Day Trading 19 May Pre Market

Morning all
Thanks AM crew

The local market is set for a flat open from the SPI this morning with a 4 point weaker start indicated after a strong night in the States for financial stocks and the US dollar offset early losses in consumer and materials stocks.

Comments from Fed goons hinting off a rate rise in June were enough to give the US dollar a strong boost and fuel for buying of financial stocks, effectively cancelling earlier the session weakness.
Officials from the U.S. central bank said it would be appropriate to raise interest rates in June if economic data points to stronger second-quarter growth as well as firming inflation and employment. 1

The comments were bearish on comoditites, oil retreating from a seven-month high.
$47.89 - .42c

Copper fell 1.4%, Nickel 2%

Gold prices are lower in afternoon U.S. trading Tuesday, pressured by just-released FOMC minutes that were deemed to favou the hawkish camp on U.S. monetary policy. A higher U.S. dollar index on this day was also a bearish element for the precious metals markets. Gold futures was at $1,258
HUI - 8.2%
AUD Gold $1742

The AUD retreated sharply in the wake of the Fed comments
.7219


1 Reuters