Bobbys Corner-Open Market-Jan.12.2010

Good Morning;

Both the USD and JPY gained versus the higher-yielding currencies as world wide equity markets dropped. Alcoa missed estimates for their Q4 results.   It seems that the equity markets are what investors are following.  If the equity markets rally starts to slow-it will help the USD and JPY.

Trade Balance came in worse than expected  (see details below)

World wide equity markets were lower.  Europe continues to trade in negative territory, and US Futures are pointing to a lower opening this morning.
Concerns that any economic recovery will slow is also weighing on the equity markets. 
Commodities are also lower-with Oil lower as the US forecasts warmer weather.

Oil:$81.28                                       Gold:$1148.25 

Today’s Data:
Trade Balance:             exp: -$34.3           prior; -$32.9          Act: -$36.4

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Dec.28.2009

Good Morning:

The UK is closed today fro Boxing Day.  The USD picked up against the JPY, as speculation mounts that US corporations may start bringing back earning from overseas operations.  The JPY softened as a Japanese government report showed that manufacturing in Japan rose to the highest level in 6 months, thus dampening the demand for JPY as a safe haven.

A report this  morning from China that confirms that their economy grew faster than estimated in 2009, led stocks higher in Asia and Europe.  US Futures are also higher at this time.

Oil rose-demand always jumps with the first hint of weather (last weeks storms in the Mid West and East Coast were the first of this years winter season)

Oil:$78.41                       Gold:$1113.20

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Dec.7.2009

Good Morning:

The USD rally continued into the overnight session, as investors consider if global economies are strong enough to digest higher interest rates that some central banks are implementing (or contemplating implementing).
The change in USD sentiment was quick after Friday’s job data was much stronger than expected.  We went from a weak dollar to strong dollar in a matter of hours.  We will see if the rally has found legs-or if it will be short lived.
The JPY also rose overnight on interest rate concerns.

Asian equity markets were mixed, and European markets are lower.  US Futures are also lower at this time.
Gold fell as did copper, which lead to a drop in industrial metals.  Oil also fell to $74.56 in early NY trading.

Oil$74.65                              Gold:$11.41.50

North America’s economic calender is fairly quiet  today-with Fed Chairman Bernanke speaking today.

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Nov.16.2009

Good Morning:

Continued demand for higher-yielding assets has pushed the USD and JPY lower overnight.  The USD remains under pressure as the Fed reaffirms it’s plan to keep interest rates low to spur growth.  

Worldwide equity markets rallied, fueled by comments from Asian leaders that they will continue to stimulate growth thru stimulus packages.  US Futures are also pointing to a higher opening this morning.

Commodities rose, with Gold reaching a new record of $1133.20/oz and Oil traded up from Friday’s close in New York.

Today’s main attraction is Retail Sales data in the U.S.  It is expected to rise from last months decline.  It will be interesting to see if the U.S. consumer is opening up their wallets and spending.

Oil:$77.25                              Gold:$1128.10

Today’s Data:
Retail sales:     exp:.9%             prior: -1.5%
Emp. Mfg:        exp: 29.0          prior: 34.57
Bus Inv:            exp:: -.6%         prior: -1.5%

Have a GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Oct.8.2009

Good Morning:

Today is the last day of the Kuwait Traders Expo in Kuwait City, Kuwait.
We will be returning to the US tomorrow, and be back in the office next week.

As expected, both the BOE or ECB left interest rates unchanged.
The USD was lower overnight, as speculation that the global recovery will push demand for higher yielding assets grows.
Aussie rose to a 14 month high, as did Kiwi. Commodity producing country’s currencies are the most sought after at this time.

Commodities rose, led by copper and aluminum.  Gold, nickel, tin and zinc also rose but by a lesser percentage.  Better than expected earnings from Alcoa, Inc fueled speculation that the global recovery will push raw materials to new highs.

Global equity markets rose, and US futures are pointing to a higher opening this morning.
Weekly jobless claims in the US dropped to a better than expected -521K

Oil:$70.34                 Gold:$1053.40

Have a Great Day & Good Luck

Bobbys Corner-Lunchbox-5.1.2009

Good Afternoon,

The dollar traded lower in light holiday trading, as did the JPY.  Europe was closed for  May Day.  Signs of  US and Chinese  manufacturing sectors improving slowed demand for the Greenback and Yen as safe havens.  The consumer confidence index also rose by the most in over 2 years, showing signs that the markets may be getting a handle on the financial meltdown-and that consumers may start spending again.

 The renewed upbeat optimism in the  world’s economies is helping both the currency and equity markets, as money that has been sitting on the sidelines may be starting to make it’s way back into the marketplace. 

Equity markets were also slow today with the DJIA closing up 44.29 pts to 8212.41.

I wish you all a GREAT WEEKEND