daytrades june3 morning ...

Good Morning Traders,

US - Market Reflections - Thursday, 2nd June, 2011

Greece stole center stage again on Thursday amid conflicting reports whether a new aid package is or isn't coming together. Gold, which was down $20 on technical selling by industrial names, recovered lost ground on the Greek uncertainty to end at $1,535. Moody's also helped demand for gold, warning during afternoon trading that it may have to downgrade its outlook for the U.S. if a budget deal doesn't begin to get hammered out. The Moody's news didn't help demand for Treasuries where yields shot up including an 11 basis point jump for the 30-year to 4.25 percent.

Economic data were mixed with chain-store sales proving flat to soft in May but with jobless claims moving slightly lower. The Dow moved slightly lower, down 1/3 of a percent to 12,248.

Market Focus in the US this evening

A non-farm payroll total above the downward revised consensus of 170,000 would help settle the frazzled nerves of the financial markets.

[Sources used: bloomberg.com / nasdaq.com]
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The DJIA Index finished the trading session: Down 41.59 points; and
The All Ords are currently: Down 2 points atm.
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Of note in the US this evening:

Employment Situation [ Market moving indicator]

ISM Non-Mfg Index [Merits extra attention]

Daniel Tarullo speaks
[Federal Reserve Gov. - Speech on U.S. and international financial regulatory reform to the Peterson Institute in Washington.]

Eric Rosengren speaks
[Boston Federal Reserve Bank President - Speech to the Stanford Finance Forum in Stanford, California.]

...AND...

Of note in Australia today:

AiG Performance of Services Index (May) [Merits extra attention]
[AiG Performance of Services Index released by the Australian Industry Group presents business conditions in the Australian service sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]

...AND...

Of note elsewhere today/this evening:

Germany - Purchasing Manager Index Services (May) [Merits extra attention]

European Monetary Union - Purchasing Manager Index Services (May) [Merits extra attention]

United Kingdom - Purchasing Manager Index Services (May) [Merits extra attention]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

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Gold is currently trading Down $0.40c atm and is sitting at US$1,533.40/oz;
Oil (Nymex Crude) is currently trading Up $0.30c atm and is sitting at US$100.70/bbl atm
The Dollar: The AUD is currently trading @ $1.0687c against the US Dollar

[Sources used: kitco.com; bloomberg.com; nasdaq.com & fxstreet.com]
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Have a great day.

Cheers, Tweets

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