Online Trading Class March 16th 2010 4pm Register

Be sure to take advantage of the Online Trading Class on Tuesday March 16th 2010 4pm > Register now

Forex Midday Report - March 12

Forex Morning Report - March 12

Bobbys Corner-Open Market-March.12.2010

Good Morning:

The USD lost ground overnight as speculation that the Fed will keep interest rates low reduced demand for USD dominated assets.  In other news, Janet Yellen will most probably be selected as vice chairman of the Fed.  Ms Yellen is currently President of the San Francisco Fed, and has been a staunch supporter of lower interest rates to combat the global recession.

EU leaders will meet next week to discuss the potential need to issue bonds or give outright loans to Greece, as the country works on an auterity program aimed at cutting it’s staggering deficit.

Equity markets rose around the globe and US futures are also higher this morning.  Banks and commodity companies helped keep equity indexes in positive territory.
Commodities in general rose across the board, with gold leading the charge.

Oil:$82.72                              Gold:$1117.50

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Rebroadcast of March 11 2010 Online Training

Watch the video rebroadcast of the Thursday March 11th FXDD Online Training - Click here to watch

Class Summary: Shawn Powell teaches a class on identifying entry and exit points in conjunction with support and resistance levels using Fibonacci and trend lines.

Forex Morning Report - March 11

Bobbys Corner-Open Market-March.11.2010

Good Morning:

The EUR/USD pair was little changed in the overnight session.  Very narrow range bound trading with no clear direction evident.
GBP had a good day as it jumped over the 1.50 mark versus the USD, and rose across the board.

Greek unions protested against the government’s budget cuts and closed hospitals,airports, and schools.  Workers walked off their jobs to protest the 4.8 Bil Euro budget cuts.  These measures will include wage cuts and tax increases.  These drastic measures are necessary to get Greece out of the worst sovereign debt crisis to hit the European marketplace.

In China,  retail sales jumped over 20%, and industrial production also rose higher than expected.  The Chinese economy is racing forward after last years fiscal stimulus packages.  The economy is not only export focused, but has been pushing hard for domestic demand in the past 12 months.

World equity markets were mixed-and US Futures are mostly flat at this time.

Oil:$82.05                                           Gold:$1106.40

HAVE A GREAT DAY & GOOD LUCK

Forex Midday Report - March 10