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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