Natural Gas Swelters
Natural gas gapped open to a new multi-year high,
rallying on forecasts for warmer temperatures in the Northeast and one day
before the release of the American Gas Association’s weekly report on stocks.
Credit Risk
The yen fell from a two-month high as rumors among
currency dealers circulated that Moody’s or another rating agency could
downgrade Japan’s credit rating.
Downgrade Hurts Yen
Moody’s is expected to downgrade Japan’s credit rating,
sending the yen sharply lower.
Euro FX Grasps For A Foothold
After five consecutive lower closes, the euro FX is due for a rebound.
Soupy Gasoline Staging A Comeback
Unleaded gasoline popped open to a new high but is
pulling back.
False Shots
Unconfirmed reports of gunfire and tank movements in the
Ivory Coast capital of Abidjan appear to have been a false alarm according to officials
from the world’s largest producer of cocoa.
Diamond Rally In Yen
The yen is spurting higher out of a diamond-bottom formation,
rallying after officials in Tokyo intimated that Japanese interest rates will
soon come off near-zero levels and narrow the gap between US and Europe yields.
Cocoa Moves Into The Crosshairs
Cocoa gapped open and kept on going after eyewitnesses in the world’s largest
producing nation, the Ivory Coast, reported gunshots and tank movements in the
capital Abidjan.
Rarified Nat Gas Soars Again
Natural gas ignited once again in trading Wednesday,
closing back near a four-year high.
Buck Bounds On ECB Rate Halt
Dollar index futures
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PowerRating) popped open nearly a dollar.This move comes as the euro, British pound and yen (recovering) are all tradinglower. Due to their weighting on the dollar index, EuroFX futures
Juice And Nazdogs Set To Climb The Tree
After a six-day run that has taken the July contract up 7.5% out of its Christmas-through-summer base, orange juice could see additional follow through.
Wet Soaking Grain Specs
Some of the heaviest rainfall of the year fell across major portions of thegrain belt, sending corn back to probe multi-year lows. Mondays Commitment ofTraders Report with Options showed speculators remained net long corn,while fund traders were net short over 18,000 contracts. Corn is on both the