Good Morning all (thanks Highlandlad),
US - Market Reflections - Monday 27th June, 2011
Building confidence that Greece will pass new austerity measures and that lenders will extend maturities of existing debt triggered a round of bargain hunting. The Dow reversed Friday's losses with a nearly one percent gain and is back over 12,000 at 12,043. The euro also benefited, up 1/2 percent to $1.4275 which made for a 1/2 percent dip in the dollar index. Accounts sold Treasuries to push the 30-year yield up a sharp 10 basis points to 4.28 percent. Oil held steady above $90 while gold dipped slightly just below $1,500.
Market Focus in the US this evening
The consumer confidence report will offer the consumer's assessment of this month's jobs market.
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The DJIA Index finished the trading session: Up 108.98 points; and
The the SPI Futures are currently trading: Up 49 point.
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On the 'Economic news' front, please note the following:-
Of note in the US this evening:
S&P Case-Shiller HPI
Consumer Confidence
Richard Fisher speaks
[The office of president and CEO of the Federal Reserve Bank of Dallas. He gives a press conference as to how the Fed observes the current U.S. economy and the value of USD. His comments may influence the volatility of USD and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative, or bearish for the Dollar.]
Of note in Australia today:
Please note there is no key data due to be reported in Australia today.
Of note elsewhere today/this evening:
Germany - Consumer Price Index (YoY) (Jun)
United Kingdom - Gross Domestic Product (QoQ) (Q1)
Switzerland - UBS Consumption Indicator (May)
Germany - Gfk Consumer Confidence Survey (Jul)
Germany - Consumer Price Index (MoM) (Jun)
United Kingdom - Total Business Investment (YoY) (Q1)
United Kingdom - Gross Domestic Product (YoY) (Q1)
United Kingdom - Current Account (Q1)
European Monetary Union - ECB Trichet's Speech
Japan - Industrial Production (YoY) (May)- denotes: Market Moving Indicator
- denotes: Merits Extra Attention
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Gold is currently sitting trading Up $2.30 atm and is sitting at US$1,499.20/oz atm;
Oil (Nymex Crude) is currently trading Up $0.69 atm and is sitting at US$91.30/bbl atm
The Dollar: The AUD is currently trading @ $1.0462c against the US Dollar
Sources used above: bloomberg.com; nasdaq.com; dailyfx.com; fxstreet.com; & kitco.com
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Have a great day.
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