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
Forex Basics with Shawn Powell July 11 2011 Rebroadcast
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Bobbys Corner-Open Market-April.12.2011
Good Morning:
The JPY and CHF rose after Japan increased the severity rating for it’s nuclear crisis. This rating is the same that was placed on the Chernobyl nuclear crisis 15 years ago. Japan also had additional earthquakes yesterday that were 6+ on the Richter Scale, they were strong enough to shake buildings in Tokyo.
The Euro gained some as the IMF and European Commission meet today in Lisbon to discuss the “aid” package for Portugal.
The markets shrugged off weak German investor confidence data.
GBP dropped after reports showed that inflation has slowed-which may put a hold on any interest rate increase in the near future.
Equity markets are lower across the board-and US Futures are also looking for a lower opening this morning.
Oil:$109.33 Gold:$1465.10
| TIME | FOR | EST | PRIOR | |||
| 8:30A.M. | IMPORT PRICE INDEX MoM | MAR. | 2.00% | 1.40% | ||
| 8:30A.M. | IMPORT PRICE INDEX YoY | MAR. | 8.60% | 6.90% | ||
| 8:30A.M. | TRADE BALANCE | FEB. | -$44.0B | -$46.3B | ||
| 10:00A.M. | IBD/TIPP ECONOMIC OPTIMISM | APR. | 45.O | 43.O | ||
| 2:00P.M. | MONTHLY BUDGET STATEMENT | MAR. | -$189.0B | |||
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-April.8.2011
Good Morning:
We start tocb,iday with President Obama demanding a budget deal being agreed on-as a US government showdown looms on the horizon.
The US government will shut down at midnight tonight if no deal is reached.
If no agreement is reached-the US will shut down all non-essential agencies, and will furlough 800,000 federal employees.
This would be the first shutdown in 15 years, and would close national parks, IRS paper tax returns would be unprocessed, passport services would be closed, along with a slew of other government services.
The Euro rose versus the greenback as investors feel the ECB will slowly increase interest rates to curb inflation in the EU.
With the outlook being that the Federal Reserve will trail other central banks in raising rates-the USD will remain under pressure as the interest rate differential increases between the US and Europe. Analysts feel that the Bank of Japan will also keep interest rates low for at least the next 12 months-as they need to stimulate an economy that was already slow-and has slowed more since the March 11 earthquake.
It seems that negative short tem news is being ignored and investors are focused on a longer term growth philosophy. This is being seen in the commodity, Forex, and equity markets.
Gold reached a record high of $1473.07/oz, and Oil touched$111.90/barrel. Commodities in general also rallied.
World equity markets rallied, and US Futures are higher this morning.
Oil:$111.50 Gold:$1473.00
| TIME | FOR | EST. | PRIOR | REVISED | |||
| 10:00A.M. | WHOLESALE INVENTORIES | FEB. | 1.00% | 1.10% | 1.00% | ||
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
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Bobbys Corner-Open Market-April.4.2011
Good Morning:
A fairly lackluster start to the week-with no real changes in the majors, and crosses showing very little real net change.
Friday’s good US employment data may begin to prompt the FED to remove some of the “accommodating bias” rhetoric in their statements-but if we see a better employment data, along with true growth-the FOMC will need to begin to change it’s course of monetary action sooner than later.
With the Japanese economy paralyzed from man made and natural disasters, the Japanese government will have no choice but to continue it’s ultra accommodating monetary policy for the foreseeable future.
Commodities rose across the board, as signs that economic growth is gaining traction.
Equity markets are also stronger-as some $20 billion in new corporate takeover activity helps keep these markets firm for the time being.
With no major economic events on today’s calender-and the start of the FOMC meeting tomorrow-we do not expect any earth shattering comments from US officials today.
Oil:$108.35 Gold:$1438.30
No Major Data Today
HAVE A GREAT DAY & GOOD LUCK
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