A very quiet session overnight in the commodities complex with precious metals
trading in a tight range. After the release of US personal
income(Increase 0.4%) and spending data(Increase 0.3%), gold and silver
fell to new session lows of
$1645 and $30.60(Down over 2.5%). Chicago PMI number came in at 56.2
which was lower than the expected 60.5. Dallas Fed manufacturing
activity came in at -3.4 instead of the expected 8.0. Gold and silver
have recovered from session lows since the gold fix.
The focus in Europe continues to be on Spain as GDP contracted 0.3% in
Q1 and economy falls further into recession. The only bright spot in
Europe is Germany as retail sales numbers increased 0.8% month over
month and 2.3% year over year. The debate will continue
in Europe regarding the impact of economic austerity versus future
growth as Europeans protest against their governments. Traders will
continue to decipher economic data to see if the US FED will have
another round of QE and if the ECB will lower interest
rates at the next meeting on May 3rd. We would be cautiously
long gold and silver for the QE play and anticipation of weak US
employment data on Thursday and Friday.
|
Metals
|
Last
|
%Change
|
Low
|
High
|
|
Au-Jun
|
1660
|
-0.30%
|
1645.1
|
1666.5
|
|
Pt-Jul
|
1570.5
|
-0.30%
|
1566.3
|
1578.8
|
|
Pd-Jun
|
678.75
|
-0.40%
|
675.60
|
685.00
|
|
Ag-Jul
|
30.800
|
-1.95%
|
30.600
|
31.445
|
|
London
|
AM
|
PM
|
Minor
|
PGMs
|
|
Au
|
1662.5
|
1651.25
|
Rh
|
1390
|
|
Pt
|
1574
|
1570
|
Ru
|
115
|
|
Pd
|
682
|
679
|
Ir
|
1100
|
|
Ag
|
31.2
|
DJI
|
13195.62
|
-32.69
|
|
Currencies
|
|
|
|
|
|
|
USD
|
EUR
|
JPY
|
GBP
|
|
USD
|
0
|
1.3229
|
0.012522
|
1.6228
|
|
EUR
|
0.756
|
0
|
0.94662
|
1.2267
|
|
JPY
|
79.86
|
105.65
|
0
|
129.601
|
|
GBP
|
0.6162
|
0.81517
|
0.7716
|
0
|
|
|
|
|
|
|
|
Crude Brent
|
119.06
|
Comex Copper
|
383
|
|
|
Crude WTI
|
104.14
|
Nat Gas
|
2.215
|
|
|
*THESE PRICES ARE FOR INDICATION ONLY CALL FOR QUOTES
|
|
|||
No comments:
Post a Comment