Happy Mufti Day Traders, US - Market Reflections - Thursday,...

Happy Mufti Day Traders,

US - Market Reflections - Thursday, 26th May, 2011

Economic momentum has eased based on a run of recent data including a rising trend for jobless claims and today's soft demand revisions for first-quarter GDP. But the news couldn't shake the Dow which ended fractionally higher at 12,402. High oil, holding at what may be the new normal of $100, remains a drag on the consumer who more and more retailers are warning is spending less.

This week is memorable in the Treasury market given a run of extremely strong auctions including record coverage for today's 7-year note. Demand may be getting a boost from the sovereign troubles that continue to dog Europe. Buyers are accepting lower yields for Treasuries where the 2-year fell five basis points to 48 basis points. The 30-year yield fell six basis points to 4.22 percent. Low yields are easing demand for the dollar which fell 1/2 percentage point on the dollar index. Gold ended steady at $1,520.

US - Market Focus in the US this evening

The health of the consumer may be in trouble again. Watch for wage data in today's personal income report.

[Source used: bloomberg.com / nasdaq.com]
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The DJIA Index finished the last trading session: Down 8.10 points; and
The SPI Futures are currently: Up 5 points atm.
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Of note in the US this evening:

Personal Income and Outlays [ Market moving indicator]

Pending Home Sales Index [ Market moving indicator]

Consumer Sentiment [ Merits extra attention]

...AND...

Of note in Australia today:

Please note there is no key 'Economic news' due to be reported in Australia today.

...AND...

Of note elsewhere today/this evening:

All - G8 Meeting [ Merits extra attention]

Germany - Consumer Price Index (MoM) (YoY) (May) [ Merits extra attention]

European Monetary Union - Economic Confidence (May) [ Merits extra attention]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

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Gold is currently trading Up $4.40c atm and is sitting at US$1,523.80/oz;
Oil (Nymex Crude) is currently trading neutral atm and is sitting at US$100.23/bbl atm
The Dollar: The AUD is currently trading @ $1.0634c against the US Dollar

[Sources used: kitco.com; bloomberg.com; nasdaq.com & fxstreet.com]
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Have a great day trading today all.

Cheers, Tweets

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