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Friday, April 28, 2006

Gold At 26-Year Highs!

Gold at 26-year highs! Gold futures have shaken-off last week's correction with abandon, as speculators rush to buy the entire metals complex. Continuing tensions with Iran over re-establishing their nuclear program have escalated, with the International Atomic Energy Agency reporting to the U.N. Security Council that Iran has successfully enriched uranium. Iran's President Mahmoud Ahmadinejad said today that his country does not care about U.N. resolutions and will continue its nuclear program. Read More....

Markets To Watch Today

The Dollar finished of a tough week under additional pressure. The market now feels assured that precious few rate increases remain for the Dollar. Despite the robust data early on, a lack of rate support, combined with structural trade imbalances, a pessimistic Fed chairman, and a escalating dispute with Iran seem to have been too much for the greenback this week. Keep in mind that Monday is a holiday throughout Europe, and as such, volumes may be light.

CBOT To List Ag Futures on E-CBOT During Daytime Session

The CBOT has announced plans to start trading agricultural products electronically during daytime trading hours. Starting August 1st, the eCBOT will be trading Corn, Wheat, Soybean, Soybean Oil, Soybean Meal, Rough Rice and Oat futures contracts electronically side-by-by with the open-outcry markets. Trading hours will be from 9:30 am to 1:15 pm Central Time. Current overnight trading hours, from 6:30 pm to 6:00 am, will remain. Additionally, the exchange plans to introduce South American Soybean and Ethanol futures contracts to trade electronically. Please note, the ticker symbols do and will differ from those contracts trading in the pit, but the contract specifications are the same making the electronic contracts fully fungible with the pit traded contracts.

USD/CHF: A Weekly View

The Euro had a big day yesterday, in the wake of comments by Ben Bernanke who was testifying before Congress. Much has been written about Mr. Bernanke and the Fed being in a state of "data dependence." Given yesterday's commentary, it would seem that the central bank is markedly independent of the data. Read More....

Silver Consolidates

Silver consolidates: After one of the most volatile weeks in Silver trading since the Hunt brothers attempted to corner the Silver market in 1980, Silver futures have finally begun to settle down a bit. Since "Black Thursday" on April 20th, when Silver futures fell over $2 in a single session, prices have started to form a consolidation pattern between $12.50 and $13.00. Traders will be awaiting today's release of the weekly Commitment of Traders report to see how much of the speculative long position has been liquidated the past week. Read More....

Markets To Watch Today

Metals: The metals continue to climb higher this morning. After a brief correction early in the session on Thursday after China announced a raise in interest rates, Gold, Silver and Copper all rallied and are finding continued support to maintain their bull run. June Gold is trading at 646.30, up $10 this morning. May Silver is trading at 12.820, up 3.50 cents this morning. June Copper is trading at 3.3100, up 8.15 cents this morning.


Crude Oil: Crude is climbing on fears of Iranian retaliation to the UN report to be released later today. The June Crude contract is trading at 71.68, up 71 cents in the overnight ACCESS market.


Indexes: The Dollar took a hit yesterday on the remarks of Fed Chairman Ben Bernanke, who signaled a "pause" in interest rate hikes is nearing. The June Dollar Index is trading at 86.18, down .22 for the session.

Thursday, April 27, 2006

China's Rate Hike Cools Off Copper Market

China's interest rate hike cools off red hot Copper market. Metals traders have been watching in awe the historic rise of the Copper market. In one years time, Copper prices have nearly tripled. Strong demand from booming economies in Asia, especially China, have thrown many industrial commodities into bull markets. Among the strongest has been Copper. Read More....

FX Closing Comments

The Dollar fell against most currencies today following testimony from Ben Bernanke to Congress. His commentary was thought to be dovish and he implied that U.S. growth may taper-off towards the end of the year. Tomorrow will bring us the first quarter GDP figures, which are thought to be robust.

Energy Bear Market?

Energy bear market? With the news media harping on record high Crude Oil and Gasoline prices, you would think that the entire energy complex was soaring out of site. Well, you would be wrong. Natural Gas prices have fallen over $7 since hitting all-time highs back in December. This is one market where high prices have cut demand, especially industrial demand. Read More....

Join Us Today At 1:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

AUD/USD: New Range

The Dollar is currently holding steady, as market watchers await the testimony of Fed Chairman Bernanke to Congress. On the heels of robust housing data and brisk durable goods orders, the Dollar has regained some composure in recent sessions. If Bernanke's commentary is deemed to have a bullish or hawkish tone, the Dollar may feel the effects of improved sentiment. Read More....

Markets To Watch Today

Metals: The metals, displaying soaring volatility, fell on the open this morning. Many investors have been gravitating toward Gold as a "safe haven", but fund profit taking and bargain hunting remains key to market movement. Gold is trading at $635, down $7 this morning.

Crude Oil: Crude Oil fell during yesterday's session, and continued lower in overnight trading. Stronger than expected inventory numbers eased concerns over supplies heading into the summer. June Crude is trading at $71.11, down 82 cents on the ACCESS session.

Grains: The CBOT will start trading the grains electronically side by side with the pit on August 1st. A first for the grains.

Wednesday, April 26, 2006

Coffee Perks Up On Short Covering

Coffee perks up on short covering: Bulls and bears are still battling it out for control of the Coffee market, as bulls regained the upper end today on speculative short-covering. After yesterday's nearly 500 point drop, bargain hunters emerged at the opening, bidding up prices. Weak bears then joined in the buying spree, covering short positions before the frost season starts in Brazil. Read More....

FX Closing Comments

The Dollar was tame today, despite the strong durable goods number this morning and the despite March's robust new home sales data. Overall the greenback was mixed throughout the day, losing ground to the Canadian Dollar and Aussie Dollar. Although the big durable goods report had much to do with exceptionally strong Boeing aircraft sales, the core figure remained encouraging and may indeed impact Q1 GDP figure, which are due on Friday. The robust new home sales data is similarly encouraging, though some softening in prices was noted in the report. Tomorrow will bring us Fed Chairman Bernanke's testimony to Congress, which may now have a less cautious tone.

USD/CAD-Breaking Support?

The Dollar seems to be crawling back today after yesterday's robust data. It would appear that 5.25% now seems a more likely top for U.S. rates. A lot of Fed watchers point to the "data dependent" nature of future Fed hikes, and as such, it looks increasingly likely that further upward moves will be required. It is this newly expected rate support that is driving today's Dollar strength. Read More....

Cotton Bucks The Trend

Cotton bucks the trend: Cotton futures have been left out of this year's surge in commodity prices. July Cotton fell to a 16 month lows yesterday, as commodity funds continue to sell with abandon. Trade buying has been light of late, with commercials looking for lower prices before entering the market. China, the largest buyer of US Cotton, is currently out of import licences. Read More....

Join Us Today At 12:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

Markets To Watch Today

Copper: Copper sets new all time highs, again. The contract was pushed higher by increased demand in base metals, an encouraging increase home starts and supply disruptions. Striking miners in Mexico may be joined by those in Chile, as they are expected to vote on approval of a new contract today. May Copper is trading at 3.3800, up 0.0595 this morning.

Silver: Silver remains extremely volatile, making gains of almost 80 cents yesterday and then trading lower this morning. Barclays Global Investors awaits approval from the SEC for its ETF. The company has made a deposit of silver with a custodian to back its Fund, anticipating a positive response. May Silver is trading at 12.560, unchanged this morning.

Crude Oil: Crude Oil got some Presidential relief yesterday as President Bush announced his plan to ease the supply threats by temporarily suspending additional shipments to the Strategic Petroleum Reserve and easing restrictions on gasoline blends. June Crude is trading at 72.48, down 40 cents in the overnight session.

Tuesday, April 25, 2006

FX Closing Comments

The Greenback remains under pressure, though it did not lose very much during today's session. The Euro gained the most ground against the Dollar, on the back of firms data in Germany (strong industrial production figures and a firm IFO index report). The Yen experienced some profit-taking, which pulled the USD/JPY slightly higher on the day. Helping the Dollar late in the session was a very strong consumer confidence figure (109.6) and strong existing housing sales (6.92 million annually through March). The next major release will be tomorrow's durable goods figure, which is expected to show a 4.5% gain for March

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Cautiously Bullish Pound/Dollar

The Dollar continues to be weighted-down by soft sentiment, in light of recent concerns about trade imbalances. Overnight, however, trading ranges kept relatively tight. The Yen's rapid advance was also curtailed during the Asian session. Read More....

Will Oil Prices Suffer From The Gravity Effect?

Will Oil prices suffer from the gravity effect? For the last few weeks, it seemed that Crude Oil futures have made new highs each day. Bullish enthusiasm is rampant, with no signs of slowing down. However, it is during these times that wise traders will be on the lookout for the "gravity effect". Read More...

Markets To Watch Today

Crude Oil: Crude Oil prices were unable to maintain the records highs set last week, giving back nearly two dollars in yesterday's session. The market has gained some momentum in the overnight session, as supply concerns have not eased despite optimistic words from OPEC officials. The June Crude contract is trading at 73.90, up 57 cents in the ACCESS market.

Silver: Silver in on a trampoline, exhibiting volatility previously unseen in this market. After dropping $1.19 in yesterday's session and seeing margins increased by the exchange, the market is once again trading higher this morning. The May contract is trading at 12.480, up 70.5 cents this morning.

Gold: Gold fell victim to some profit taking yesterday, dropping $11.60 in yesterday's session. Bargain hunters are providing support this morning as investors exhibit continued interest in the yellow metal. The June contract is trading at 635.80, up $11.90 this morning.

Monday, April 24, 2006

USD/JPY: Unbalance Concerns

As another week of FX trade gets underway in the U.S., the Dollar seems to be under some pressure. There is a lot of discussion about trade imbalances in the wake of recent statements by the G7 and IMF, which call for greater exchange rate flexibility. There is, however, a gap between what is proscribed and what is practical, especially in the short-term. As a large percentage of the debate centers on China's trade surplus, and trading in the Chinese Yuan is tightly controlled, the issue remains a big question mark over FX markets. Read More....

Too Far! Too Fast!

Too far! Too fast! That is the phrase coming from Gold traders trying to come up with an explanation for the recent sharp sell-off in the yellow metal last week. After making highs not seen since the early 1980's, the entire metals complex was overdue for a correction and correct it did! The sell-off is continuing this morning, with lower Crude Oil futures weighing on Gold. Read More....

FX Closing Comments

The Dollar remained under pressure today,as trading deficits took center stage. After comments from the G7 about the world's trading imbalances, the Japanese Yen rallied strongly, as a proxy for the Chinese Yuan, which does not trade freely. International agencies are bothered by the size of the U.S. trade deficit and its overall effects on capital markets. Today's news provoked the Yen to rally against the Dollar and Euro. The surging Yen prompted a wider bout of Dollar softness, which caused the greenback to slide against all majors. There remains a lot of data on the calendar this week and matters could quickly reverse.

Markets To Watch Today

Metals: The metals are trading lower this morning. After an extremely volatile week in the metals, especially silver, margins were increased in both the Comex and eCBOT contracts. May Silver is trading at 12.610, down 36.5 cents this morning. June Gold is trading at 628.50, down $7 this morning, while May Copper is trading at 3.1100, down 3.05 cents.

Oil: Canada now can be added to the list of Oil producing countries experiencing issues related to production. A shortage of workers in the Canadian province of Alberta has inhibited plans to increase Oil-Sands output. June Crude is trading at $74.45, down 72 cents on the overnight ACCESS session.

Currency: Statements released from the Group of Seven concerning the G-7's position on currencies and warning of global imbalances are having an impact against the dollar, especially in relation to Asian currencies. The June Japanese Yen is trading at .8768, up 0.0134 this morning.

Friday, April 21, 2006

Copper Surges To New All-Time Highs

Copper surges to new all-time highs: Copper futures in both New York and London staged a massive rally to close at new all-time highs. LME Copper jumped almost 8%,and COMEX Copper nearly hit $315.00. Veteran traders were not surprised at the price surge today, after Copper rallied 13 cents to close higher yesterday. Copper supplies remain tight, as exchange warehouse supplies keep dwindling. Read More....

FX Closing Comments

The Dollar was down against all the majors today, but only by a little. Dollar sentiment is now a bit weak, as traders sort through talk of central bank portfolio shifts and add to the edginess surrounding the greenback. As Fed rate hikes come closer to their peak, Dollar bulls are fretting over the prospect of rising EU rates. Next week will begin with the key UK retail sales data for March.

Markets To Watch Today

Crude Oil: Crude Oil futures fell slightly on yesterday's trading and continued lower on the overnight session. While a volatile global picture remains supportive of record prices, some profit taking has preceding the weekend meeting of Oil producing and consuming countries in Qatar. June Crude closed at 73.00 in the ACCESS session.


Metals: A massive sell-off hit the metals markets with Copper finding early support, Gold finding late support and silver finding no support in yesterday's session. Copper and Gold are again trading higher this morning, while the May Silver contract is down another 6 1/2 cents this morning, trading at 12.460 this morning.


Cotton: Cotton found new lows in yesterday's sell-off. Falling to prices not seen since August of last year, the May contract gave up 167 to close at 5088 for the session.

Thursday, April 20, 2006

Massive Metal Meltdown!

Massive metal meltdown! Gravity finally hit the metals complex today, especially Silver futures, as massive long liquidations caused a stampede for the exits. Silver fell over $2, and Gold dropped over $20 at its lowest point, as commodity funds, speculators, and local traders were all in a selling mood. Read More....

FX Closing Comments

FX pairs were as tame as commodity markets were volatile. There were very few major moves, as the last trading gets underway in Asia. With no significant U.S. data left on the calendar this week, markets will be digesting the Asia and European data, which includes French consumer spending and euro-zone trade data.

Join US Today At 1:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

New Zealand/USD: Finding A Bottom?

The Dollar began yesterday's session in rebound mode, after a slightly higher core CPI figure was released, but the greenback eventually fizzled throughout the day. Just one day after many had begun to feel that the Fed would be pausing, people started to think at least one additional rate was in the cards. The major story, however, was commodity markets. Read More...

Lumber Futures Have Been A Laggard

Bulls growing fond of Lumber: Lumber futures have been a laggard in the recent commodity bull trend, with concerns of a weaker US housing market weighing on prices. Now there are signs that the trend may be about to change. Traders shook off yesterday's disappointing housing-start estimate for March, which came in at a seasonally adjusted 1.960 million units, down 7.8%. Read More....

Markets To Watch Today

Natural Gas: Natural Gas prices climbed higher as Crude prices established a new record high closing above $72 a barrel yesterday. The combination of record Crude prices, increased investor demand and a recent heat wave in the Southwest has pushed Natural Gas higher. Abundant supplies coupled with a mild summer may allow prices to rebound. The wild card is Hurricane season. May Natural Gas is trading at 8.192 in overnight trading.

Gold: Gold prices climbed higher yesterday hitting a high of 645 during the day's session. Inflationary concerns and ease of entry have pushed many investors into the yellow metal. The June Gold contract is trading at 639.90, up $4 this morning.

CBOT: CBOT Holding's Inc. has reported first quarter earnings rose 69% with the increased trading activity experienced to begin the year. The company posted a net income of 35.1 million, which translates into 66 cents per share.

Wednesday, April 19, 2006

Silver Goes Parabolic!

Silver goes parabolic! It's a speculative frenzy in Silver futures, with new contract highs being hit again. Just this week, May Silver has climbed over $1.60, as investment funds keep pouring into the metals complex. Silver has been know as speculator's market, as opposed to Gold, which has a bigger investment following. Read More....

FX Closing Bell

The Dollar began the session on the rebound, as a slightly higher core CPI implied that one additional Fed hike might be forthcoming, however, the optimism eventually fizzled-out. The Dollar is down against most majors with the Dollar index closing down 44 points. Tomorrow will bring us the weekly jobless claims and the Philly Fed survey.

Join Us Today At 12:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

USD/CHF: Breaks 100 And 200-Day MA

Yesterday's major event was the release of the minutes from the March 28 FOMC meeting. The theme, which markets were quick to pick-up on, was that many members felt that rate hikes were, indeed, coming to an end. The prospect of peaking rates sent equity markets sharply higher and kept the Dollar under pressure. There was also some fear in the minutes that the Fed might tighten "too much" and restrict growth potential. Read More....

Consolidation In Coffee Continues

Consolidation in Coffee continues: Both bulls and bears have had a rough go in Coffee futures recently, as the market continues its consolidation phase. Fundamentals continue to remain bullish, with Brazilian supplies remaining tight. Government officials report Coffee stocks now total 2,809,725 60 kilogram bags, as of March 31. Read More....

Markets To Watch Today

Crude: Crude is up, again. There is no technical resistance at these record levels and the increased investment, fueled by in your face gas prices, has brought new buyers into the market. Supply fears and Iran's bold stance on nuclear capabilities are key fundamental factors. May Crude is trading at $72.84 in the overnight ACCESS session.


Gold: Gold prices continue to climb on the same fears and new participants. The introduction of ETF's on these commodities has made investment easier for those previously unfamiliar with the market. Gold is trading at $623.00, up $3 this morning.


Natural Gas: Natural Gas futures are up, as well. The key component to the rally would seem to be the remarkable rise is Crude Oil, but Texas has experienced a heat wave that has put unexpected strain on natural gas reserves. Blackouts in the region have caused outages to coal and nuclear power plants, putting a high demand on gas. May Natural Gas is trading at $7.91 in the overnight ACCESS session.

Sugar Bulls Flexed Their Muscles Today

Energy rally sweetens Sugar prices: Sugar bulls flexed their muscles today, with speculative buying sending prices to one-week highs. Record high Crude Oil prices have resulted in increased interest in Sugar, as the use of cane ethanol in Brazil and other nations increases. This is the third straight year that the world Sugar market is in a deficit, and higher prices have not curtailed demand. Read More....

Tuesday, April 18, 2006

Slick Maneuvers - Rising Oil Prices Could be Good News for the Average Investor

As the price of crude oil soared past $70 a barrel this month on its way to eventual stratospheric heights (in the view of many market forecasters), the average investor could be forgiven for failing to see any glimmer of hope in the news. After all, from a consumer standpoint, spiraling prices at the corner gas station are sure to mean that this run-up will level an immediate blow to the wallet, quite possibly to be followed by a general increase in the prices of everything from food to airline tickets as businesses pass along their rising fuel costs to the customer. And even though someone clearly stands to make money in a market that has seen a 15% rise in price since the beginning of the year, precious little information has surfaced regarding how the smaller investor might actually get a piece of this frenzied market.

Perhaps this informational vacuum stems from the fact that commodities, on the whole, do not generally garner the same type of mainstream investment attention that equities and mutual funds do. A fair part of this invisibility from the average investor’s radar likely has to do with the level of risk associated with commodities, but $70 crude oil tends to draw the interest of even the most casual observer. So now, many previously disinterested newcomers are wondering just how they might be able to participate in this increasingly white-hot market, and the range of alternatives they come upon is often a pleasant surprise, with three main avenues for staking a claim.

The most common, straightforward means of getting into the oil game is a traditional futures contract traded on one of the major exchanges. The New York Mercantile Exchange, the Tokyo Commodity Exchange, and the IntercontinentalExchange (formerly known as the International Petroleum Exchange in London) all offer trading in different crude oil futures contracts. By pegging the price of crude to a particular level at a particular time, small investors can utilize the power of leverage offered by futures contracts to enjoy the profits associated with favorable price fluctuations.

One of the common pitfalls of futures contracts for new investors, however, is often the inability to define and, more importantly, maintain a clear investment strategy when the market begins to move. Given the sizable position that one can control for a relatively small outlay for example, a single NYMEX crude oil contract covers 1,000 barrels, or 42,000 gallons even minor price movements can result in substantial account swings, causing many nervous traders to abandon sound goals and strategies. In other words, while the potential for large gains in the futures markets is ever present, so too is the risk of loss, and therefore an honest assessment of one’s risk tolerance is advisable before taking this particular plunge.

Aspiring traders who like the concept of futures but might not have the stomach for piloting a vessel whose slight turns of the wheel can result in such wide shifts of direction may want to ply the crude oil waters in a smaller, more nimble craft known as an E-Mini futures contract. Fully electronic and trading virtually 24 hours per day, the E-Mini crude oil contract features exactly the attributes that its name implies it is simply a smaller, electronic version of the traditional crude oil futures contract. E-Mini crude oil contracts are identical to the full-fledged NYMEX contracts, except at exactly one-half the size. This miniaturization allows new investors to enjoy the same liquidity and price transparency of the industry-standard NYMEX market, but helps to limit the initial investment and, therefore, the inherent market risk. The smaller capital requirement and risk exposure often results in a corresponding psychological benefit for those new to the commodities markets as well, as trading decisions can be based on rational strategic assessments, without the anxiety and distractions associated with sizable equity swings.

A third possibility for dipping a toe into crude oil for the average investor is an option on a futures contract. Like the futures contract itself, an option takes advantage of leverage to allow an investor to control a larger position than his or her initial outlay would allow for in the actual commodity. The main difference between the two investments is that an option gives the holder the right, rather than the obligation, to purchase or sell the underlying futures contract, thus providing a number of possible strategies for managing risk level and time horizon. Retail traders are increasingly embracing commodity options as tools to add leverage, manage risk, diversify portfolios, and enhance current income.

Of course, among the three basic investment alternatives listed here, there is an endless array of potential scenarios to explore with respect to speculation on the price of crude oil. But the simple trio of futures contracts, options on futures contracts, and E-Mini futures contracts give new investors in these markets a decent place to start in determining whether there is, in fact, some good news to be had in this oil rush. Because a shrewd play in the commodities market may help to offset the damage of that painful trip to the gas station.

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FX Closing Comments

The major event today was the release of the minutes from the March 28 FOMC meeting. The emphasis, which markets were quick to pick-up on, was that feeling that rates are indeed peaking. The prospect of peaking rates sent equity markets sharply higher and kept the Dollar under pressure. There was also some fear in the minutes that the Fed might tighten "too much" and restrict growth potential. The prospect of peaking, and eventually declining rates, combined with rising EU and Japanese rates, is making Dollar bulls a bit nervous, irrespective of the lingering "twin deficit" concerns. Tomorrow will give us the equivalent UK document --the MPC minutes, which are expected to be similarly instructive in terms of the likely direction of UK rates.

Markets To Watch Today

Gold: Gold cruised above $600 an ounce and never looked back yesterday as funds and speculators added to long positions. Global tensions and a weakening dollar have enforced already high investor demand. April Gold is trading at $617.60, up 2.20 this morning.

Crude Oil: Crude is following Golds lead, closing above $70 a barrel yesterday. Anxiety over Iran's nuclear ambitions and possible cuts in supply across the globe continue to support the contract. May Crude is trading at $70.55, up a dime this morning.

Sugar: Sugar was influenced by the bull run in the metals and energies yesterday, just to a lesser degree. May Sugar is trading at 17.17, up 0.29 cents this morning

Are Soybeans Setting Up For A Major Move?

Are Soybeans setting up for a major move? Soybean futures seem to have missed out on the major commodity boom led by Crude Oil and the metals complex. Early planting intentions released by the USDA are for US growers to plant 76.89 million acres this year. This would be a new all-time high, and well above the 72.1 million acres planted last year. This comes on top of weak exports, with soybean inspections totaling 732.852 million bushels, down over 20% from the 918.426 million bushels at the same time last year. Read More....

EUR/JPY: The Long-Term View

The Dollar had a very tough day in thin trading on Monday, falling against all other majors. Losses against the Swiss Franc were more pronounced than in other pairs, as the Iranian nuclear dispute continued to factor into the overall Dollar risk equation. With the world's banks now officially back from holidays, trading has, thus far, been restrained. On the data front, March housing starts fell by 7.8% to an annual rate of 1.96m, which is lower than expected and gives some additional credence to the view that housing is entering a slow-down. Producer prices rose 0.5% in March, above expectations for a 0.3% gain. Read More....

Monday, April 17, 2006

FX Closing Comments

The Dollar had a very tough day in thin trading, as the it slid against all the majors. The Dollar losses were especially pronounced against the Swiss Franc in response to increased levels of tension with Iran. The negative sentiment and one-way price action may prove to be an aberration, as many U.S. banks were "unofficially" on holiday and Banks throughout Europe were closed. As such, tomorrow's open may be instructive in terms of the current Dollar sentiment. Rising rate expectations and firm capital inflows would seem to argue for a relatively stable greenback, though energy costs and geo-political issues continue to weigh on the minds of traders.

Silver Future Prices Continue To Soar

Silver bullet: Silver future prices continue to soar, as a sharply lower US Dollar and higher Crude Oil prices sent traders and investors into the metals complex. May Silver hit a 23-year high of 13.38 on thin volume, as most European traders are still on Easter holiday. Traders noted a sharply higher Euro Currency, continued political tensions in Iran, and surging investor interest in commodities as reasons behind the explosive rally. Read More....

EUR/USD: Increased Volatility

With many European banks closed for Easter holidays, the Dollar fell under some heavy pressure during the U.S. morning session, following the Empire Manufacturing Index for April, which dipped to 15.8. Positive Dollar sentiment may be return, however, in light of the Treasury's TIC (capital inflows) data, which was released, showing a robust $86.9b in February; an amount sufficient to cover that months trade deficit ($65.7b). Higher U.S. bond yield are said to be creating favorable conditions for overseas investors, which is helpful to the Dollar. Read More....

Oil Futures Hit The Magical $70 Per Barrel

Crude hits $70! Oil futures hit the magical $70 per barrel late last night, as traders continue to express concerns about unrest in Nigeria, and the political tensions over Iran's nuclear program. Trading volume was lighter than usual overnight, as most of Europe is still on an extended Easter holiday. Prices show no signs of abating any time soon, with the peak summer driving season in the US coming up, and fears of another active hurricane season supporting prices. Read More....

Markets To Watch Today

Metals: The metals are scorching as Copper, Silver and Gold are all higher this morning. Investor demand is the catalyst as opening activity is brisk coming off the 3 day weekend. May Copper is trading at 2.9020, up 8.65 cents. May Silver is trading at 13.160, up 31 cents. April Gold is trading at 607.50, up 11 dollars this morning.

Currency: The dollar is taking a hit this morning against all major currencies. The June Eurocurrency is trading at 1.2285, up 1.33 cents to start the day. The June British Pound is trading at 1.7715, up 1.82 cents. The Dollar Index is trading at 88.44, down .92 this morning.

Thursday, April 13, 2006

FX Closing Comments

FX pairs were once again restrained, as we complete a holiday-shortened week in the U.S. With little news hitting the market, Dollar bulls and bears alike were holding steady. Next week will provide housing start data, which has been closely eyed for signs of softness. Thus far, the housing data has been surprisingly firm overall, though warm winter temperatures across much of the U.S. is seen as skewing the data. Both consumer and producer inflation data is also set for release next week.

GBP/JPY: Becoming Bullish?

Yesterday's better than expected trade data set the Dollar on a firm footing throughout the session, though the gains were small. The British Pound, however, remained more resilient than most, even as jobless claims and the overall unemployment rate inched upwards. This morning, the Dollar remains firm, helped by brisk retails sales, which were up an unexpected .6% in March. Excluding auto sales, the figure is .4%. Read More....

Join Us Today At 1:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

Cattle Correction?

Cattle correction? Live Cattle futures have been in the midst of a 3-month long downtrend. With prices being weighted down by competition from lower pork and poultry prices. The last few sessions have seen some buying come back into the market, with speculative short-covering and buy-stops being triggered in the June contract. Cash prices have recently firmed up with sales in Texas and Kansas bringing $83 to $83.50 last week. Read More....

Markets To Watch Today

Copper: Copper did it again, grabbing new all time highs due to strong sustained industrial demand combined with tightening supplies and pushed by now resolution in Mexico, where miners continue to strike. May Copper is trading at 2.7910, up 1.95 cents as of 7:51 am CDT.


Crude Oil: Crude actually fell yesterday on higher stocks reported by the EIA, while petroleum-based products made gains on reported inventory drains. Government estimates of higher gas prices this summer come as little surprise to the market. May Crude is trading at 68.13, down 0.49 in overnight trading.


Energies: Nymex is working to defend its dominance in the US energy markets. The ICE will introduce US Gasoline and Heating Oil futures next week and Nymex is petitioning Washington to intervene.

Wednesday, April 12, 2006

It Was The Bears' Turn To Dictate The Day's Direction In Corn Futures

Bulls cornered: It was the bears' turn to dictate the day's direction in Corn futures, as word spread that a private consulting firm said that more acres will be dedicated to Corn planting than earlier thought. This sent longs running for cover and prices to their lows for the week. Favorable planting weather in the Midwest also weighed on prices. Spread trading remains active, as the "Goldman Roll" continues in Corn. Read More....

AUD/USD: Turning Around?

Compared with Monday, FX pairs were only slightly more active yesterday, but just by a hair. The key figure this morning is the U.S. trade deficit for February, which was down to $65.7 billion. The figure is comfortably below expectations of $68b, but uncomfortably high in absolute terms. The modest dip will do little to mollify U.S. criticisms of Chinese policy, ahead of the Premier's U.S. trip. Read More....

Might As Well Face It, We're Addicted To Oil

Crude realities: Might as well face it, we're addicted to oil. If Robert Palmer were still alive, he could have a remake hit for this summer. Crude Oil and Gasoline prices look to hit record high prices in the next few months, as speculators continue to bid-up prices of these essential liquids. Concerns remain over gasoline supplies this summer, as refineries gear-up to produce fuel using ethanol instead of the controversial MTBE, which now banned in 26 states. Read More....

FX Closing Comments

Today's better than expected trade data set the Dollar on a firm footing throughout the session, although the gains were small. The British Pound, however, remained more resilient than most, possibly in response the brisk personal earnings report, which was unveiled earlier in the day. Tomorrow will bring the U.S. weekly jobs report and the more significant retails sales report, which should essentially bring an end to this holiday-shortened week.

Join Us Today At 12:00 PM CDT For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

Markets To Watch Today

Gold: Gold prices reached 25 year highs on overnight trading posting a high of $603.70. Profit taking took over late in the session. Most active June Gold is trading at $601.20, down 2 dollar as of 8:32 am Central.


Crude Oil: Crude fell from post Hurricane Katrinia highs set in yesterday's session as traders offset long positions with little developing news from Iran and Nigeria. Concerns in both areas continue to give the contract support. May Crude is trading at $69.00, up 2 cents for the session.


Lended Metals: The LME has announced an effort to add steel to its trading platform. The exchange will track prices for the next year before trading begins in an effort to stabilize prices. Producers are opposing the effort.

Tuesday, April 11, 2006

Kansas City here we come!

That is the cry of speculators who continue to bid up prices for Hard Red Winter Wheat futures. New-crop July made fresh contract highs today, with weather forecasters continuing to call for above-normal temperatures in the southern plains Read More....

FX Closing Comments

FX pairs were slightly more active than Monday, but just by a hair. Minneapolis Fed president Gary Stern added his name to the list of Fed governors who retain a hawkish bias. He is, however, a non-voting member of the FOMC. There is a fair amount of data on the UK and European calendar tomorrow, along with U.S. trade figures, which may make for more active trade. Rates expectations and oil prices continue to weigh on the market, though many pairs remain stuck in recent ranges.

USD/JPY: Congested Thus Far

Without very much data, and even less exciting data, FX markets were especially slow yesterday. Today's key number is the influential German ZEW index of business confidence, which has been on a role in recent months. At 62.7, the figure, although rosy, is below expectation (66) and off from last month's 63.4. As of this writing, there has been little reaction to the influential survey. The next potentially significant release will be tomorrow's U.S. trade data, followed by Thursday's retails sales report. Read More....

Markets To Watch Today

Gold: The Gold rush continues as the precious metal enjoys an influx of funds from funds and individual investors who are finding it easier to enter the commodities market. June Gold is trading at 604.10, up 2.30 as of 8:49 am CST.


Crude Oil: Crude jumped to 8-month highs yesterday on increased global tensions. Nigerian rebels announced plans to mount another attack on local facilities. The introduction of an ETF based on Nymex Crude added momentum to the contract. May Crude is trading at 69.05, up 31 cents as of 9:02 am CST.


Metals: Don't forget about Silver and Copper. May Silver traded above $13 last night and is currently at $12.66, up 10 cents as of 9:05 am CST, while Copper continues to make new all time highs. May Copper is trading at $2.7260, up 1.70 cents.

Monday, April 10, 2006

Bulls Stampeded For The Exits Today In Orange Juice

Speculators sour on OJ futures: Bulls stampeded for the exits today in Orange Juice futures after the USDA raised FCOJ yields.The USDA lowered Florida's orange crop production by 1 million boxes to 153 million boxes in today's crop progress report. However, the report also increased yields to 1.61 gallons per box. This news was deemed bearish by most traders and analysts, and if true, would add up to 5 million gallons to existing supplies. Read More....

FX Closing Comments

Without very much data, and even less exciting data, FX markets were especially slow today. Tomorrow's key number will be the influential German ZEW index of business confidence, which has been on a role in recent months. Continued optimism in Germany may give the Euro support tomorrow, especially if it is followed by a poor U.S. trade figure latter in the week. Last month's ZEW was 63.4 -- analysts are expecting a 66 reading for April.

EUR/CAD: Stalling Near 100-Day?

Although this week looks like a fairly standard week, one never knows what surprises may be in store. With the major central bank meetings out of the way, the key figure this week is likely to be the U.S. trade deficit figures for February, which are due on Wednesday. The shortfall is estimated to be near $70b. The corresponding inflow data (TIC report) is expected next week on the 17th . The influential German ZEW index of business confidence is slated for release on Tuesday, and US. retail sales are on tap for Thursday. Read More....

Gold Futures Rocked To Their Highest Levels

Heavy Metal: Gold futures rocked to their highest levels since the 1980's. Concerns over the direction of the US Dollar and increasing tensions in the Middle East have traders and investors rushing to safe-haven investments. There were reports this weekend that the US was investigating military options, including possible nuclear strikes against Iranian underground nuclear sites. Also there seems to be no let-up in the violence in Iraq, with the country's Deputy Interior Minister Hussein Ali Kamal being quoted as saying that the country has been in an undeclared civil war for a year. Read More....

Markets To Watch Today

Metals: The metals are surging. Money continues to flow into the metals as Gold, Silver and Copper look to make new highs. June Gold is trading at 601.90, up 9.20 as of 9:05 am CST. May Silver is trading at 12.425, up 0.355 as of 9:05 am CST. May Copper is trading at 2.7080, up 0.0645 as of 9:06 am CST.

Crude Oil: Crude looks to test resistance as Sunday night trading sets the tone. April Crude is trading at 68.10, up 71 cents as of 9:09 am CST.

Dollar Index: The dollar is poised to maintain strength as continued interest rate increases and bullish market data for the week is anticipated. The Jume Dollar Index is trading at 89.25, down 6 as of 9:12 am CST

Friday, April 07, 2006

Sugar's Plunge Leave A Bitter Taste In Bulls Mouths

Sugar's plunge leave a bitter taste in bulls mouths. It was an ugly day for commodities in general, but especially Sugar, as speculative liquidation sends the market below 17 cents. Commodity funds were big sellers of the May/Jul spread, as they continue to roll their positions before the last trading day for the May contract ,on April 28th. Read More....

FX Closing Comments

After a tentative response to this morning non-farm payroll release, the Dollar picked-up from yesterday's gains, pushing the EUR/USD to 1.21. At 211,000, the lackluster figure was good enough for some analysts to surmise that the Fed might keep raising to 5.25%, instead of 5.00%. The feeling in now that the ECB will leave rates unchanged in May, which will prolong the Dollar's rate advantage for an extra couple of months. The re-energized Dollar also bumped the USD/JPY out of its recent wedge pattern. A full week awaits --look for this week's themes to remain: fluctuating rates expectations, outside political developments of all shapes and sizes (Scooter Libby, Iran and Iraq), and oil, which closed the week at $67.39 (CLK06).

Good Week For The Loonie

U.S. non-farm payroll figures were released this morning, showing a 211,000 gain for March, with an unemployment rate of 4.7%. Hourly earnings were slightly below expectations at .2% (February's figure was .3%). It would appear that Secretary Snow was correct -- it is a "good number", but in the scheme of things, nothing spectacular and safely within range. When one factors in the February revision (from 243k to 225k), the key monthly figure begins to look rather uninspiring. Read More....

Traders Yawn At Employment Figures

Traders yawn at employment figures: This may have been the most unexciting employment report in several months, as the Labor Department announced that US payrolls increased by 211,000 jobs in March. This was slightly above the average economists' estimates of between 195,000 and 200,000 jobs. However, February's figures were revised downward to 225,000 jobs from 243,000 announced last month. This made the data a wash, and gave traders little momentum to move the markets. Read More....

Markets To Watch Today

Gold: Gold is enjoying its biggest bull run since 2001. Hovering near the $600 mark, investors have been drawn to the yellow metal based on geopolitical and economic uncertainty. Increased access via newly created funds has also been a catalyst. April Gold is trading at $591.00, down $4.20 as of 8:26 am CST.


Silver: Gold is not the only metal enjoying increased interest and the benefits of ETF's. Silver is hovering above the $12 mark. May Silver is trading at $12 even, down 4 1/2 cents as of 8:34 am CST.


Energies: Nymex and the CME has officially signed a 10-year agreement which will move some Energy contracts to the Globex system. The move is set to include Crude Oil, Natural Gas, Gasoline and Heating Oil futures and options sometime before July.

Thursday, April 06, 2006

Contract Highs Squeeze Out Sellers in OJ

Contract highs squeeze out sellers in OJ: Orange Juice futures had something for everyone today, as the May contract posted new contract highs, but trade and speculative selling late in the session sent the market lower on the day. Buy stops were triggered early in the session, once the May contract broke past the previous contract highs at 151.50. Read More...

Previous Poll Results 4/06/2006

For a buyer of a call, where does the market have to be at expiration to break even not including commissions and fees?

A: Above the strike price plus premium recevied

B: At the strike price plus premium paid

C: At the strike price less premium paid

D: I should learn more about options because I don't know

The answer is B, The breakeven point for a long call is the strike price plus the premium paid.

Would you like to learn more about trading options? Click here

Test your skills by taking our options quiz. Click here

FX Closing Comments

The Dollar came crawling back today, largely in response to dovish commentary from the European Central Bank. Many traders were expecting some indication from the ECB president that rates would be rising in May, owing to money supply growth and improving data. When this did not happen, Dollar bulls took over and recouped a portion of its recent losses, most notably against the Euro. The big event tomorrow will be the U.S. non-farm payroll release,which is estimated to be 190,000. With Treasury Secretary Snow commenting that the figure will be a "good number," there is an added amount of mystery to this month's key release. It also seems likely that today's Dollar rebound may have stalled early, with traders leery about being caught long the greenback ahead of the NFP. A strong reading may provide the cover for an additional Dollar push.

Join Us Today At 1:00 PM CST For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

EUR/USD: Rate Volatility

Most FX pairs were subdued yesterday, although the EUR/USD saw some relatively brisk price action, with the Euro taking the upper hand. Although both Service Sector PMI and retail sales were disappointing in Europe, and the U.S. ISM service sector figure was firm (60.5), Dollar bulls continued to have trouble with waning sentiment. Read More....

Corn Futures Have Caught Fire Recently

Corn futures coming on strong: Corn futures have caught fire recently, as the USDA sharply cut back on the estimated acres that US farmers plan to dedicate for Corn production. Higher energy prices were the main reason for the shift in acres, as Corn production is a heavy user of Natural Gas based fertilizers. With the growing importance of ethanol in the US, Corn production needs to increase to meet the expanding demand for fuel. Read More....

Markets To Watch Today

Crude Oil: Crude Oil prices climbed above $67 a barrel and continued further on overnight trading, based mostly on higher Gasoline prices. A larger drain on inventories coupled with a slower return from scheduled maintenance for refineries pushed the energies higher. May Crude is trading at 67.80, up 0.73 for the ACCESS session.

Copper: Copper continues to soar at record price levels. The bull market was pushed higher by shortages in Europe and production disruptions in Mexico. May Copper is trading at $2.6235, up 2.75 cents as of 8:45.

Wheat: Wheat futures in Minneapolis made gains yesterday as floods in areas growing Spring Wheat are feared to limit crop production. May Minneapolis Wheat closed at $4.11 1/2, up 6 cents. May Kansas City Wheat closed at $4.22, up 7 3/4 cents. May Chicago Wheat closed at $3.47, up 4.25 cents.

Wednesday, April 05, 2006

Kansas City More Expensive Than Chicago?

Kansas City more expensive than Chicago? If you are talking about Wheat futures, you would be correct. The Kansas City/Chicago wheat spread closed at its highest levels since 2002, as traders fear production losses to the Hard Red Winter Wheat crop due to dry conditions in the southern plains. Warmer temperatures are expected in the Kansas, Oklahoma, and Texas Wheat belt, and many areas here missed out on the beneficial rains the past couple of weeks. Read More....

FX Closing Comments

Most FX pairs were subdued today, although the EUR/USD saw some relatively brisk price action, with the Euro taking the upper hand. Although both Service Sector PMI and retail sales were disappointing in Europe, and the U.S. ISM service sector figure was firm (60.5), Dollar bulls continued to have trouble with waning sentiment. Treasury Secretary Snow is also factoring into the chatter on two fronts today, as rumors of his resignation continue to circle at the same time he issued a statement implying that Friday's non-farm payroll number will be strong. An especially robust figure, say above 250,000, may go a long ways towards reversing the fortunes of this week's lagging Dollar.

EUR/JPY Reaches All-Time Highs!

The Dollar had a tough day yesterday, slipping against the other majors on portfolio shift worries. The theme of shifting central bank reserve levels seems to be re-emerging after having quieted over the past few months. Many analysts are quick to caution, however, that thus far, there is little sign of significant flows out of Dollars. Read More....

Euro Currency Futures Are Nearing Two-Month Highs

Eurocentric: Euro currency futures are nearing two-month highs, as talk of foreign central banks diversifying their US Dollar holdings into Euros is gaining steam. Just yesterday, the central bank governor of oil-rich Qatar announced that the bank can hold up to 40% of reserves in Euros. This comes on top of the announcement that the United Arab Emirates would be shifting 10% of its US Dollar-heavy reserves into Euros, as well. Read More....

Join Us Today At 12:00 PM CST For Our Platform Walkthrough

Though we expect you'll find our website to be refreshingly intuitive and user-friendly, you might still like to join us for a live, online system walk-through. This is a new service that we've decided to offer, and we think it'll be a great way for both new and existing clients to learn about everything our browser-based trading platform has to offer.These training sessions will be held twice weekly and take place online, in a virtual classroom. If you're interested in participating, you'll simply log into the training site at one of the designated times, and you can watch in real-time as a member of the XPRESSTRADE customer service team moves through the website, pointing out all the tools at your disposal. You can even listen to the instructor over your computer speakers.At the end of each online group training session, you’ll have the opportunity to post questions for the instructor. Not only will you receive direct answers to your questions, but you might very well find that answers to questions from your fellow traders will be helpful to you, too. We encourage you to give this new complimentary service a try!Every Wednesday at 12:00PM CST and Every Thursday at 1:00PM CST

Markets To Watch Today

Index: Increasing interest in Commodities has prompted Dow Jones to add 20 single commodity sub-indexes to its existing Commodity Index. A sub-index will be created for each of the 19 commodities which make up the DJ-AIG Commodity Index and Cocoa, which is not currently included, will also be added.

Crude Oil: Crude Oil fell yesterday on expectations of another increase in inventories to be reported this week. Gains in the Unleaded contract limited the losses in Crude. May Crude is trading at $66.31 in the ACCESS market.

Lean Hog: Lean Hog prices dropped to 6-month lows on expectations of lessened demand and adequate supplies. April Lean Hogs closed at 56.30, down 1.85 cents for the session.

Tuesday, April 04, 2006

Lean Hog Futures Fell To 6-Month Lows

The other bear market: Lean Hog futures fell to 6-month lows today, as weak cash Hog prices and follow-through selling from the Live Cattle pit caused prices to plunge. June Hog futures fell their 200-point limit mid-day, as massive sell-stops were triggered below the recent lows at 64.95. Bargain hunting by local traders near the close allowed prices to end just off the limit. Read More....

FX Closing Comments

The Dollar had a tough day today, slipping against the other majors on portfolio shift worries from the world's central banks. There are also interest rate concerns clouding the picture with consensus forming around 5% as the likely peak for U.S. rates. With little reason for optimism regarding the current account deficit and fiscal deficit, many Dollar bulls have become cautious about the prospect of losing the Fed's steady rate support. Outside geo-political issues are also negatively affecting Dollar sentiment. Tomorrow will be a quiet day on the U.S. calendar, though much data (notably euro-zone retail sales) will be released in Europe.

CBOT to re-open at 11:20 AM CDT

CBOT Halts Trading

Due to technical difficulties, trading was halted at 10:41 a.m. (CDT) for the Chicago Board of Trade on all Open Outcry products until further notice.

Join Us Today At 2:00PM CDT For Jim Wyckoff's Market Outlook Webinar

We're pleased to announce that the April 2006 futures market outlook webinar, hosted by XPRESSTRADE and Jim Wyckoff, has been scheduled. This will be a "live" webinar, and you can attend online, in a virtual conference room. There will be space for the first 250 traders, though you may not log-in more than 30 minutes prior to the scheduled start time.

Date / Time: Tuesday, April 4th, 2006, at 2:00 PM CST (GMT -0800 PM). The presentation is expected to last approximately 45 minutes, followed by a 15-minute Q&A session. Here's your opportunity to run questions by one of the most knowledgeable futures market analyst and educator! If you can't attend the live webinar, don't worry -- an archived recording of the webinar on our website.

How to Attend: Simply click the link below between 1:30pm CST and 2:00pm CST, and you'll be taken to our online conference room. Make sure that your computer speakers are turned on, and sit back and enjoy the presentation. There's no software required, nor will you need a user ID or password.

Webinar Objective: The goal is to keep you apprised of interesting trading opportunities in the futures and forex markets. Jim will describe how to identify potential market set-ups, how to pick entry and exit points, how to manage risk, and how to avoid common mistakes.

Link To Webinar: http://relay10.im-live.com/im-live/webxpress.htm?-rm=WebinarXpress

See ya at 2:00PM!

Cocoa Futures Leave Bulls A Bitter Taste In Their Accounts

Cocoa futures leave bulls a bitter taste in their accounts. Cocoa futures have been caught in a three-year downtrend that started at the highs from January 2003 while other commodities have been soaring to multi-year highs (Sugar and Orange Juice, for example). Cocoa cannot move higher. Read More....

EUR/USD: The Calm Before The Storm

The Dollar took a hit yesterday, after a strong series of PMI indexes were released in Europe, which were matched by a weak Institute of Supply Management survey in the U.S. Soft domestic vehicle sales were also unhelpful to the greenback. Read More....

Markets To Watch Today

Gold: It was a golden day for the metals markets, as Japanese investors and commodity funds went on a buying spree to start the 2nd quarter. June Gold futures ended up $7.60, to close at $594.30 oz.

Copper: Not to be outdone by its classier cousin, hard working Copper futures posted new all-time highs yesterday. Speculative buying and supply concerns, especially from a labor dispute at the Grupo Mexico SA’s LA Caridad mine, were behind the buying frenzy. May Copper rose 8.45 cents to close at $2.5475 lb.

Crude Oil: $68 was not meant to be for Oil bulls, as profit taking overwhelmed an earlier rally on concerns of dwindling US Gasoline supplies and a potentially active hurricane season. May Crude Oil closed at $66.74, up 11 cents.

Monday, April 03, 2006

Copper Keeps Climbing

Copper keeps climbing: Copper traders will remember the 2005-2006 bull market with awe, as the market continues to make new all-time highs. Supply concerns, increasing world demand, and solid speculative interest in the entire metals complex are all reasons behind this historic move. A forecast by Macquarie Bank calls for a shortfall of refined Copper of 50,000 metric tons in 2006. Read More....

FX Closing Comments

The Dollar took a hit today after strong PMI indexes in Europe this morning were matched by a weak ISM in the U.S. This state of events prompted a spat of short-covering, which triggered buy orders above 1.2080 and 1.2115 with EUR/USD reaching 1.2150 before slowing down. The firm PMI data today increases the likelihood that the ECB will raise in May, if not on Thursday. Look for euro-zone unemployment figures tomorrow.

EUR CAD: Double Top?

As FX pairs head into another week, month, and quarter, there are a number of events on the calendar. The Bank of England will be meeting on Thursday, although rates are not expected to move from the current 4.50%. Also on Thursday, the ECB will be meeting, and many analysts believe that another .25% rise could be in the cards in response to expanding money supply, which has been backed by increasingly hawkish commentary. Read More....

Bears In Control Of The Bean Market

Bears in control of the Bean market: The USDA announced on Friday that estimated Soybean planting in the US should total 76.89 million acres. If true, this would be a new record high, and well above last year's 72.1 million acres planted. This comes on top of a potentially large South American crop and a record 1.669 bullion bushels currently in storage. Read More....

Markets To Watch Today

Gold: Gold after hitting a 25-year high last week continues to rise in this morning's session. Inflation fears seem to be the catalyst in this market. April Gold is trading at 588.50, up 6.70 as of 8:40 am CST.

Copper: It's not just Gold and Silver making new highs, Copper is trading at all-time highs above the $2.50 mark. May Copper is trading at 2.5300, up 6.7 cents as of 8:44 am.

Interest Rates: As the metals rally, Treasuries seem to taking a hit as the yield on the 10-year notes hits its highest point since the Fed starting its run of 14 straight interest rate increases. The June 10 Year Note is trading at 106-025, down 0-10 as of 8:49 am CST.