Pivotfarm Daily News Harvest August 23rd 2010

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Markets in a Flash

As an appetite for risk has
appeared in Europe on this Monday morning
investors have been selling the safety of the greenback and making it look weak

Prior to the open of the US equity
markets the equity futures markets are higher this suggests that the European
uptrend will be followed at the opening bell.

Oil and Gold are moving higher
today. Oil is just below $74.50.

Asian markets finished lower
across the board last night. The Main Japanese and Chinese indices were down.

European equity markets are
higher this morning. The Stoxx 50 is higher by nearly 1%.

News Focus

0830ET – Chicago Fed National Activity Index

Previous              -0.63            Actual                   0

The Chicago Fed
National Activity Index is a monthly index designed to gauge overall economic
activity and inflationary pressure. A positive index reading corresponds to
growth above trend and a negative index reading corresponds to growth below

Potash talks with other possible bidders

It was confirmed
today that Potash, the world’s largest fertilizer producer is in talks with a
number of third parties. Third party talks are underway to discuss the
possibility of a bid to counter BHP Billiton’s $39Bn hostile takeover. The
Chinese state owned chemical company, Sinochem, is a possible contender to BHP
Billiton. The Chinese company last week confirmed it was keeping a close eye on

News Coming Up

EUR Consumer Confidence

Previous               -14         Consensus

Any figure that comes in above consensus
will suggest stronger economic growth and should prove bullish in the markets.