Crude Oil Hits 7-Month High
Treasuries rose
for the second consecutive day as last week’s
multi-year high in yield appeared to attract investors.
The US Dollar declined against all major currencies, with the largest losses
coming against the AUD, Swiss Franc, GBP and Euro. The Yen was laos weak today
after the BoJ kept interest rates near zero.
Gold traded as high as $608.40 an ounce before reversing and closing below $600.
Silver also gave back most of its gains, in the end only managed to close $0.02
above today’s opening price.
Crude Oil Hits 7-Month High
June Crude Oil closed at another new
contract high as concerns mounted about Iran’s nuclear program and the possible
disruption it could have on global supplies. Unleaded Gas and Heating Oil also
closed at new contract highs. Natural gas rose for the second straight day.
Lumber +1.43% was the only market among the softs to close higher today. Coffee
-3.14% was the biggest decliner after the International Coffee Organization
estimated this year’s crop will be the largest in four years.
All the major grains rose, with Wheat +1.80% leading the advance. Among the
meats, Pork Bellies gained 2.07%.
Economic News
No economic news today.
Ashton Dorkins
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