Overnight The Bank of Japan expanded
its plan for government bond purchases by 10 trillion yen after signs of
slowing economy. This comes after the US Fed meeting which Chairman
Bernanke signaled that more Fed intervention will be on the
way if the US economy slips further. S&P cut its rating on Spain by
two levels to BBB+ prompted by concerns over growing government debt
amid a contracting economy. The 25% unemployment rate in Spain
highlights the economic problems in the euro zone economies.
The US GDP grew at 2.2% which was weaker than expected. Commodities are
all trading higher as the dollar trades weaker against the euro. In
light of Fed’s comments on Wed of potential QE in the coming months, we
would be long silver on valuation against copper,
gold, and palladium.
Metals
|
Last
|
%Change
|
Low
|
High
|
Au-Jun
|
1664.4
|
0.24%
|
1651.1
|
1668.4
|
Pt-Jul
|
1574.1
|
0.25%
|
1562.7
|
1579.6
|
Pd-Jun
|
682.25
|
1.43%
|
667.35
|
683.75
|
Ag-May
|
31.295
|
0.28%
|
30.885
|
31.395
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
Au
|
1654
|
1663.5
|
Rh
|
1390
|
Pt
|
1567
|
1573
|
Ru
|
115
|
Pd
|
669
|
677
|
Ir
|
1100
|
Ag
|
31.14
|
DJI
|
13237.32
|
32.7
|
Currencies
|
||||
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
1.3257
|
0.012439
|
1.6268
|
EUR
|
0.7543
|
0
|
0.93827
|
1.2271
|
JPY
|
80.4
|
106.58
|
0
|
130.79
|
GBP
|
0.6147
|
0.81489
|
0.7646
|
0
|
Crude Brent
|
119.72
|
Comex Copper
|
382.45
|
|
Crude WTI
|
104.84
|
Nat Gas
|
2.186
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
||||
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