daytrades july 14 morning ...

Merci Highlandlad & Bonjour mon Traders,

US - Market Reflections - Wednesday 13th July, 2011

Straight out talk by Ben Bernanke about new stimulus drove the Dow up 1-1/2 percent before, however, spirits fizzled for a closing gain of only 0.4 percent to just under 12,500. Yet gold didn't fizzle, rising more than $10 to new record ground over $1,580 on the prospect that interest rates will remain low, a prospect that increases gold's value relative to interest bearing assets. Low rates make the dollar less attractive to hold relative to currencies where rates are higher. The dollar index fell 3/4 of a percent. Treasury rates moved lower with the 3-month rate once again in negative ground at 0.01 percent.

Market Focus in the US this evening

How will Ben Bernanke use his second day of testimony? Will he further stress the possible need for further stimulus?
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The DJIA Index finished the trading session: Up 44.73 points; and
The the SPI Futures are currently trading: Up 2 points.
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On the 'Economic news' front, please note the following:-

Of note in the US this evening:

Ben Bernanke speaks
[Testifies before Senate Committee on Banking, Housing, and Urban Affairs on Semiannual Monetary Policy Report to the Congress in Washington.]

Producer Price Index

Retail Sales

Jobless Claims

Business Inventories


Of note in Australia today:

Consumer Inflation Expectation (Jun)


Of note elsewhere today/this evening:

European Monetary Union - ECB Monthly Report

European Monetary Union - Consumer Price Index (YoY) (Jun)

European Monetary Union - Consumer Price Index - Core (YoY) (Jun)

European Monetary Union - Consumer Price Index (MoM) (Jun)

Japan - BoJ Monetary Policy Meeting Minutes


- denotes: Market Moving Indicator
- denotes: Merits Extra Attention

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Gold is currently sitting trading Up $1.90 atm and is sitting at US$1,584.50/oz atm;
Oil (Nymex Crude) is currently trading Up $0.01 atm and is sitting at US$98.06/bbl atm
The Dollar: The AUD is currently trading @ $1.0779c against the US Dollar

Sources used above: bloomberg.com; nasdaq.com; dailyfx.com; fxstreet.com; & kitco.com
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Bonne journee!

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