Bobby’s Corner – Market Open - 3.19.2008

The dollar fell again last night. After the FOMC cuts interest rates by 75 basis points the dollar strengthened. By the time Asia came into the markets the dollar started to stumble. Rumors of the FOMC continuing to lower interest rates to combat a slowing economy circulated in the Asia and European sessions. Speculation that the housing slump will continue to swell credit market losses will weigh on the dollar.

Overseas equity markets fell as investors speculated that financial institutions may have further write downs in the near future.

US futures are lower this morning-pointing to a lower opening.

Gold: $ 988.70  |  Oil: $ 108.25

Today we have no major economic data.

Have a GREAT DAY !