Bobbys Corner-Open Market-Feb.18.2010
February 18, 2010 by Bob Slade · Leave a Comment
Good Morning:
The greenback rallied overnight as Euro Zone officials fight over the details of any bailout for Greece. It seems that there is a major rift between EU Finance Ministers in regards to how much, if any, funds should be available to assist Greece with their budget deficit. Greek bonds fell as EU regulators are investigating possible use of swaps with banks to conceal the debt problem.
Also helping the USD is speculation that the Federal Reserve may be one of the first major central banks to remove some of the stimulus measures that have been in place. The speculation is fueled by investors who feel that the US economy is on the road to recovery.
World equity markets are higher, and US Futures are slightly lower at this time.
Commodities are also lower this morning.
Today’s data:
| TIME | FOR | EST | PRIOR | |||
| 08:30AM | PRODUCER PRICE INDEX (MoM) | JAN | O.8% | 0.20% | ||
| 08:30AM | PRODUCER PRICE INDEX (YoY) | JAN | 4.40% | 4.40% | ||
| 08:30AM | PPI EX FOOD & ENERGY (MoM) | JAN | 0.10% | 0.00% | ||
| 08:30AM | PPI EX FOOD & ENERGY (YoY) | JAN | 0.80% | 0.90% | ||
| 08:30AM | INITIAL JOBLESS CLAIMS | FEB 13 | 438K | 440K | ||
| 08:30AM | CONTINUING CLAIMS | FEB 6 | 4500K | 4538K | ||
| 10:00AM | PHILADELPHIA FED. | FEB | 17.O | 15.2O | ||
| 10:00AM | LEADING INDICATORS | JAN | O..5% | 1.10% | ||
HAVE A GREAT DAY & GOOD LUCK
Bobbys Corner-Open Market-Feb.10.2010
February 10, 2010 by Bob Slade · Leave a Comment
Good Morning:
I have been away at the World Money Show in Orlando, FL- I am now back in NY with the snow falling.
The USD continues to benefit from the crisis in the EuroZone. Greece is trying to work out a deal with either the EU or to get direct assistance from Germany. Greece is a major political concern for the EZ. The EZ cannot afford to allow Greece’s debt to be placed below investment grade levels, for fears that this could also effect other Southern European economies.
Fed Chairman Bernanke is expected to testify before Congress today-but due to the inclement weather, his testimony may be in written form.
World equity markets rose-as speculation that a “rescue package” for Greece is taking root.
Commodities are mixed.
Oil:$73.96 Gold:$1080.70
| TIME | FOR | EST | PRIOR | |||
| 08:30AM | TRADE BALANCE | DEC | -$35.8B | -$36.4B | ||
| 02:00PM | MONTHLY BUDGET STATEMENT | JAN | -$46.0B | -$63.5B | ||
HAVE A GREAT DAY & GOOD LUCK
EUROZONE’s Almunia on the Wires
June 5, 2009 by Danish FX · Leave a Comment
EU’s Almunia: Central and Eastern Europe face funding challenges ahead
- Euro currency is a major asset and provides an anchor of stability
- EMU protects its members from speculative currency attacks
EUROZONE’s Almunia Comments
May 29, 2009 by Danish FX · Leave a Comment
EU Almunia: Exiting recession, economic freefall is over
EUROZONE’s Junker on the Wires
May 29, 2009 by Danish FX · Leave a Comment
EU’s Junker: Does not yet see the end of financial crisis
- Answers to toxic assets are satisfactory
EUROZONE’s Almunia on the Wires
May 25, 2009 by Danish FX · Leave a Comment
Almunia: Have so far seen scarce signs of recovery in the global economy
EUROZONE’s Almunia on the Wires
May 4, 2009 by Danish FX · Leave a Comment
EU’s Almunia: Seeing positive signs about Euro-Zone economy recently however outlook remains ‘gloomy’
- More needs to be done to treat impaired assets on banks balance sheets
- Gov’t bond spreads have narrowed
- Tentative recovery in stock markets
- Expects downturn to bottom in H2 of 2009
- Does not see serious risks of deflation in Euro Zone
- Note: According to EU commision projections, 2009 Irish Deficit forecast at 12% of GDP, 2010 Deficit seen at 15.6% of GDP, 2009 Irish GDP seen at -9.0%, 2010 GDP seen at -2.6%
Bobbys Corner-Open Market-4.7.2009
April 7, 2009 by Bob Slade · Leave a Comment
Good Morning:
Signs that the recession in Europe is worse than expected was confirmed with a report that GDP in the Eurozone dropped 1.6%. Household spending, and investments also plunged during the period. The crisis is forcing a reduction in output and jobs throughout the region.
World equity markets dropped and US futures are also pointing to a lower opening. Comments by George Soros that the present market is a “bear market rally”, and investors should be prepared for a turnaround in the marketplace. Alcoa will announce Q1 results after the bell today. Alcoa will be the first Dow stock to announce earnings-and estimates are for a reported loss.
Oil:$50.25 Gold:$874.20
No major economic data due out today.
HAVE A GREAT DAY & GOOD LUCK
Loading ...
