Platinum Hits 25-Year High
Energy prices fell sharply as warm weather
returned to the northeast US and comments from OPEC’s showed the cartel intends
to maintain current production levels.
Existing Home Sales fell more than expected in October (report).
The National Association of Realtors reported a 2.7% drop last month.
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Bonds
The larger than expected drop in home sales sent treasuries
higher.
FX
Declining Home Sales data pushed the Dollar to its biggest
loss in 7-weeks versus the Euro. The Dollar also declined versus the Yen to help
push the US Dollar Index lower by 1.19%.
Energies
Heating Oil hit a 4-month low today, declining 3.21%. Natural
Gas and Unleaded Gas also lost more than 3%.
Metals
Platinum hit a 25-year high, closing above $1000 for the first
time since 1980. The entire metals group closed higher, with Silver and Copper
posting the largest gains on a percentage basis.
Grains
None of the major grains closed +/- 1%.
Softs
Sugar moved higher, boosted by last week’s positive news from
the EU on subsidies. Coffee closed lower on expectations Brazil’s next crop will
be substantial.
Livestock
Lean Hogs rose 1.80% to a new contract-high. Prices are being
helped by concerns about Avian Flu.
Economic News
Existing Home Sales:
Actual – 7.090 Mln Consensus 7.190 Mln
Ashton Dorkins
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