GOOD MORNING ALL, PJ AND HLL,..HERE'S AN OVERNIGHT MARKET...

GOOD MORNING ALL, PJ AND HLL,..
HERE'S AN OVERNIGHT MARKET UPDATE:

> The Australian SPI 200 Mar 10 futures contract was down 8 points or 0.2% to 4465.

> And the Australian bond futures moved in contrast with the US Treasuries yet underperformed at the long end of the curve. The implied yield on 3-year bond futures was up 1bps to 4.730% (price down 1bps to 95.270) and the implied yield on the 10-year bond futures lost 2bps to 5.460% (price up 2bps to 94.540).

> Meanwhile the US equities were mixed, rallying on analyst upgrades of Home Depot, Google and Amazon but were weighed on late in the session due to concerns over deteriorating European government finances. At the time of writing, the DJIA was down 0.4% to 9977, the S&P 500 lost 0.1% to 1065 and the Nasdaq was flat at 2141.

> And the European equities were higher overnight as food and mining companies rallied and a technical indicator showed equities may have already fallen too far. The DJ Euro Stoxx 50 rose 1.2% to 2664, the German DAX gained 0.9% to 5485 and the FTSE was 0.6% higher at 5092.

> Our AUD fluctuated against major crosses overnight as Europes debt concerns discouraged investors from higher yielding assets. AUD/USD traded as high as 0.8710 however opens lower around 0.8660. AUD/EUR trades at 0.6330 after a quiet trading session. AUD/JPY opens at 77.30 trading sideways overnight and the AUD/NZD cross is higher at 1.2648 after gaining steadily.

> Alos it was a mixed night for the USD against major counterparts overnight. EUR/USD declined steadily overnight but later pared losses to open marginally higher above 1.3660. GBP/USD trades at 1.5605 after a choppy session and the USD/JPY starts the days trade at 89.31 after a quiet night.

> And the Spot gold was choppy overnight as the US dollar fluctuated. Spot gold was virtually unchanged at US$1,065.96 an ounce.

> The US bond yields were lower overnight as the governments scheduled sales of a record-tying $81 billion in notes and bonds this week, outweighing concerns that some European nations may default on their debt. The yield on 2-year notes rose 2bps to 0.779%, whilst the 10-year yield gained 2bps to 3.589%.

> Also Crude oil rose for the first time in four days after the US National Weather Service forecasted a new winter storm in the US mid-Atlantic region. WTI futures contract for Mar 10 rose 0.9% to US$71.84 a barrel.

> And the US sugar rose 1.6% on concerns that the global-production deficit would widen as adverse weather curbs cane crops in Mexico, China, Thailand and Brazil. Corn, soybeans and wheat gained 1.4%, 2.0% and 2.5%, respectively, as the weakening US dollar increased the appeal of the commodities. Palm oil futures were 1.1% higher.

> Finally, the LME copper increased 2.7% to US$6,450, halting a three-day slump on signs that the demand is stable in China. Other base metal futures traded positive with zinc, aluminium, lead and nickel increasing 4.3%, 1.6%, 1.5% and 1.3%, respectively.

GOOD LUCK TO ALL TRADERS!