Markets have been relatively subdued
but could see some choppy trading today as investors position themselves
ahead of a number of key economic events both here at home and abroad.
On Wednesday, Germany’s Constitutional Court will deliver
its ruling on the European Stability Mechanism which could have a major
impact on the ECB’s ability to right the ship. “Headline Risk” in the
region has grown to include Dutch elections which could bring to power a
less than willing participant in the bailout
arena. Here in the U.S. investors are awaiting the start of the FOMC
meeting which will conclude on Thursday. Expectations of a third round
of quantitative easing are high as recent indications from Fed Chairman
Bernanke and a weak jobs report last Friday
give many reason to believe that the Fed can’t hold out any longer.
Tensions in South Africa, between mining companies and the mining
unions, persist and continue to support the PGM complex as platinum is
now trading above $1600 while palladium is trading
slightly higher than yesterday’s close at $674. Have a great day!
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