Commodities and world equity markets are in rally and risk on mode this morning as the Chinese trade data suggest monetary easing might be on the horizon as China tries to maintain economic growth despite the European financial crisis. China continues to be active in the physical base and precious metal markets ahead of the Chinese New Year holiday. Gold is trading above the 200 day moving average and silver is trading around the psychological $30 mark. Platinum and palladium continue to see buying interest as markets correct from seemingly oversold conditions. Buying commodities based on the hope that the Chinese might loosen bank reserve requirements or ease monetary policy is probably not a good idea as any move by the Chinese Central Bank would mean further deterioration of the country’s economy. We would trade commodities lightly here and wait for more economic data.
| Metals | Last | %Change | Low | High |
| Au- Feb | 1636.1 | 1.74% | 1609.2 | 1641.4 |
| Pt-Apr | 1465.8 | 2.55% | 1425.5 | 1475 |
| Pd-Mar | 638.5 | 3.34% | 618.00 | 645.20 |
| Ag-Mar | 29.980 | 4.20% | 28.905 | 30.310 |
| London | AM | PM | Minor | PGMs |
| Au | 1627 | 1637 | Rh | 1375 |
| Pt | 1459 | 1462 | Ru | 110 |
| Pd | 633 | 643 | Ir | 1100 |
| Ag | 29.69 | DJI | 12482.22 | 89.53 |
| Currencies |
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| USD | EUR | JPY | GBP |
| USD | 0 | 1.2784 | 0.013014 | 1.5486 |
| EUR | 0.7823 | 0 | 1.01802 | 1.2114 |
| JPY | 76.84 | 98.23 | 0 | 118.998 |
| GBP | 0.6458 | 0.82545 | 0.8404 | 0 |
| *THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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