Forex Morning Report – July 6
Forex Morning Report – July 6
Bobbys Corner-Open Market-July.6.2010
Good Morning:
The US is back in business after the long July 4Th holiday. Yesterday we were open, but it was a very quiet day.
Positive economic news from Australia, along with the RBA leaving interest rates unchanged helped the Aussie rally in overnight trading. The RBA does not seem as concerned about the global recovery as the rest of the marketplace does. They are more concerned with the needs from China and Asia-as this region dictates Australia’s economy more than the rest of the world.
The USD andf JPY lost ground as the rally in equities lowered demand for the safe refuge of these currencies.
World equity markets are higher-and US Futures are also pointing to a higher opening this morning.
Global stocks have gained as analysts have raised earnings estimates for many US companies at the fastest pace since 2004. S%P companies are looking at a 34% increase in 2010-according to reports in Bloomberg.
Oil:$72.96 Gold:$1208.40
Today;s Data:
| TIME | FOR | EST | PRIOR | |||
| 10:00A.M. | ISM NON-MANUF COMPOSITE | JUNE | 55.3O | 55.4O | ||
HAVE A GREAT DAY & GOOD LUCK
Forex Midday Report- July 2
Forex Midday Report- July 2
Bobbys Corner-Open Market-July.2.2010
Good Morning:
The FX markets were quiet ahead of today’s employment data in the US. Many market participants are looking past the world’s sovereign debt problems, and looking at growth.
With data from China showing manufacturing slowing, and EU countries being concerned about growth (as their economies wrestle to keep their deficits in order), along with the decelerating US economy-the markets will be focused on future growth opportunities.
Equity markets rose, and US futures are higher.
Oil:$72.80 Gold:$1207.20
| 8:30A.M. | UNEMPLOYMENT RATE | JUNE | 9.80% | 9.70% | ||
| 8:30A.M. | CHANGE IN PRIVATE PAYROLLS | JUNE | 110K | 41K | ||
| 8:30A.M. | CHANGE IN NONFARM PAYROLLS | JUNE | -125K | 431K | ||
| 8:30A.M. | AVG. HOURLY EARNING MoM ALL EMP. | JUNE | 0.10% | 0.30% | ||
| 8:30A.M. | AVG.HOURLY EARNING YoY ALL EMP. | JUNE | 2.00% | 1.90% | ||
| 8:30A.M. | AVG. WEEKLY HOURS ALL EMPLOYEES JUNE | 34.2O | 34.2O | |||
| 10:00A.M. | FACTORY ORDERS | MAY | -0.50% | 1.20% | ||
| 10:00A.M. | ISM NON MANUF.COMPOSITE | JUNE | 55.3O | 55.4O | ||
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
Webinar Rebroadcast July 1 2010 Watch Now
Webinar Rebroadcast July 1 2010 Watch Now
Forex Midday Report- July 1 2010
Forex Midday Report- July 1 2010
Forex Morning Report- July 1 2010
Forex Morning Report- July 1 2010
Bobbys Corner-Open Market-July.1.2010
Good Morning:
The FX markets were very busy in overnight trading. The USD weakened across the board, with USD/JPY breaking into the 87 handle-the first time since December 2009. The Euro fared well-as Spain sold 3.5 billion euros of 5 year bonds, which was the target amount they were looking for. Another positive note for the euro was comments from the ECB that they will lend 111.2 billion euros for 6 days to help EU banks after the 12 month loan expires today. At the start of the European debt crisis-the ECB had made emergency 12 month loans available to the regions banking sector-these are the loans that are being repaid today. The ECB will still make 3 and 6 moth loans available to the regions banks.
World equity markets fell-as news that China’s manufacturing has slowed, and the faltering creditworthiness of Spain added to a global first half slump. US futures are mostly lower at this time.
Oil fell as did metals.
Oil:$74.77 Gold:$1241.70
Today’s data:
| 7:30A.M. | CHALLENGER JOB CUTS YoY | JUNE | -65.10% | |||
| 8:30A.M. | INITIAL JOBLESS CLAIMS | 26-Jun | 455K | 457K | ||
| 8:30A.M. | CONTINUING CLAIMS | 19-JUNE | 4550K | 4548K | ||
| 10:00A.M. | ISM MANUFACTURING | JUNE | 59.O | 59.7O | ||
| 10:00A.M. | ISM PRICES PAID | JUNE | 70.O | 77.5O | ||
| 10:00A.M. | CONSTRUCTION SPENDING MoM | MAY | -0.80% | 2.70% | ||
| 10:00A.M. | PENDING HOME SALES MoM | MAY | -14.20% | 6.00% | ||
| 10:00A.M. | PENDING HOME SALES YoY | MAY | 24.60% | |||
HAVE A GREAT DAY & GOOD LUCK
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