Thanks Speckled :) greatly appreciated!

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nihilism

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20/05/16

07:44

Post #: 17819520
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Originally posted by speckledjim1 ↑

Morning all
Thanks AM crew

Markets were weaker overnight as talks of higher interest rates in an economy that can't really function well at .5% continued to keep risk off.
SPI point just 4 points lower, however weakness in commodities may see more downside.

The major theme in the US is higher interest rates in June seemingly made by every Fed member except the head. Such talk is putting a dampener on moves higher, but is it any more than a boy crying wolf?
S&P -.4%
Nasdaq -.6%

Iron ore mining giant Vale issued a blunt assessment of its' view on the market: first, this year's dramatic run-up isn't fully justified by the fundamentals; second, low-cost supply will pick up and third Vale will compete at any price level.
Iron ore - 5.8% @ $53.47
BHP - 3.4% in London

Three-month copper on the London Metal Exchange ended 0.7 per cent down at $US4580 a tonne, having touched its lowest since February 17 at $US4540. Copper has been flirting with a key technical level of $US4580-$US4600 over the past few days, sliding below it during the day but often pushing back above by the end of trading.
"There's a real danger we could see fresh cycle lows in the second half of this year," said Robin Bhar, head of metals research at Societe Generale in London. "There's still subdued demand, not much restocking despite second-quarter peak seasonal demand, and there is also abundant supply across the board. The final negative factor is the strengthening of the dollar and a possibility that the Fed may move sooner than thought." 1

Oil $48.27

Gold prices ended the U.S. day session solidly lower and scored a three-week low Thursday, on follow-through selling pressure in the wake of bearish FOMC minutes that were released Wednesday afternoon. Prices did finish up from the daily lows Thursday. An appreciating U.S. dollar following the FOMC minutes is also working against the precious metals markets bulls. The U.S. dollar index hit a four-week high today. 2
Gold $1254
HUI +2%
AUD Gold $1736

AUD .7226

Have a good day

1 SMH
2 *****

Chuckler material not upto standard this week so postponed

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Thanks Speckled :) greatly appreciated!

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Thanks Speckled :) greatly appreciated!

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