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Forex Technical Report

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Futures Market Technical and Fundamental Recap

Wed, Jun 10 2009, 10:07 GMT
by Forex Hound Analysis Team

ForexHound.com

The weaker U.S. Dollar led to strength in the commodity markets.  Traders were buying commodities in anticipation of the return of inflation. 

July Crude Oil closed over the $70 barrier for the first time in several months.  Some of the strength was driven by inflationary expectations.  Most of the strength however came from expectations of greater demand and a decrease in supply.

August Gold and July Silver regained some of their recent losses.  The main trend is still up despite the recent weakness but this market has not corrected to any major support zone to trigger really strong buying.

Stock Indices remained firm.  Traders are now expecting these markets to rally to new highs for the year before making any substantial correction.  Traders seem to be willing to buy breaks and back away from rallies.  A strong spike to the upside will be an indication that the last of the bears are finally giving in to the rally. 

The U.S. Dollar traded weaker on Tuesday.  Money flowed into the commodity-based June Canadian Dollar.  British Pound traders also seemed happy that the political problems in the U.K. may be going away

September Bonds and Notes traded in a tight and narrow range as traders awaited this week’s Treasury auction.  As long as yields remain reasonable and bids firm, look for this sideways action to prevail. 

Grain markets could move higher tomorrow following the release of the USDA Supply and Demand Report.  Traders are expecting the USDA report to be friendly toward both Corn and Soybeans.  A low inventory supply figure is expected to support Soybeans.  Corn numbers could drop as a smaller crop is expected to be planted this year

By FuturesHound.com the portal for Analysis, Education and exclusive timely market Gann Analysis.

Disclaimer: Trading Futures on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

Published on  Wed, Jun 10 2009, 10:09 GMT