Reports that EU finance ministers were
able to agree on details of a bailout fund, code-named the European
Stability Mechanism, as well as a plan to support Spanish banks has
seemed to counterbalance the weight of worry surrounding a slowdown
in the global economy this morning. However, Germany is investigating
whether the ESM complies with German law and that has many concerned
that a delay in implementing the plan quickly could have a significant
negative impact on the Euro region. Spain was
granted another year to reduce their deficit by the EU finance
ministers earlier today but without the implementation of the ESM the
countries financial future remains in peril and the likelihood of a full
scale bailout increases. Spanish 10-year bond yields
did fall below 7% but are still red-lining. Chinese trade data showed
import growth slowing to 6.6% adding further evidence that the world’s
#2 economy is slowing. The trade data followed reports that China’s
consumer price index rose only 2.2% in June. Here
in the U.S. investors are heading further into earnings season and
expectations of lackluster corporate results has investors on edge. Have
a great day!
|
Metals
|
Last
|
%Change
|
Low
|
High
|
|
Au-Aug
|
1598.3
|
0.57%
|
1582.7
|
1602
|
|
Pt-Oct
|
1452.7
|
0.47%
|
1436.4
|
1454.6
|
|
Pd-Sep
|
586.7
|
0.47%
|
581.00
|
588.00
|
|
Ag-Sep
|
27.400
|
-0.16%
|
27.120
|
27.580
|
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
|
Au
|
1594.5
|
|
Rh
|
1250
|
|
Pt
|
1439
|
1449
|
Ru
|
115
|
|
Pd
|
583
|
585
|
Ir
|
1100
|
|
Ag
|
27.57
|
DJI
|
12774.51
|
0.3
|
|
Currencies
|
|
|
|
|
|
|
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
0.813
|
79.367
|
0.6434
|
|
EUR
|
1.22943
|
0
|
97.58
|
0.79129
|
|
JPY
|
0.01257
|
1.02461
|
0
|
0.008105
|
|
GBP
|
1.55357
|
1.2632
|
123.307
|
0
|
|
Oil
|
Last
|
%Change
|
Low
|
High
|
|
Brent - Sep
|
98.84
|
-0.89%
|
98.1
|
98.97
|
|
WTI - Sep
|
85.92
|
-0.52%
|
85
|
86.30
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
|
|||
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