March 12, 2010 8:25 AM
Bobbys Corner-Open Market-March.12.2010
0
Good Morning:
The USD lost ground overnight as speculation that the Fed will keep interest rates low reduced demand for USD dominated assets. In other news, Janet Yellen will most probably be selected as vice chairman of the Fed. Ms Yellen is currently President of the San Francisco Fed, and has been a staunch supporter of lower interest rates to combat the global recession.
EU leaders will meet next week to discuss the potential need to issue bonds or give outright loans to Greece, as the country works on an auterity program aimed at cutting it's staggering deficit.
Equity markets rose around the globe and US futures are also higher this morning. Banks and commodity companies helped keep equity indexes in positive territory.
Commodities in general rose across the board, with gold leading the charge.
Oil:$82.72 Gold:$1117.50
HAVE A GREAT DAY-WEEKEND & GOOD LUCK
- Plosser says no need for further policy accomodations
- Retail Sales: Weaker headline, Better Ex Auto. Revisions not so good. Dollar higher
- US Import Price Index at expectations while Advance Retail Sales higher yet lower than expected
- BOE’s King says UK inflation to fall to around 2% by the end of 2011.
- ZEW comments
- Eurozone ZEW -8.1 (-32.5 prior).
- UK CPI Jan (y/y) 3.6% as expected.
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