UK Consumer Credit & Lending Lower, Mortgage Aprovals Slightly Rise

Consumer Credit:   Survey: 0.4B   Actual: 0.2B  Prior: 0.4B 

Lending:   Survey: 0.8B   Actual: 0.7B   Prior: -0.1B  Revised:  0.0B

Mortgage Aprovals:   Survey: 49.0K   Actual: 49.2K  Prior: 48.4K   Revised: 48.5K

Bobbys Corner-Open Market-April.29.2011

Good Morning:

London markets were closed today-as the UK takes a national holiday for the Royal wedding.

In EZ news the German Retail Sales data was very weak-as consumers in the regions largest economy slowed down on their spending, as the high price of energy takes a bite out of their discretionary income.  This data may put into question the speed that the ECB will continue to increase interest rates.
CHF was strong again-as data suggested that the economy is operating smoothly, and growing.

The continued USD weakness is due in part to the Fed’s monetary ploicy staying on hold, and the economy limping ahead, not really gaining any significant traction. 

Asian and European equity markets are mixed-and US Futures are higher at this time.

Oil continues to soar-along with gold.

Oil:$113.22                                      Gold:$1539.20         

HAVE A GREAT DAY-WEEKEND & GOOD LUCK

Bobbys Corner-Open Market-April.27.2011

Good Morning:

Risk was back on center stage overnight-as Australian CPI data posted better than expected-pushing the Aussie through the 1.08 handle.
In the UK-GDP printed at .5%, which showed that the UK economy is fairly robust, even with their austerity measures and weak consumer sentiment.  The GBP rallied as many investors were anticipating weaker data.

Markets will be waiting for 2:15 PM this afternoon-which will signal the end of the FOMC meeting-and will feature Fed Chairman Bernanke’s press conference.  Markets are not expecting any interest rate increase at this time-but they are looking for any signal of when the Fed’s QE policy will be coming to an  end.

S&P cut Japan’s sovereign rating outlook to negative.  Costs for rebuilding the country after the March 11 earthquake will no doubt hurt the countries ability to produce products for export, which is the backbone of Japan’s economy.

Asian equity markets were mixed-Europe and US Futures are higher at this time.

Oil:$112.40                                                                 Gold:$1508.90

HAVE A GREAT DAY & GOOD LUCK

UK Retail Sales Rise

Retail Sales:   Survey: -0.4%   Actual: 0.2%  Prior: -1.0%  
Public Sector Net Borrowing:   Survey: 18.7  Actual: 16.4   Prior: 10.3B   Revised: 7.9B

Bobbys Corner-Open Market-March.24.2011

Good Morning:  Portugal’s Prime Minister resigned after his legislators rejected his proposals for austerity measures in the wake of their debt crisis.  The failure to pass the austerity measures have put the country in a dire situation.  It looks like Portugal will need to follow Greece and Ireland and seek an international bailout.  Portugal had already raised taxes and has added deep spending cuts prior to the vote for additional austerity measures. The bailout cost is estimated to be approximately 100 billion euros. 
In other sovereign news-30 of Spain’s smaller banks had their senior debt downgraded by Moody’s.  it was inevitable-after Moody’s downgraded the country on March 10th. 
EU leaders will be meeting in Brussels to work on the debt crisis that is impeding the current and future growth within the region.

UK Retail Sales were very disappointing-as consumers spent and shopped last month before the government increased sales taxes.  Retailers will see pressure in future sales as an increase in inflation along with higher taxes may keep consumers concerned about purchases and spending.  Asian equity markets were mixed-while European are higher.  US Futures are also pointing to a higher opening in NY this morning.

Oil:$106.17                                                                             Gold:$1437.20  

 HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-March22.2011

Good Morning:

GBP was the star of the overnight session as CPI in the UK came out almost double what analysts expected.  This will put pressure on the Bank of England to consider a bump up in interest rates.  

The Euro touched a 5 month high versus the USD as speculation that the ECB will raise interest rates next month-as the concern of inflation mounts.  Last month ECB President Trichet mentioned the rate increase-and even after the crisis in Japan, he has not changed his tone.

Analysts are mixed in there thinking-some feel that Japan will slip into (another) recession, and other feel that Japan will see a big rebound in Q3 and Q4.  The disruptions of the electric supply, and how it disrupts the supply chain will be a major factor in rebuilding the economy.  The resumption of exports used in the production of good overseas will be the litmus test for the economy. 
For now-Japan just needs to get the nuclear crisis under control, and assist their population in any way they can. 

Oil:$101.56                                                            Gold:$1421.90

 

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-March.3.2011

Good Morning:

The GBP was lower after UK home prices fell, and the service sector dropped more than expected-thus reducing the chance for an interest rate rise anytime soon.  With this data, any increase in UK interest rates may well delay and hamper economic growth in the UK.
The EuroZone showed more upbeat data-with retail Sales in the region rising by .4%-which was expected.  PMI from Spain and Ireland showed that the region is picking up economic activity and showing signs of strength in the region’s core economies.
ECB President Trichet will hold a news conference this morning, and the markets are anticipating a more hawkish assessment of the EZ moving forward.

World equtiy markets are higher-as are US Futures at this time.

Oil:$ 101.00                                                                       Gold:$1429.50

HAVE A GREAT DAY & GOOD LUCK

Bobbys Corner-Open Market-Feb.18.2011

Good Morning:

The Euro lost steam overnight as German Producer Prices rose faster than expected-thus fueling speculation that monetary officials may need to increase interest rates in the region, which would put a stranglehold on any economic recovery.  German PPI was up 1.2% for January-twice what analysts expected.  Investors are starting to get weary of the debt crisis and uncertainty that is plaguing the Euro Zone.
Cable had a good day-on the heels of stronger than expected Retail Sales.  Year to year data shows that Retail Sales in the UK rose 5.3%, showing strong signs of growth as the UK pushes itself out of the economic  doldrums that has been weighing heavily on the country.

World equity markets were mixed, and US Futures are slightly higher.

Oil:$86.40                                                               Gold:$1385.20 

FXDD WILL BE AT THE NY TRADERS EXPO  at the Marriott Marquis in New York City from Feb.20-22-  Come by and say hi (booth #5607)
 
HAVE A GREAT DAY-WEEKEND & GOOD LUCK

« Previous Page — Next Page »