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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

Crude oil future contracts closed higher on US economic data (Auto and Housing numbers) a decline in distillate and crude oil inventories in the US, a 3.7% rise in gasoline pump sales kicking off the driving season and a first in 10 week decrease in WTI inventories at Cushing, OK. US housing numbers come out…Read more

Euro falls from the 1.2306 to 1.2264 in early morning trading in Tokyo. Not as steep a fall as we expected but we may see some action when New York opens later today. At the same time the reaction is fairly muted compared to the whiplash we saw earlier. In the news today there is…Read more

Here is what is going to be on our discussion agenda after we come back from the 3 day Memorial Day break Start of the US driving season and its impact on distillate inventory – when will the numbers come out. The constant coverage of Hurricane season in the Gulf of Mexico and the arrival…Read more

Following in the footsteps of Chinese fuel and gas price adjustments earlier this week, OGRA (the Pakistan Oil and Gas Regulatory Authority) cut fuel prices yesterday in Pakistan inline with the reduction in crude oil prices in the Middle East and internationally. New prices on the retail pumps are now Petrol Rs 69.04 per litre…Read more

Euro was steady in early morning trading, Monday, 31st May in Tokyo at 1.2282 according to Reuters. US markets are closed today on account of Memorial Day holiday. Some action is expected as Singapore and then Europe open up for trading. In other news the BP-Top Kill event to plug the Deepwater Horizon Gulf of…Read more