Crude Oil Hits 1-Month Low
Tuesday’s economic calendar was
with only the government report on Consumer Credit
hitting the wires. However, the main influence on the Treasury market today was
the government’s issuance of $21 Bln in 3-yr T-Notes. The auction failed to
attract anything like the desired amount of investors despite offering one of
the highest yields in the past 4-years. The news sent treasuries slightly lower.
Speculation the the BoJ will end its’ zero interest
rate policy soon helped the Yen post an impressive gains versus the Dollar, Euro
and GBP. FOREX traders should check out TradingMarkets
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After hitting a new multi-year high last week, June
Gold fell almost $19 today.
In the energies, Crude Oil hit its’ lowest level in
more than a month. The main reason cited was that traders expect tomorrow’s
inventory data to show a large rise in both crude oil and gasoline inventories.
Natural Gas continued its’ decline, hitting another new low.
Cocoa jumped higher as the UN issued a travel ban
and froze assets of three Ivory Coast politicians accused of blocking UN peace
efforts. Cotton fell sharply, ahead of Thursday’s data. Lumber continued its’
decline, falling to the lowest level in 6-weeks.
All the grains closed lower, while the meats were
Fed: US Dec. Consumer Credit Rises $3.35 Bln.
US Nov. Credit Rose $568 Mln., Revised From $649 Mln. Drop
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