Reserve Bank of Australia surprises the market. Dollar gains vs EURUSD but gains contained
No Greece PSI or austerity agreement sends the EURUSD lower.
UK Consumer Confidence
The Gfk Consumer Confidence Survey for January expected to be a-32, came in better than expectations at -29 and the prior (-33.) Sterling moved lower following the release, trading at the 1.57 handle.
UK Housing Survey
The January Housing Survey improved ifrom the prior month, however Cables rise was short-lived as risk has sold off a touch to start the trading week.
- Hometrack Housing Survey (MoM) – Actual:0.0% Prior:-0.2%
- Hometrack Housing Survey (YoY) – Actual:-1.6% Prior:-2.1%
Bobbys Corner-Open Market-January.11.2012
Good Morning:
A fairly lackluster overnight session greets us this morning.
German GDP came in at 3%-which was widely expected. Analysts are not overly optimistic on growth in 2012-and expect German GDP to grow under 1% for the year. With continued turmoil in the Euro Zone and the sovereign credit crisis that is not going away-the prospect for growth is weak. The German economy has been resilient in the past-time will tell.
Continued investor confidence in the German economy allowed the sale of 5 year bunds (bonds) below 1% for the first time.
Italian bonds fared well during the morning session-with 10 year yields below 7%.
Comments by Fitch Ratings that the Euro regions debt crisis will worsen unless the ECB boots bond purchases sent the Euro lower.
Asian equity markets were higher-while European equity markets are lower-as are US Futures.
Oil is lower (still over &101/bar)-Gold and Silver are both higher.
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-October.19.2011
Good Morning:
The Euro advanced on news that the European rescue fund will get a boost-and that Germany and France support the increased fund size to ease the pressure of the debt crisis in the region.
European assets drew demand, as investors are looking for a resolution by this weekend-when the Euro Zone has a summit planned with their leaders and Finance Ministers.
The markets seem very positive that the EFSF (European Financial Stability Facility) will work, and that European leaders will come to an agrement this weekend.
In Greece this morning-demonstrations that were scheduled for today to protest increased austerity measures has turned violent in the last 1/2 hour.
The programs that took care of the Greek populous from cradle to grave are no longer fiscally possible-and the population is rebelling-but at this time there are no alternatives except to stop these entitlement programs that have sapped the nations coffers.
Most Asian equity markets were higher-and Europe is higher across the board. US Futures are only a few points on the negative side at this time.
Today we have data on CPI and housing-but markets are squarely focused on Europe.
HAVEA GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Aug.1.2011
Good Morning:
With no extra time to spare-Congressional leaders and the White House have agreed in principle to a new Debt-Limit deal. Leaders will spend the day pushing this bill through their rank and file members. The Congress expects to get this bill passed today-as the deadline is tomorrow August 2.
The greenback has been soft-even after the debt-limit deal had been announced.
Equity markets rallied across the board after news of a debt limit deal being reached.
Dow futures are up over 150 pts, as are S&P and NASDAQ futures.
Gold is lower-and Oil is up about $1/bar.
It will be an interesting day-with lots of debates expected today in Washington.
HAVE A GREAT DAY & GOOD LUCK
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