Swiss Francophilia
Markets are responding cautiously with stock index
futures opening lower, gold and silver higher, and crude oil down. Cash Swiss francs rallied sharply in the moments after the strike on the chance
this morning’s crash of flight 587 might have been caused by terrorism. Swiss francs saw heavy buying after the 9/11 attacks, again demonstrating they could be the safe haven asset of choice.
New
York’s phone system is swamped again and cocoa closed early because orders
could not be phoned in to the pit.
Following through on their big momentum surge down
Friday when all four meats contracts closed down their daily limit,
livestock is again down sharply, trading at a contract low. December
live cattle
(
LCZ1 |
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News |
PowerRating) and feeder cattle
(
FCX1 |
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PowerRating), the leading contracts on the
Implosion-5 List, are down the most in the meats with lives off 1.300.
January soybeans
(
SF2 |
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Chart |
News |
PowerRating) are making
headway into their overhead gap. This contract is in Monday’s
Futures Setups as an
Off The Blocks
and is rallying into the overhead gap.
Bond and currency futures are closed for Veterans
Day.