Forex Trading News UK Housing Equity Withdrawal Released
The UK Housing Equity Withdrawal came out at -5.7B from the previous -2.0B. A slight drop to -3.3B was forecast.
The GBP which was softening up into this number did not react to this data.
Forex Trading News EURGBP Hits New High
The EURGBP has just hit a fresh all-time high, reaching .9680. This pair is quickly approaching parity behind expectations that the EUROZONE will keep rates above UK rates along with a grim economic outlook for the UK. Time will tell if the weak GBP will continue into the New Year.
Forex Trading News Economic Calendar (12/29/2008)
Monday, December 29, 2008
Bobbys Corner- Open Market 12.26.2008
Good Morning:
The markets are quiet today. Europe is on Holiday, and the Asian centers that were open have closed for the weekend. The Russian Central Bank devalued the Ruble again to help compensate for the drop in crude oil prices. Oil is Russia’s #1 export-and the continued falling oil prices are causing havoc in their economy.
Early reports from U.S. retailers show that spending dropped 4% over last year- as consumers slowed purchasing across the board as concerns about the economy loomed.
Oil: $36.23 Gold:$848.10
Today we have no economic data due out.
HAVE A GREAT DAY-GREAT WEEKEND & GOOD LUCK
Forex Trading News The WSJ on the EUR
WSJ "Heard on the Street" column looks at factors that could weaken the Euro
- The article implies that as political tensions mount, investor confidence in the euro could suffer, bringing about the devaluation needed to stop it falling apart.
- Article notes that Investors are aware of the political tension, citing the higher premiums sought for buying the debt of weaker euro-zone economies. The article noted that Italian, Portuguese and Greek government debt trades at spreads of at least 100bpsabove equivalent German 10-year bonds, the highest since the euro was created in 1999.
Forex Trading News Economic Calendar (12/26/2008)
Friday, December 26, 2008
Bobbys Corner- Open Market 12.24.2008
Good Morning:
The dollar was softer as we head into the Christmas holiday. With very thin trading-we will probably see these rates for the next few days.
European and Asian stocks were lower and U.S. Futures are a touch higher this morning. U.S. equities will close at 1PM today.
Crude Oil is trading around the $37 a barrel-as reports show that supplies are higher as demand shows a decrease.
Oil:$37.17 GOLD:$834.00
Today we have the following data:
Personal Income: exp:flat prior: .3% act:-.2%
Personal Spend: exp;-.7% prior:-1% act: -.6%
Durable Goods: exp:-3% prior: -6.2% act;-1%
Jobless Claims: exp: 552K prior;556K act: 586K
HAVE A GREAT DAY & MERRY CHRISTMAS
Forex Trading News US Data Released
Some mixed US data has just been released with little reaction thanks to the holiday markets. The data highlights are as followed:
USD Core Durable Goods Orders came out better than forecast at 1.2% from the previously revised -6.8%. A rise to -3.0% was forecast.
US Unemployment Claims came out worse than expected at 586K from the previous 556K. A drop to 552K was forecast.
US Personal Spending came out better than forecast at -0.6% while Personal Income dropped to -0.2%.
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