June 2010

US, China, Japan and Australia all had “growth” news and numbers with Australia even mentioning the “I” word. Crude oil NYMEX July futures trading between 74 and 75 per barrel. Goldman cuts its Euro target to 1.15 on anticipated future euro “policy mishaps”. Three economic indicators and two policy rate decisions are due today including:…Read more

American Petroleum Institute inventories drop by larger than expected numbers (4.5 million barrels versus 1.3 barrels of crude oil) while Oil hovers around 72 dollars a barrel in New York. Euro bounces back to 1.1973 on news of intervention and calming comments by Fed Reserve Chair Ben Bernanke on the pace of recovery in the…Read more

So the next likely stop for the falling Euro is 1.15 after the 1.18 barrier is breached according to technical analysts. But the same analysts also feel that 1.18 also represents a great entry point for a bounce back for the European currency. But just in case you are still bearish on the European currency,…Read more

Euro halts it retreat from the sub 1.19 levels to bounce back to 1.1960 in trading in Asia after touching 1.1875 on Monday. NYMEX Crude Oil future contracts for July delivery recover and are stable at 71.5 dollars a barrel range.

Given the beating euro has taken over the last few weeks, analysts have now started talking about exchange parity with the US dollar just as they spoke about euro at 1.2 to a dollar when euro broke the 1.30 barrier. On other fronts the weakness of Australian dollar against its major trading pairs (the US…Read more

The weak US payroll report from Friday, the budget deficit crisis in Hungary over the weekend and the resulting weakness of Euro kept prices under pressure in Asia in morning trade. Oil broke 70 dollars in Asia on Monday morning trading. New York’s main futures contract, light sweet crude, July delivery in July, fell 1.82…Read more

We are all expecting Spain, Italy or Portugal to take a fall. We didn’t expect the already fallen to trip the Euro. Hungary did just that this Friday by announcing that it was having trouble meeting its public deficit goals agreed as part of the IMF bailout in 2008. The Hungary reaction spilled over into…Read more

Euro breaks the 1.20 barrier to touch 1.1973 in New York at 3 pm on Friday afternoon. The weak job reports kick off the rise in US Treasury prices (drop in yields) and a steep decline in US indexes. In commodities crude oil futures for July deliveries fell by more than 3 dollars to break…Read more

Stocks, Euro and commodities slid in unison on a weak US job reports when non-farm payroll only added 534,000 jobs compared to analyst expectations. Euro touched a four year low compared to the US dollar while Oil prices slid to a lower level after some initial excitement in the morning before the US jobs data…Read more

The US unemployment rate is expected to fall to 9.8% in May from 9.9% in April. Estimates range from 9.7% to 9.8.% and analysts are forecasting a rise in non-farm payroll by 615,000. In case of any disappointments in the US jobs report, US treasury prices and US dollar would both trade higher on account…Read more