Forex Morning Report- June 29th
Forex Morning Report- June 29th
Bobbys Corner-Open Market-June.29.2010
Good Morning:
Signs that the global economic recovery is slowing caused the markets to run to the safety of the JPY-thus allowing the yen to reach it’s highest level against the euro in eight years. The JPY also reached a seven week high versus the USD ahead of this morning’s consumer sentiment data-which is forecast to be lower than last month. Slowing growth concerns always drive the markets to safer havens-like the JPY,CHF and USD.
World equity markets fell, and US Futures are sharply lower. Concerns that Chinese growth is slowing will effect global economies, as China is the main engine of the world’s economic recovery.
Oil:$76.31 Gold:$1238.40
| 9:00A.M. | S&P CS COMPOSITE -20 YoY | APRIL | 3.40% | 2.30% | ||
| 9:00A.M. | S&P CASESHILLER HOME PRICE INDEX | APRIL | 144.3O | 143.4O | ||
| 9:00A.M. | S&P CS 20 CITY MoM% SA | APRIL | -0.15% | -0.05% | ||
| 10:00A.M. | CONSUMER CONFIDENCE | JUNE | 62.5O | 63.3O | ||
Have a GREAT DAY & GOOD LUCK
US S&P Home Price Index Higher as S&P (MoM) & (YoY) also Better
S&P/CS Composite-20 (YOY): Survey: 3.4% Actual: 3.81% Prior: 2.3%
S&P/CaseShiller Home Price Ind: Survey:144.3 Actual: 144.56 Prior: 143.4
S&P/CS 20 City (MoM%) SA: Survey: -0.10% Actual: .44% Prior: -.05% Revised: -.15
Market Stable on the news.
Canada Raw Materials Figures Down, IPPI Same as Prior
Forex Quick: EUR/USD holding support after move lower
Forex Quick: EUR/USD holding support after move lower
Eur/Jpy at weakest level since Nov. 2001
Eur/Jpy has traded down to 107.80, its weakest level since Nov. 2001. The global equity markets are extremely soft with European markets off 2-3% and the S&P Futures down 14.00. The Eur/Jpy sell off may be attributed to these weak markets, as the JPY has become the risk averse currency.
UK Net Lending m/m
The GBP traded slightly lower after the release of worse than expected final mortgage approvals out of the UK, but net lending came in better for the month of May. The details are as follows:
- Net Lending to Individuals (m/m) – Survey: 0.9B Actual: 1.5B Prior: 0.4B
- Final Mortgage Approvals – Survey: 52K Actual: 50K Prior: 51K


