gold

Good Morning:

As world equity markets snap 2 days of gains-the JPY advanced as investors look for a “safer haven” for their funds.
The JPY also gained as speculation mounts that Japanese companies are repatriating profits before the end of the fiscal year.  New tax breaks initiated by the Japanese government may lead to “larger than normal” repatriations.
The GBP lost ground overnight as Moody’s Investor Services said that U.K. banks creditworthiness may be at risk.

Good Morning:

The JPY fell as speculation that the BOJ may step up credit easing measures as the US economy get stronger.

In general the markets were quiet ahead of NFP and the US employment data today.
Greek Prime Minister Papandreou will be meeting with German Chancellor Merkel today-and will be in France on Sunday as he tries to sell the Greek austerity package to his EU allies.  Yesterday’s Greek Bond issue was successful, and hopefully this will keep the debt markets at bay for the time being.

Good Morning:

Both the BOE kept interest rates steady.  BOE did not expand it’s asset purchasing program which was expected.
The ECB also left interst rates unchanged-and will have a conference call at 8:30 AM.
Greece began selling 10 year bonds today-pricing them with a yield of 6.39% vs.6.1% on their current bonds.
Greece’s prime Minister has promised to reduce their budget deficit by cutting spending and wages.  Today protesters occupied the finance ministry as a protest against the new proposals.

Good Morning:

Greek Prime Minister Papandreous announced an additional $6.6 billion of deficit cuts for the country.  As EU members contemplate a bailout package for Greece, the Greek government must prove to it’s allies that they can control  their deficit problems.  Public workers have various protests planned to demonstrate against any reduction in benefits.
The GBP rose as UK consumer confidence jumped to a 2 year high.  The Euro picked up overnight as Greece announced their deficit reduction plan.

Good Morning:

Good Morning:

The GBP slid below $1.50 for the first time in 10 months, as polls show that the Tories have the smallest lead over the Labour Party in more than 2 years-thus any legislation to assist the economy may get stalled in Parliament.
On another note-the JPY fell as investors look for higher-yielding assets.
The Euro continues to be under pressusre as the debt issues that are hurting Greece may (are) spead to other Souhern European countries.

World equity markets rose-and US Futures are pointing to a higher oipening this morning.

Oil:$79.57 Gold:$1112.70

Good Morning:

The USD and JPY dropped overnight as signs that the global recovery is getting more and more traction, thus increasing demand for higher-yielding assets.
Greece’s debt problems will still put pressure on the Euro, and may dampen demand for EuroZone assets.

World equity markets are higher-and US Futures are lower at this time.

Oil:$78.40                            Gold:$1107.20 

Good Morning:

The Euro dropped as Moody’s Investor Service and S&P said they may cut Greece’s rating.  Sovereign debt issues are a rising concern for investors, and may put upward pressure on interest rates in other developed countries. 

Fed Chairman Bernanke continues his speaking engagement in front of  Congress, and yesterday reiterated his stance on keeping interest rates low to keep the economy on the road to recovery.

World equity markets are lower-and US Futures are also pointing to a lower opening this morning.

Good Morning:

The USD lost some ground overnight on speculation that the Federal Reserve will continue to keep interest rates at historic lows.  By keeping interst rates at near zero-the Fed is hoping to support the US economy’s growth.
Investors are hoping that Fed Chairman Bernanke will tell Congress that last weeks increase in the discount rate, is not the beginning of higher interest rates in the near future.