Tuesday, February 7, 2012

The markets continue to focus on Greece

The markets continue to focus on Greece and the Fed chairman’s Senate testimony today. Dollar is weaker versus Euro on the expectation of a Greek resolution with creditors and Bernanke’s stance on possible future quantitative easing. Greece is preparing a 130 billion euro bailout agreement which must be approved by the political leaders while the Greek unions stage a general strike. Commodities are split in performance as industrial metals continue to lag due to uncertain economic conditions out of China and Europe while gold and silver are holding up well as traders and investors continue to use them as safe havens/hedges. Everyone is collectively holding their breath until we can see some resolutions to the global economic uncertainty. Metals will continue to be range bound in the short term.

Metals

Last

%Change

Low

High

Au- Apr

1733.5

0.50%

1712.6

1735

Pt-Apr

1630.4

0.09%

1614.8

1633

Pd-Mar

702.85

-0.58%

696.05

707.50

Ag-Mar

33.715

-0.10%

33.155

33.830

London

AM

PM

Minor

PGMs

Au

1720

1724

Rh

1525

Pt

1623

1619

Ru

130

Pd

702

700

Ir

1100

Ag

33.28

DJI

12869.46

24.33

Currencies

USD

EUR

JPY

GBP

USD

0

1.3203

0.013023

1.5823

EUR

0.7573

0

0.98625

1.1984

JPY

76.79

101.38

0

121.503

GBP

0.632

0.83444

0.823

0

*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES


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