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Pivotfarm Daily News Harvest 9th August 2010
Markets in a Flash
·
The USD seems to be regaining
ground against the JPY after the currency pair showed the JPY rising.
·
The GBP/USD is trading just
below the 1.600 level, near to its 6 month highs. A break though this level may
be significant.
·
US equity futures are higher
this morning indicating the equity markets will open higher at the bell.
·
Most commodities are higher
today. Oil is trading nearly +1% higher above $82.00. Gold is trading above the
$1200.00 mark.
·
Wheat has fallen today as
investors take profits after the rise on the Russian ban.
·
Asian markets mainly pushed
higher over night. The Nikkei 225 finished down -0.72% while other indices
pushed higher.
·
European equity markets are
pushing higher this morning. The Stoxx 50 is up +1.58%.
News focus
Whistle blowers will be rewarded by the US
The US Frank
Dodd financial reform act is to offer incentives to people who blow the whistle
on illegal activities in the financial world. It is expected that there will be
a surge in allegations as it becomes possible for people to net multimillion
dollar payoffs if information that they provide is original and leads to a
conviction.
Fed meeting tomorrow
Tomorrow’s
meeting of the Federal Open Market Committee is what the markets are anticipating
today. As there is no large data releases today Tuesday’s meeting is the next
indicator of direction. Ahead of this the markets appear to be showing bullish
signs, this may indicate that investors are expecting the Fed to loosen
monetary policy to spur growth after the slew of economic data suggesting
growth is slowing.
Coming up Today
No
important releases today
»
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Afraid the GB will trade through 160 this time? SOLD!
and I'm going to go out on a limb here and guess that whistleblowing evidence from the non MSM will be duly ignored as usual