Equity and commodities markets are up around the world on global recovery optimism as French and German manufacturing PMI numbers were better than expected and China’s purchasing managers’ index rose slightly. The US ISM manufacturing data was slightly lower than expected but still above the 50 level. The data seem to suggest that the Euro crisis have been contained and the Chinese economy will have a “soft landing”. The US economy have also been performing well under the circumstances with solid corporate earnings. After last week’s run up in commodities, we would be cautious here and stay on the sidelines until we have clearer data. Oil($100), gold($1750), palladium($700), platinum($1600), and silver($34) are all trading around key psychological levels. Tomorrow’s US employment data should provide clear directions for the Euro/Dollar and the commodities.
Metals | Last | %Change | Low | High |
Au- Apr | 1749.2 | 0.51% | 1735.4 | 1754 |
Pt-Apr | 1616 | 1.78% | 1588.5 | 1622.8 |
Pd-Mar | 695.65 | 1.36% | 684.05 | 698.10 |
Ag-Mar | 33.885 | 1.87% | 33.070 | 34.000 |
London | AM | PM | Minor | PGMs |
Au | 1744 | 1740 | Rh | 1425 |
Pt | 1611 | 1611 | Ru | 110 |
Pd | 693 | 695 | Ir | 1100 |
Ag | 33.8 | DJI | 12767.17 | 134.26 |
Currencies |
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| USD | EUR | JPY | GBP |
USD | 0 | 1.3173 | 0.013139 | 1.5852 |
EUR | 0.7585 | 0 | 0.99762 | 1.2034 |
JPY | 76.11 | 100.26 | 0 | 120.646 |
GBP | 0.6309 | 0.83097 | 0.829 | 0 |
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES |
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