Daily Futures Commentary April 27, 2010
April 27, 2010
Weaker Euro, British Pound Driving Down Demand for Riskier Assets
Stock indices, gold and crude oil are all expected to open lower due to lower demand for higher yielding assets. The weaker Euro and British Pound are helping to spread
fear and uncertainty around the markets this morning.
The June E-mini S&P 500 is expected to open lower after yesterday closing price reversal top was confirmed. The daily chart indicates that a break to 1198.25 to
1194.00 is likely over the near-term.
June Treasury Bonds are expected to open higher due to increased demand for safety and lower yielding assets. Gains could be limited as traders may be a little reluctant
to increase their long positions amid this week’s auction and subsequent increases in supply.
The stronger Dollar is pressuring June Gold and June Crude Oil. Both markets are also down because of the weaker Euro. Gold’s losses could be limited if speculators
decide to buy the metal as a hedge against a collapse in the …
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