Dec 31


  • BY:
  • December, 31st, 2013 9:05 +00:00

Good morning,

The Stoxx Europe 600 Index is trading at 327.64 (+0.2%).  The FTSE100 is trading at 6,739.55 (+0.12%) and will close at 13:30 GMT. Exchanges in Germany , Italy  and Switzerland are closed and will open again on Thursday.

In the currency market the EUR is quite weak this morning: EURUSD at 1.3773 (-0.21%) and the EurGbp is trading at 0.8336 (-0.31%) and EurCad at 1.4658 (-0.24%).  UsdJpy is consolidating above 105 at 105.09 (-0.05%) and the cable is again above 1.65: GbpUsd 1.6524 (+0.15%).

UsdChf wants to gain 0.89 area after the losses of the previous trading session and is trading at 0.8899 (+0.23%).  The AudUsd  after the multiple bottom at 0.882 is trading at 0.8926 (+0.27%).

Gold is trading in a range around 1,200 $/ounce and now is at 1,198.95 (+0.22%) and Silver is below 20 $/ounce after yesterday selloff and is at 19.44 $/ounce (-0.59%).  Precious metals are having the worst year since 1981, and traders are reshaping  their strategies for the 2014: it would be the year for a rebound or the bear market will keep  bringing down prices?

Technical and fundamental factors will be important for sure but so far it was the monetary easing and the expectation of rising inflation that fueled a multiyear rally for not only commodities but risky asset as well.

Crude oil lost area 100$/barrel and is trading below its 200SMA at 99.19 $/barrel (-0.10%). Natural Gas still trading above 4 $/BTU at 4.41 (-0.45%).

The Case Shiller 20-city Index (14:00 GMT) and the Consumer Confidence (15:00 GMT) data will be released today in US in a trading session that will close at 18 GMT for the new year eve.