US stocks were little changed as investors awaited reports on durable-goods orders and housing to assess the strength of the economy before an EU summit that starts today. The S&P 500 advanced yesterday as optimism about the housing market tempered concern that the Euro debt crisis will worsen. The climb trimmed the equity benchmark’s decline
Market Review June 28 2012 Read More »
Yesterday, sterling was well bid, even as the news flow from the UK was not supportive for the currency. Uncertainty on the outcome of the EU summit was the key factor for trading in the major euro cross rates. However, sterling was an outperformer. EUR/GBP was on a gradual downward trajectory throughout the morning session
The Unsinkable EUR/GBP Read More »
During early Asian session, oil futures prices are trading above $79.50/bbl with a marginal gain of 0.10 percent in electronic platform. As per American petroleum Institute, ( please note that the API inventory indicators have been wrong more than right in the past months ) crude oil stocks have declined in Cushing Oklahoma delivery centre
Crude Oil tumbles while Natural Gas soars Read More »
Asian stocks recovered from dismal opening Wednesday morning to trade mostly higher, with Hong Kong leading the region amid some buying by funds, though volume remained light ahead of a key European summit. US markets traded with a positive bias today, as the S&P 500 and NASDAQ were both up approximately 0.75% after yesterday’s sell-off.
Fxcc Market Review June 27 2012 Read More »
Gold futures closed higher, mostly on some safe haven and bargain buying at lower levels. Prices also found support from investor’s ahead of the European Union Summit meet later this week. Gold holdings of SPDR gold trust, the largest ETF backed by the precious metal, increased to 1,281.62 tons, as on June 18. Silver holdings
During early Asian session, oil futures prices are trading in a lower trend on concern of rising stock piles, where lower demand is expected from major oil consuming nations. Prevailing European debt crisis getting tough day by day as partial solutions are not helping the global market to withstand. The credit rating agency Moody has
US Natural Gas gets a lifeline from Japan Read More »
A pair of manufacturing surveys were released today in the US. The Chicago National Activity Index for May showed that conditions had deteriorated somewhat, while the Dallas Fed’s manufacturing survey for June showed an improvement in conditions. After the Philly Fed’s surprising collapse in June, we’ll be watching the other regional Fed surveys especially closely.
Market Review June 26 2012 Read More »
During early Asian session, oil futures prices are trading above $80/bbl with marginal gain of 0.30 in electronic platform. As per National Hurricane Centre, US tropical storm Debby formed on yesterday in Gulf area is slowly dissipating. Currently 50 knots are there, however it’s not expected to strengthen further. Thus, gains in oil prices are
The surprise of the morning, newly elected Greek Prime Minister and the new appointed Greek Finance Minister, have both become too ill to attend the EU Summit this week. At this time Greece will not be represented. New flow today will be centered on the EU meetings and Spain’s official request for financial assistance. Otherwise
The Surprise of the Morning Read More »
The Greek government made its re-negotiation platform (for talks with the Troika) public. They ask to extend the deadline for meeting the fiscal criteria by 2 years. They also want to scrap plans to cut 150K public sector jobs, repeal the 22% cut in the minimum wage and raise the income tax threshold. They apparently
Before the EU Summit Greece Makes its Demands Public Read More »
