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Bobby's Corner-Market Open 3.31.2008

Posted by Bob Slade on Mon, 03/31/2008 - 8:33am in

Monday 3/31/08

Good Morning:
The dollar may be heading for its largest quarterly loss versus the Euro since 2004.

The GBP fell to a record low versus the common currency (Euro), as UK house prices dropped again.

As the FED keeps lowering interest rates to stem an economic slowdown, the ECB has held their benchmark interest rates steady to stem inflation in the Eurozone.
Equities in Asia and Europe dropped as continued concerns about credit markets losses mount.

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

  • Gold: $ 935.70
  • Oil: $105.21

This week’s economic data will culminate with Non Farm Payroll and the Unemployment rate on Friday. Today we have the Chicago Purchasing Managers report for March. Expected at 46.0 versus 44.5 prior. 

Have a GREAT DAY

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