ETF Friday...commodities ETF oil gold silver ...State Street is developing a new ETF family that adjusts for target-date, with Jim Ross, State Street Global Advisors and the Fast Money traders.
Friday, June 26, 2009
The Gold and The Dollar Charts
S&P 500 , dollar loses to the Swiss frank , Gold at 930 level could reach the $1000 an ounce if the dollar keeps on being weak , Gold could easily reach $1200 an ounce and up...The American dollar is coming into a period of weakness, according to Chris Locke, managing director of Oystertrade.com Management. “Cracks are starting to show,” he told CNBC, referring to the price of dollar/yen and the dollar/Swiss franc, which he said could drop to the even $1.00 level.
Australian Dollar Climbs on Yield Demand; kiwi dollar Weakens on GDP
By Garfield Reynolds and Theresa Barraclough
June 26 (Bloomberg) -- Australia’s dollar rose for a fourth day as stocks climbed on speculation investors will buy higher- yielding assets amid signs of a global recovery. New Zealand’s dollar fell after the country’s economy shrank at a faster pace.
Australia’s dollar strengthened against all of the 16 major currencies as prices rose for gold and oil, the nation’s third- and fourth-most valuable commodity exports. New Zealand’s dollar fell against the greenback and all of the most-traded currencies after the statistics bureau said gross domestic product declined 1 percent last quarter, exceeding the median estimate for a 0.7 percent contraction in a Bloomberg News survey.
“We are seeing higher risk appetite across the board,” said Sharada Selvanathan, a currency strategist at BNP Paribas SA in Hong Kong. “With equity markets remaining stable, investors are happy to put their money into good use. The Aussie will do well.”
Australia’s currency gained 0.5 percent to 80.62 U.S. cents as of 1:31 p.m. in Sydney from yesterday in New York. It climbed 0.4 percent to 77.31 yen. New Zealand’s dollar weakened 0.2 percent to 64.40 U.S. cents and slid 0.2 percent to 61.78 yen.
Benchmark interest rates are 3 percent in Australia and 2.5 percent in New Zealand, compared with 0.1 percent in Japan and as low as zero in the U.S., attracting investors to the South Pacific nations’ assets. The risk in these so-called carry trades is that currency market moves can erase profits.
Australia’s dollar may strengthen to as high as 86 U.S. cents by the end of the third quarter, Selvanathan said.
Read entire article
June 26 (Bloomberg) -- Australia’s dollar rose for a fourth day as stocks climbed on speculation investors will buy higher- yielding assets amid signs of a global recovery. New Zealand’s dollar fell after the country’s economy shrank at a faster pace.
Australia’s dollar strengthened against all of the 16 major currencies as prices rose for gold and oil, the nation’s third- and fourth-most valuable commodity exports. New Zealand’s dollar fell against the greenback and all of the most-traded currencies after the statistics bureau said gross domestic product declined 1 percent last quarter, exceeding the median estimate for a 0.7 percent contraction in a Bloomberg News survey.
“We are seeing higher risk appetite across the board,” said Sharada Selvanathan, a currency strategist at BNP Paribas SA in Hong Kong. “With equity markets remaining stable, investors are happy to put their money into good use. The Aussie will do well.”
Australia’s currency gained 0.5 percent to 80.62 U.S. cents as of 1:31 p.m. in Sydney from yesterday in New York. It climbed 0.4 percent to 77.31 yen. New Zealand’s dollar weakened 0.2 percent to 64.40 U.S. cents and slid 0.2 percent to 61.78 yen.
Benchmark interest rates are 3 percent in Australia and 2.5 percent in New Zealand, compared with 0.1 percent in Japan and as low as zero in the U.S., attracting investors to the South Pacific nations’ assets. The risk in these so-called carry trades is that currency market moves can erase profits.
Australia’s dollar may strengthen to as high as 86 U.S. cents by the end of the third quarter, Selvanathan said.
Read entire article
crude Oil above the $70 a barrel again !!!
Oil Rises a Second Day on Shell Pipeline Attack, Equity Gains
By Ben Sharples and Christian Schmollinger
June 26 (Bloomberg) -- Crude oil rose for a second day, trading above $70 a barrel after militants attacked a Royal Dutch Shell Plc pipeline supplying an export terminal in Nigeria, Africa’s largest producer.
The Movement for the Emancipation of the Niger Delta, or MEND, said it disrupted operations at a pipeline supplying Shell’s Bonny terminal. Oil also advanced as U.S. equities gained the most in three weeks and the U.S. dollar declined against the euro.
“The factor supporting oil is the situation in Nigeria, where militants again have claimed to attack oil industry infrastructure,” said David Moore, a commodity strategist with Commonwealth Bank of Australia Ltd. in Sydney. “It seems to have intensified and I suspect it’s something that’s helping keep the oil price at that higher level.”
Crude oil for August delivery rose as much as 54 cents, or 0.8 percent, to $70.77 a barrel in electronic trading on the New York Mercantile Exchange. It was at $70.61 a barrel at 10:06 a.m. Singapore time.
Yesterday, the contract rose $1.56, or 2.3 percent, to settle at $70.23 a barrel. Oil has gained 1.5 percent this week after falling 3.5 percent last week.
The Nikkei 225 Stock Average climbed 32.21, or 0.3 percent, to 9,828.29 as of 9:05 a.m. in Tokyo.
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