Gold Futures Continue To Struggle

Gold futures continue to struggle: After trading over $700 just two-weeks ago, Gold futures have been struck by a wave of speculative selling. Lower oil futures and a stronger US Dollar were among the reasons traders gave for today's declines. Also supporting the bearish position was a report that U.S. may be ready to enter talks with Iran regarding its nuclear policy. Read More...

FX Closing Comments

More ambiguity by the Federal Reserve minutes from a closed May 10th session left the Dollar in another stagnant range trade situation today. A much stronger than expected Midwest PMI number failed to support the dollar and traders are still left in a quandary regarding the Fed’s next move on interest rates during their next meeting. "Given the risks to growth and inflation, committee members were uncertain about how much, if any, further tightening would be needed" after the May increase, the minutes said. Another key quote from that meeting was Chairman Ben Bernanke and his Fed colleagues deciding to leave the door open to additional rate increases "in view of the risk that the outlook for inflation could worsen." EUR/USD trades 1.2820

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

Consolidation Hits O.J. Futures

Consolidation hits O.J. futures: Bulls and Bears are fighting for control of the Orange Juice futures market. Prices are beginning to consolidate, as conflicting fundamentals have traders wondering in which direction the next move will be. The most recent bullish news came from a report from an analyst at Citigroup Global Markets, which said that this year's Florida Orange crop would come in 5 to 10 million boxes below the most recent USDA estimate, which currently stands at 153 million 90-lb boxes. Read More....

Markets To Watch Today

Natural Gas: Natural Gas closed lower yesterday, as a rally early in the session lost steam. Coming off a 15-month low hit prior to the Memorial Day holiday, some bargain hunters discounted the storage numbersm, which are currently 50% above the 5-year average. July Natural Gas is trading at 6.090, down 3.3 cents this morning.


Crude Oil: Crude Oil hopped above $72 a barrel yesterday, as Chinese demand for the fuel is expected to increase. Iran's nuclear ambitions continue to influence the market. July Crude is trading at 71.40, down 63 cents this morning.


Silver: Silver soared yesterday early in the session, as a sharp decline in the Dollar supported the metal. Profit- taking late in the session prevented the market from closing at session highs. July Silver is trading at 12.950, down 12 cents this morning.

Bullish Beef!

Live Cattle futures posted 11-week highs today, as supportive cash market quotes and options related buying greeted traders after the long Memorial Day holiday weekend. Small speculators are hold a large short position, according to the most recent Commitment of Traders report and many protective buy-stops were triggered on today's rally, especially after August moved above the 80 cent level. Read More....

FX Closing Comments

Today was another slow day with the exception of a sharp dip for the U.S. Dollar on the news of John Snow's resignation as Treasury Secretary. The Euro spiked to 1.2910 briefly this morning and has been relatively steady, hovering at 1.2880, even though the news of Snow's departure has been expected for over a year. The pair is consolidating just above the 1.2860 support level.

This Week's Key Data Release

This week's key data release is the jobs report, due on Friday. But traders also will get another read on consumer confidence, as well as reports on regional and national business activity and government data on factory orders and durable goods in the holiday-shortened week. Read More....

Hog Rally Near An End?

Hog rally near an end? Lean Hog futures have staged a nice six-week rally, after being mired in a year long slump. Cash prices have started to pick-up, with pork cut-out prices firming and packer profit margins improving. However, there is a dark cloud on the price horizon. Read More....

Markets To Watch Today

Silver jumped up this morning, as a weakened Dollar and higher Gold prices give bulls confidence to enter the market. The Comex Exchange was closed Monday for Memorial Day. July Silver is trading at 12.960, up 23 cents this morning.

Crude is trading higher on the overnight market, as tensions in the Middle East increase. While refinery production and Gasoline stocks increased last week, Crude stocks were lower as we begin the summer driving season. July Crude is trading at $72.49, up $1.42 this morning.

Copper is down this morning, more due to thin trading conditions than any fundamental factors. Increased margins over the past month have shaken - out some of the participants in this market. Light trading is expected to remain, coming off a long weekend and approaching month's end. July Copper is trading at $3.7805, down 3.45 cents this morning.

No Stopping Copper

No stopping Copper: What started out as a quiet day in Copper futures turned into an impressive rally by the close. Many traders expected some profit-taking today ahead of the long holiday weekend in the US and UK, but a rally in Gold late in the morning, tied to word that gunfire was heard in an office building outside of the US Capitol, spilled over to Copper and prices did not look back. The rally occurred on light volume as many market participants got a jump on the long weekend. Read More...

FX Closing Comments

There was a modest move in the EUR/USD favoring the Euro after the University of Michigan reports U.S. consumer sentiment fell to 79.1 from April's 89.4 reading. The survey's index of current conditions fell to 96.1 in May from 109.2 in April, while consumer expectations fell to 68.2 from 73.4 in April. The Inflation expectation median rose to 4% in May from 3.3% in April. The University of Michigan's median five-year U.S. inflation expectation was 3.2 percent in May. Consumer spending accounts for about two-thirds of all U.S. economic activity, but in recent years confidence measures have been a weak guide to actual spending plans. All in all, today has been an uneventful, pre-holiday, range-bound market.

The US Economy Is Looking Up

The US economy is looking up, dashing ahead in the opening quarter of this year at a 5.3 percent pace, the fastest in 2 1/2 years, and even stronger than previously thought. Gross domestic product, a measure of the value of all goods and services produced within the United States and considered the best barometer of the country's economic fitness, exceeded the 4.8 percent annual rate initially estimated a month ago, according to the Commerce Department. Economists, however, were predicting an even bigger upgrade to the first-quarter reading. Read More....

Markets To Watch Today

Coffee futures fell to the lowest point since the end of last year, as funds sold on the news that the 2006-07 harvest has begun. Brazil, the top coffee producing country, has picked 10% of the new crop, which is expected to bring new beans to the market as early and June. July Coffee closed at 98.65 cents, down 1.15 cents for the session.


Orange Juice prices climbed yesterday, on the strength of significant outside markets. Rumors that government estimates are very optimistic and the Florida crop will be much less than expected gave OJ bulls upward momentum. July Orange Juice closed at $1.5975, up 6.85 cents for the session.


Crude Oil continues to hover around the $71 dollar mark, as we enter the summer driving season. Increased volatility and bullish technicals helped support news of possible hiccups in refinery production, which push Gasoline and the entire energy complex higher. July Crude is trading at $71.00, down 32 cents in the overnight market.

Lumber Futures Caught In Downward Spiral

Lumber futures caught in downward spiral: Higher interest rates in the US have finally started to cool the red-hot housing market. This was bad news for Lumber bulls, as prices have been mired in a 3-week long sell-off. Lead month July Lumber hit its lowest level of the year yesterday, despite a report from the US Commerce Department that new home sales in April were higher. Read More....

Orange you glad you are long FCOJ futures!

Sorry for the pun, but Juice bulls are flexing their muscles as July Orange Juice trades above the psychologically important $1.60 area. O.J. futures have been resilient as of late, posting gains on days where almost the entire commodity complex was trading lower. Read More....

Have Cotton Prices Bottomed?

Have Cotton prices bottomed? Cotton futures have been mired in a bear market for most of 2006 despite signs that production is decreasing and exports improving. The USDA reported in this month's crop production report that US Cotton production should total 20.7 million bales, down just over 3 million bales from last years crop. Read More....

Join Us Today at 1:00PM CDT For A Platform Walk Through

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 Volatile and Sideways

Volatility continues to be felt across asset classes, as the "flight to quality" theme grips markets. Thus far, this safety theme appears to be a neutral to the Dollar, which is trading sideways to many other pairs in recent sessions. Yesterday saw the Dollar selling-off after the soft durable goods report, before bouncing back after the strong new home sales data. Read More....

Markets To Watch Today!

Crude Oil: Crude Oil continues to hover around the $70 mark, falling below that level during yesterday's pit session and climbing back above in the overnight session. Yesterday's sell-off was propelled by record inventories in petroleum-product stocks. US Gasoline stocks jumped by 2.1 million barrels to 208.5 million barrels, according to the Energy Department's weekly report. The report also revealed a decrease in demand and increased production. July Crude is trading at $70.22, up 36 cents in the overnight market.

Gold: Gold Prices tanked yesterday, as a strengthening US Dollar and losses in the commodity markets, in general, gave bears control of the market. It's been a roller coaster in most all the New York markets, as we see the metals making early gains this morning. August Gold is trading at $651.00, up $6.90.

Copper: Copper fell yesterday, erasing most of Tuesday's gains. Strong new US home sales data helped to cushion the fall, and the market looks to be rebounding this morning. July Copper is trading at $3.65, up 1.1 cents.

Are Gold futures losing there luster?

The entire precious metals complex was under attack by metal bears today, but none were hit as hard as Gold. Lead month June Gold posted its largest one-day decline of the year today. Read More....

FX Closing Comments

The Dollar showed some signs of life today after existing home sales were reported firm for May. After an especially soft durable good report, the home sales figure encouraged the bulls and the Dollar Index rose 64 ticks on the day while the cash market saw Dollar gains against the other majors. The next hurdle for the Dollar will be tomorrow's existing home sales and the preliminary Q1 GDP figures. If these reports come in strong, the greenback may start to turn the tide and improve sentiment.

USD/JPY: Still Technically Bearish

Yesterday's volatility in equity and commodity markets did not spread to the FX sector in a day that was devoid of any additional data. The lack of data left traders mulling over Fed Chairman Bernanke's admission that last month's comments to a reporter at a White House function about not being dovish constituted a "lapse of judgment of my part." Fed watchers have noted a more strident and "hawkish" tone to comments in recent weeks, as analysts mull over the likelihood of a June "pause." Read More....

Volatile Days Ahead For Gasoline Futures

Volatile days ahead for Gasoline futures: Gasoline futures continue their roller coaster ride this month, as conflicting fundamentals pull the market in each direction. Bulls will argue that high energy prices are here to stay, with high world demand and political tensions in the Middle East allowing a "premium" to be placed on Gasoline prices. Read More....

Markets To Watch Today!

Copper: Copper soared yesterday, forcing the daily limits to be expanded twice. The gain was the most for a single session ever in this market, jumping over 13% on the day. The move came in spite of a report released by the International Copper Study Group showing the global refined copper market is expected to show a "modest surplus" for the coming year. June Copper is trading at 3.7100, down 26.05 cents this morning.

Gold: Gold followed Copper's lead yesterday, just to a lesser extent. The recent dip in prices has attracted physical buying, with bargain hunters pushing the contract higher, although Gold has fallen back this morning. June Gold is trading at 651.50, down 22.20 this morning.

Crude Oil: Crude Oil prices climbed nearly $2 yesterday on the back of renewed fund interest. A report released by the US government called for above normal hurricane activity this coming storm season, forcing shorts to cover. Some profit-taking, and the drop in metals have the fuel trading lower on the overnight session, as traders await the release of the Energy Stocks report. July Crude Oil is trading at $70.78, down 98 cents this morning.

FX Closing Comments

FX trade was uneventful today and the Dollar index closed unchanged. Major pairs were also flat on the day. The major number tomorrow is the German IFO index, which many are anticipating to fall, on the back of drops in the Belgian business sentiment and the French Insee. A soft Ifo tomorrow, might hinder any run-up in Euro pairs. Also of note were relatively hawkish comments by Fed chairman Bernanke. Given the relatively strong position of the Euro, many are now discounting the likelihood of a .50 rise in rates next month.

Will Coffee Futures Perk Up?

Will Coffee futures perk up? Commodities have been the big story in the first part of 2006, with bull markets in energies, metals, and wheat taking the spotlight. One market that looked promising to commodity bulls, but has been a major disappointment, is Coffee. July Coffee made 5-month lows yesterday, closing below the psychologically important $1 level for the first time since December. Read More....

Swiss Franc Benefiting From Yesterday's Safe-Haven Status

The Euro and Franc had good days yesterday, as emerging market equities experienced a sell-off, which had investors searching the globe for safe havens. It is somewhat interesting that this "safe haven" buying did not help the U.S. Dollar, which fell against most of the majors. Read More....

Markets To Watch Today

Natural Gas: Natural Gas prices closed higher yesterday, on news of a federal forecast calling for an active storm season. With the start of the official storm season just over a week away and damage from last year's Hurricanes fresh in traders' minds, the announcement made a significant impact on a previously down-trending market. June Natural Gas is trading at $6.385, up 10.9 cents on the overnight session.

Metals: Gold fell early yesterday and later rebounded to close nearly unchanged for the day. An ETF tracking several gold-mining companies began trading today, giving the contract some support. June Gold is trading at 662.00, up $4.30 this morning.

Crude Oil: Crude Oil followed a similar pattern to Gold yesterday, dropping in the overnight and early day session, only to bounce back, as traders covered short positions prior to the expiration of the June contract. July Crude Oil is trading at $70.76, up 80 cents on the overnight.

Poor yields send Wheat higher!

Wheat futures were sharply higher across the board, with Chicago Wheat hitting a new contract high and Kansas City Wheat hitting 10 year highs, as hot dry weather hits the Great Plains. Weather forecasters are calling for highs in the upper 80's to low 90's this week in Nebraska, Kansas, and Oklahoma. Read More....

FX Closing Comments

The Dollar had another down day, which saw a movement out of emerging markets and into other major currencies. On the face of it, this adds to the sour sentiment surrounding the greenback. Technical orientated trade seemed to dominant the later part of the U.S. session. The U.S. calendar remains thin, however, tomorrow's European calendar has UK GDP figures for the 1st quarter, the French Insee survey, and euro-zone industrial production.

Markets To Watch Today

Dollar: The Dollar fell this morning against the Euro and other majors amid speculation that US interest-rate hikes may be coming to an end. The Federal Reserve has raised interest rates 16 straight times, to its current rate of 5%. The June Dollar Index is currently trading at 84.46, down .27 this morning.

Indices: The major Indices are seeing declines this morning, as falling commodities prices seem to be pulling stocks lower. The recent decline in the equities marts is being fueled by sell-offs in the Metals and Energies. The June S&P is trading at 1260.50, down 10.80 this morning. The June Gold is trading at 654.00, down 3.50 this morning. The July Crude Oil is trading at 68.90, down 3.90 this morning.

New Zealand/USD:Still Technically Bearish

The Dollar began the week on firm footing overnight, though gains were relatively small. Most analysts expect continued volatility in the coming weeks, as analysts try to gauge inflation and predict the next Fed move. The past few weeks have seen very volatile trade across asset classes, from U.S. equities, emerging markets, commodities, and currencies. Naturally, this type of playing field makes it difficult to predict with confidence any strong trends, although savvy traders remain, as always, on the look for breakouts. Read More....

A Potentially Volatile Week Ahead

A potentially volatile week ahead for global Stock Index futures: Stock markets across the globe look to be in for a wild week, as a severe sell-off in India's two major stock markets, the Bombay Stock Exchange Ltd. and National Stock Exchange, sent traders into flight to quality mode. Both exchanges halted trading for an hour this morning, as shares plunged over 10 percent at its worst levels. Only buying by state-run mutual funds and financial institutions, to help calm the panic, allowed share prices to be down just over 4 percent at the close. Read More....

Copper Prices Crumble

Copper prices crumble: It was an ugly day for Copper bulls as speculators continue to leave the Copper market. Since hitting its all-time high at 407.00 on May 11th, Copper prices have fallen over 50 cents a pound. A report from International Copper Study Group cited, a global surplus in Copper for January and February. The recent rally in the US Dollar also was noted as a key factor in the recent price decline. The LME has raised sharply the margin requirements for several of its base metals contracts including Copper to help combat the extreme volatility in the metals markets. Traders reported good selling pressure throughout the day, with most of it being long liquidations. Read More...

USD/CHF: Pulling Back From Lows

The Dollar started the U.S. session in a rallying mood, though trade is likely to be choppy in the absence of any data. In terms of yesterday's data, it was mixed, with the Philly Fed survey up to 14.4 and the ISM leading indicators were reported softer than expected. Weekly jobless claims spiked higher to 361k. Read More....

Wheat Futures Are Making Contract Highs

Soybeans missing the "bull" move in grains: Wheat futures are making contract highs. Increased Ethanol demand is keeping Corn prices well supported. Soybeans, however, are missing the party. US growers are expected to increase the acres dedicated to Soybean planting this year, as the high cost of fuel has curtailed Corn production. These acres that would have gone towards Corn are being switched to Soybeans. Read More....

Markets To Watch Today

Natural Gas: Natural Gas fell to a 15 month low yesterday, as record inventories pushed the contract below $6 for the first time since February of last year. Storage volumes as of last week totaled over 2 Trillion cubic feet. The June Natural Gas contract is trading at $5.880, down 11.7 cents this morning.


Silver: Silver fell victim to profit taking yesterday as market participants were scarce. Low volume contributed to a drop of 72 cents. The July Silver contract is trading at $12.150, down 38 cents for the session.

Bulls Start To Sour On Sugar

Bulls start to sour on Sugar: July Sugar hit 2-month lows this morning, as commodity funds and speculators continue to liquidate their long positions. The decline started right from the opening, as locals and producers were selling and only trade house buying prevented further losses early in the session. Speculative sell-stops were triggered, once July fell below 16.60 and trade buying dried up. Commodity funds then started their liquidation, and prices closed near the lows of the day. Read More....

FX Closing Comments

The Dollar stayed under pressure today in choppy trade. The data, however, was mixed with the Philly Fed survey up to 14.4, while the ISM Leading indicators report was softer than expected. Jobless claims spiked higher to 361k. All old the Dollar index was down 30 points on the day. There is no additional U.S. data on the calendar for the week, though a number of European reports remain. There seems to be a high degree of uncertainty and volatility in FX markets, which may continue through the month until the Fed next meets.

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

GBP/USD: A Weekly View

The Dollar continues to be volatile this week, as trader expectations react to market developments. Yesterday's rise in core consumer inflation sent the Dollar higher yesterday with many analysts finding it hard to believe that the Fed would be able to pause in light of two consecutive jumps in the core number. This calculation was helpful to yield-hungry Dollar investors, though quite painful to equity investors. Also helpful was some jawboning from senior European government officials, who expressed concern about the Euro's recent gains. Read More....

Markets To Watch Today

Crude Oil: Crude Oil fell below $69 a barrel yesterday and remains there this morning. Many credit funds limiting exposure as inflationary fears may result in the Fed continuing to raise interest rates. June Crude is trading at $68.80, up 11 cents this morning.

Grains: Wheat set new contract highs yesterday, reaching $5 per bushel for the first time since '97. Forecasts for dry, hot weather during crop yield in growing areas for the next 7 days had speculators adding to current long positions. July Chicago Wheat is trading at 422.00, down 1 this morning. July Kansas City Wheat is trading at 508.50, up 2.00 this morning.

Copper: Copper futures fell yesterday as funds pulled some money off the table on a weaker US Dollar. The July contract gave up over 17 cents yesterday. July Copper is trading at 3.6900, up 1.85 cents this morning.

Inflation Fears Drive Stocks Lower

Inflation fears drive stocks lower: You do not have to be an economist to realize that consumer prices are rising. Just go to the gas station or the grocery store to find this out. Apparently, the stock market needed further confirmation and got it when the Labor Department reported that consumer prices in April rose 0.6% compared to 0.4% in March. Energy prices were the leading cause for the increase, with gasoline prices jumping 8.8%. Read More....

Wheat Flys To New Highs

Wheat flys to new highs: The weatherman has not been kind to US Wheat farmers this year, with drought conditions in the winter and spring severely cutting potential yields. Now calls for well-above normal temperatures in the Great Plains has traders fearing further losses to the crop. It didn't take long for Wheat bulls to flex their muscles, and prices soared right from the opening. Read More....

FX Closing Comments

The climbed today on the back of some jawboning from European politicians, who were becoming concerned about the rising Euro's effect on growth in the region. The rise in consumer inflation also had traders anticipating additional rate support from the fed. The result was Dollar gains across the board, although the trend ran out of gas towards the end the day, as the fall in equity prices warranted a 2nd look at the greenback.

EUR/USD: Springtime For The Euro

The Dollar reverted back to the loss category yesterday, after beginning the week showing some signs of a comeback. Yesterday's producer inflation numbers were generally seen as uneventful and "interest rate neutral" in terms of their likely impact on Fed thinking. The soft housing numbers, however, lent strong support to the "pause" argument, with many analysts fearful that rising rates could put additional pressure on consumer spending, and in turn contribute to the vital housing sectors cooling-off. 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 has bounced around to start the week. The contract's volatility has prompted the exchange to raise margins multiple times over the past month. After reaching a low of $3.4640 on Monday, down 14% from Thursday's high of 4.0400, the contract closed higher in yesterday's session. June Copper is trading at 3.8170, down a dime this morning.


Gold: Gold prices rebounded from the losses suffered on Monday to close higher in yesterday's session The gains were supported by a weaker US Dollar and renewed speculator interest. June Gold is trading at $703.50, up $10.90 this morning.


Crude Oil: Crude Oil closed slightly higher, failing to close above that psychologically important $70 mark. Volume is light this morning, as traders await the release of the Energy Stocks report to be released at 9:30 am Central. June Crude is trading at $69.35, down 18 cents this morning.


Natural Gas: Natural Gas recovered from the contract's 1 year low hit on Monday. The contract has dropped over 10% since Friday on forecasts of mild weather and plentiful supplies. Traders await storage numbers to be released tomorrow morning. June Natural Gas is trading at $6.300, up 5.8 cents this morning.

Pork Belly Futures Posted Sharp Gains

Pork Belly rally: Pork belly futures posted sharp gains, as higher cash prices filtered down to the futures pits. Traders noted most of the buying was attributed to short-covering as speculative buy stops were hit once the July contract jumped past the 20-day moving average at 83.15. Trading was active ahead of the CME's weekly belly storage number, which showed that 906,000 pounds were moved out of exchange-approved warehouses last week, well above the 500,000 pounds most traders were expecting. Last year at this time 757,000 pounds were stored. Recent strength in Lean Hog futures also contributed to yesterday's price surge. Read More....

Speculative Funds Jump Back Into Juice

Speculative funds jump back into Juice: Today, Orange Juice futures have gained back all of the losses incurred due to Friday's commodity-wide long liquidation today, as supportive fundamentals continue to underpin prices. Prices started out the day lower, as Juice bears attempted to take-out support at 157.00 in the July contract. However, their attempt failed, with speculative and trade buyers emerging near the day's lows. Stronger metal and energy prices spilled over to Orange Juice, with commodity funds bidding-up the market near the close. Read More....

FX Closing Comments

The Dollar slipped back against the other majors today in a relatively calm session. In most pairs the Dollar did not challenge its "pre-correction" lows, however, there remains a great deal of uncertainty surrounding the greenback. Today's PPI data is likely to be a neutral in terms of June's Fed decision, though core inflation appears contained and housing increasingly looks like it is slowing. Tomorrow will bring us CPI data.

USD/JPY: Consolidating Near 110?

The trading week began in an erratic mood, with commodities and emerging market shares falling, and the Dollar taking-back some recent losses. Some market watchers saw yesterday's volatile moves as a sign of global risk aversion that has investors fleeing to safer investment vehicles, namely European bonds and the Dollar. A less grand interpretation might view Monday's trading as a natural cooling-off in the red hot metals markets combined with some run-of-the-mill profit-taking for those who have been short the Dollar in recent days. Thus far on Tuesday, matters seem to have quieted substantially in spite of a sizeable amount of new data. Read More....

Copper Rally Takes A Breather

Copper rally takes a breather: We all knew that Copper prices could not go straight up without some type of correction and correct it did on Monday. Copper prices had their largest sell-off in over a year, with prices falling over 8%, at its worst levels on the LME. The selling spilled over to New York with the most active July contract trading as low as 360.00 before buyers were found. In an uncharacteristic move, the Chariman of the London Metal Exchange, Donald Brydon, told the Financial Times on Friday, that a bubble was forming in commodity markets, and investors should be cautious investing in commodity markets as they make new highs. Read More....

Markets To Watch Today

Crude Oil: Crude Oil prices fell below the $70 mark yesterday as China announced it will allow its currency to appreciate. By setting a key trading benchmark for the yuan below 8 to the US Dollar will allow the currency to appreciate. June Crude is trading below 69.80, down 39 cents this morning.


Metals: The metals were hit hard by the news out of China and the subsequent sell-off in the energy complex. A strengthening Dollar helped push the markets lower as well. The markets are seeing some support this morning. June Gold is trading at 692.50, up $7.50 this morning. July Silver is trading at 13.440, up 11.5 cents this morning. June Copper is trading at 3.8300, up 1.35 cents this morning.

Futures Closing Bell 05/15/2006

Palladium plummets: It was a dark day for metal bulls today, as a commodity wide sell-off struck the metals complex hard. Among the most affected was the Palladium market. Lead-month June Palladium fell nearly 10% at it's worst levels, on massive profit-taking selling. Read More....

FX Closing Comments

The Dollar staged a bit of a comeback early in the session. The daily reversal came before the slightly soft TIC report, though the Treasury's inflow data did not seem to affect the Dollar's early gains. Most analyts, however, see little reason for Dollar optimism and see today's move as simple profit-taking. A lot of data lies ahead, including tomorrow's German ZEW index, whose headline number is expected at 60. Housing data is also on tap.

GBP/USD: Resistance @ 1.90

As trading gets underway in the U.S., the big question remains. What is the story with the Dollar? Is the month-long slide evidence of healthy market forces responding to an unhealthy trade deficit, resolving the oft-mentioned "global imbalance" issue in logical fashion? Or alternatively, is the Dollar's fall an overreaction by fearful investors; spooked by talk of bursting bubbles, who do not recognize that continued rate support is likely forthcoming in response to bustling "real" economy? Read More....

GBP/USD: Resistance @ 1.90

As trading gets underway in the U.S., the big question remains. What is the story with the Dollar? Is the month-long slide evidence of healthy market forces responding to an unhealthy trade deficit, resolving the oft-mentioned "global imbalance" issue in logical fashion? Or alternatively, is the Dollar's fall an overreaction by fearful investors; spooked by talk of bursting bubbles, who do not recognize that continued rate support is likely forthcoming in response to bustling "real" economy? Read More....

Markets To Watch Today

Gold:Gold is leading the way as the New York markets plummet. A sell-off occurred in the energies on the overnight market and the metals followed suit. Speculation that rally may have been exaggerated and a correction was in order came to fruition. Sell stops were triggered at the open forcing the contract lower. Bargain hunters may be lurking to add some support. June Gold is trading at $687.50, down $24.80 this morning.


Crude Oil: Many funds starting taking money off the table as Crude Oil fell over 2 dollars in overnight trading. The contract broke below the psychologically import $70 barrier, but looks to be rebounding in the pit session. June Crude is trading at $70.25, down $1.79 this morning.


Grains: The sell-off is not limited to the NY markets after all, as the Grains opened lower in fast market conditions. Front month July Soybeans is trading at 603.00, down 10.00 this morning.

Correction!

Correction! It was a rough start to the week for energy bulls as Crude Oil prices fell over $2 in overnight trading. The catalyst was comments from Saudi Arabian Oil Minister Ali al-Naimi, speaking to reporters at an energy conference in Amman,Jordan. Mr. Naimi was quoted saying "There is no lack of capacity right now. Supply is ahead of demand." This was all it took to get commodity funds to start liquidating some of the large long positions they were holding. Read More....

Traders Shocked By Corn Stocks Estimates

Traders shocked by Corn stocks estimates: Corn futures rose to their highest levels since August, on a "shockingly low" 2006-07 USDA Corn ending stocks estimate of 1.141 billion bushels. The trade was looking for a figure closer to 1.6 billion bushels. This estimate is almost 50% less than the 2005-06 carryout totals. Increased production of Ethanol, and lower planted acres were the reasons behind the bullish figure. Read More....

FX Closing Comments

The Dollar had another poor day today, as recent trends continued. The better, though still very concerting, trade deficit number was no help to the greenback as it slide further against other majors. Yesterday's poor retail sales figures were also unhelpful. Monday will bring the market the Treasury's report on capital inflows, which looks to be the big number of the week.

EUR/USD: The History

Yesterday was another rough one for the Dollar. Overnight, matters were little changed. This morning's slightly better trade deficit number has, thus far, done little to reverse the Dollar's lagging fortunes. The figure was reported a -$62 billion for March, which was nicely lower than expectations of -$68b, but it seems that the overall largeness of the figure remains at the root of the Dollar's woes. The corresponding capital inflow data is due on Monday. May consumer confidence also came in this morning at 79, which is much lower than the expected 86. Read More....

Tight Ending Stocks Should Send Wheat Higher

Tight ending stocks should send Wheat higher: Wheat bulls received some positive news from the USDA this morning, with US Wheat ending stocks estimated to be 447 million bushels for the 2006-07 crop year. The estimate was below average analysts' predictions of 465 million bushels. If true, this would be 18% lower than the previous year's total. Lower Wheat production is the reason for the decline, with expectations of the 2006-07 crop to total 1.873 billion bushels-well below last year's 2.105 billion production. Read More....

Markets To Watch Today

Copper: Copper futures soared in yesterday's session, and as the 20 cent limit was met, trading halted for 15 minutes, and the limit was then raised to 40 cents. The contract flirted with the new limit, with the May contract reaching a high of 4.16. Tightening short-term supplies and massive fund interest fueled the rally. June Copper is trading at 3.93, down 5.30 cents this morning.

Crude Oil: Crude Oil topped the $73 mark yesterday, as world tensions escalate. Two Nigerian oil workers were kidnapped yesterday, as production in the region continues to be under attack. June Crude is trading at 72.88, down 44 cents in overnight trading.

Energies: Nymex revealed plans to open offices in Singapore next week. In an effort to capitalize on the increasing world interest in commodity trading, especially the energies. Singapore is the world's third largest oil-trading center, after New York and London.

Not Every Commodity Is In A Bull Market

Coffee grinds to 5-month lows: Not every commodity is in a bull market, with Coffee being a perfect example. July Coffee hit 5-month lows today, as speculators began throwing in the towel on their long positions. Sell-stops were hit, once July fell below the recent lows at 106.25. Scale-down buying by roasters was noted near the lows of the day. Read More....

FX Closing Comments

Today was another rough one for the Dollar. The poor sentiment and negatively trending Dollar pairs were not helped by today's slightly soft retail sales numbers, which were released a day before the more important trade numbers that are expected tomorrow morning. It would seem that even strongly bullish Dollar traders were leery to be caught long the Dollar before tomorrow's important trade release. This is especially true, given the current trends. The trade data is due 1st thing tomorrow and expected near -$68b for March. A number significantly worse could add fuel to the fire. The follow-up treasury inflow data is due next week.

Platinum Closing In On $1300!

Platinum closing in on $1300! With all the media hype about how high Gold and Silver prices are going based on a speculative frenzy for commodities, another member of the precious metals family is quietly making new all-time highs, Platinum. Platinum futures are traded on the New York Mercantile Exchange(NYMEX) and the Tokyo Commodity Exchange (TOCOM) but trading volume is only a fraction of its cheaper cousins Gold and Silver. Read More....

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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

CHF/JPY: Holding Down The Middle

Yesterday's Fed meeting was a bit anti-climatic with the fed funds rate rising another 1/4 point to 5% and the Fed providing a follow-up statement that struck a sufficiently bland tone. The commentary had only a few alterations from the previous month, though one additional word, "yet", was added to the phrase "some further firming may yet be needed." The implication seems to be that the end of rate rises may be soon, but not necessarily next month. Read More....

Markets To Watch Today

Copper: The Bulls are returning to the market. Copper is limit up this morning as supply/demand numbers reinforce a continued rise in prices. Mining Company Grupo Mexico is planning to shut down its St. Martin mine adding to supply worries. June Copper is 3.9430, limit up 20 cents.

Metals: The Precious metals are all on the rise with Platinum nearing a record high in its bid to catch up with the momentum displayed by speculator darlings Gold and Silver. July Platinum is trading at $1290.00, up $30.30 this morning.

Crude Oil: Crude Oil is not immune to what is shaping up to be a commodity wide bull run. News of a Texas refinery forced to shut down for the week gives bulls that extra dose of confidence before the open. June Crude is trading $73.24, up $1.11 in overnight trading.

FX Closing Comments

The Fed meeting was a bit anti-climatic with the fed funds rate rising another 1/4 point to 5%. The commentary had a few alterations, specifically the phrase "some further firming may yet be needed." The implication seems to be that the Fed acknowledges that the end may be soon. The statement also implies a high degree of "data dependence." The market reaction was subdued with the Dollar slipping a bit more, and equities and bonds remaining largely unchanged. At the Treasury dept., their semi-annual report does not brand China a currency manipulator. The next hurdle for the Dollar is the March trade deficit figure on Friday.

USD/CAD - At 1.10

There were no major FX moves yesterday, and the Dollar continued to languish ahead of today's Fed meeting. The other majors made only small additional gains against the greenback, though the Canadian Dollar did a bit better than most. Aside from the key Fed meeting, there is also a report from the U.S. Treasury dealing with currency manipulators due this afternoon. The big question is whether China, and potentially a few other Asian countries, will be named as "manipulators." Read More....

Bears Getting Squeezed In O.J. Futures

Bears getting squeezed in O.J. futures: Orange Juice futures have been on a tear of late, climbing over 15 cents a pound in the last six trading sessions. Fundamentally, the market looks strong, with 2 consecutive years of a below average Orange production in Florida, a continuing threat of disease affecting Florida citrus groves, and increasing urbanization in south-central Florida-all factors pointing to lower Orange production. In addition, the Atlantic Hurricane season will officially begin on June 1st. Read More....

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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 soared above the $700 mark on the wings of a weaker US Dollar and US response to Iran's "new solutions" letter. The 26-year high remains well below 1980's high of $850 on the cash market, which would translate to $2200 when adjusted for inflation. June Gold is trading at $699.20, down $2.30 this morning.


Crude Oil: Crude jumped nearly one dollar yesterday on the US rejection of the much ballyhooed letter from Iran's President. Tensions remain high, as both sides have maintain a hard stance. June Crude is trading at $70.48, down 21 cents in overnight trading.


Copper: Copper hit record highs supported by strength in Gold and Crude and a weakening US Dollar. Tightening supplies and increased demand were exacerbated by the Grupo Mexico announcement that they will close all mining operations in Zacatecas due to striking workers. June
Copper is trading at 3.6950, up 4.70 cents this morning.

18-year highs for Aluminum

3-month Aluminum futures, traded on the London Metal Exchange, rose past the key $3000 per ton level for the first time in 16 years today, as commodity fund buying overwhelmed hedge selling. With historic prices being made in sister base metals like Copper and Zinc, many traders now believe that Aluminum is undervalued compared to its high flying siblings. Read More....

Markets To Watch Today

There were no major FX reversals today and the Dollar remained under pressure throughout the day. Other majors made small additional gains against the greenback, especially the Canadian Dollar (see above). The key event for the week is tomorrow's Fed meeting. Expect another another .25% rise and an eagerly awaited statement. With a high degree of uncertainty hanging over the Fed's next action, any clues about their plans for June could initiate some FX volatility in the afternoon.
After the Fed meeting, the next major hurdle for the Dollar will be Friday's treasury capital inflow data, which is expected at $68b.

GBP/JPY: A Bit Choppy

There was a lot of indecision in the FX markets yesterday, with very little in terms of strong momentum. The Dollar did, however, pull-back from some recent lows, possibly encouraged by easing crude prices, which dipped below $70 per barrel. The Dollar index was up 14 points on the day, as traders await Wednesday's Fed meeting. It is very likely that this month's commentary will be the biggest event of the week. A hawkish tone may provide some help to the beleaguered Dollar, and imply that another hike is due in June. Read More....

Crude Realities

Crude Realities: Politics remain center-stage in the Crude Oil futures market, as tensions over Iran's nuclear ambitions have forced traders to build a "risk premium" into prices. Some of that "premium" was removed yesterday morning, on word that Iran's President Mahmoud Ahmadinejad sent President Bush a letter proposing "new solutions" to the ongoing conflict. The initial reaction was a significant sell-off in the energy complex, with lead-month June Crude Oil falling to a 4-week low. Read More....

Markets To Watch Today

Energies: Oil prices fell yesterday on news of an Iranian attempt at diplomacy in the form of a letter to the US, addressing increased tensions between the two nations. The letter, promising "new solutions" seemingly gave little insight to Iran's intentions and was no more than a critique of US policy. June Crude closed at 70.01, up 24 cents in overnight trading.


Corn: Corn prices fell as clear weather has allowed farmers to plant an abundant fall harvest. This past weekend was the last prime planting weekend and optimal conditions enabled advantageous planting conditions. Crops planted in late May historically do not produce the same yields as earlier in the month. July Corn closed at 2.40 on the overnight market, up 3 cents for the session.


Gold: Gold futures dropped slightly on the news of Iran's perceived goodwill and lower Crude prices. Today the metal is pushing it's way toward the $700 mark. June Gold is currently trading at $692.30, up $12.30 this morning.

FX Closing Comments

There was a lot of indecision in the FX markets today, with very little in term of clear trends. The Dollar was essentially unchanged. The Dollar index was up 14 points on the day, as traders await Thursday's Fed meeting. This week's commentary is sure to be the biggest event of the week. A hawkish tone may provide some help tot he beleaguered Dollar and imply that another hike is due in June.

July Corn Has Fallen To Its Lowest

Corn correction continues: July Corn has fallen to its lowest levels since late March, as ideal planting weather over the weekend weighed on prices. With much of the US Corn acreage planted, traders will now turn their attention to precipitation forecasts, to see if needed moisture is predicted to get the crop off to a good start. Current predictions from private forecasters calls for rain throughout much of the Corn Belt early this week. Read More....

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USD/JPY: Trade Imbalances

The Fed meets later in the week and is expected to raise another .25%, but the big question is: will it be the last? The data has, for the most part been solid, however, the signals from the new Chairman have been mixed. There is a lot of chatter circulating, both within and outside of the Fed, about a pause in June, and Ben Bernanke has been at pains to explain that any pause could be quickly re-started. In any case, the commentary following the meeting is likely to be the key event of the week and is sure to be the most dissected statement of the week. Read More....

Can't Keep The Dow Down!

Can't keep the Dow down! The headlines talk about record high Gasoline prices, a popping of the housing bubble, and continued tensions in the Middle East. Overlooked in this seemingly bad news is the surging US stock market. June Dow Jones futures hit highs not seen in 6-years on Friday. Read More...

Markets To Watch Today

Copper: Copper is trading lower on news of increases in current stockpiles. Speculation that the threat of striking workers across the globe may be behind the industry and future supplies will increase may finally stall this runaway bull market. June Copper is trading at 3.52, down 2.45 cents this morning.

Crude Oil: Crude prices have fallen on the overnight market to open lower this morning. The current high prices have been a product of capacity shortage and geopolitical concerns. June Crude is trading at 68.80, down 1.39 this morning.

Energies: High Crude prices have caused farmers to change crop choices based on efficiency. Because soybeans require fewer trips across the field, they have become the chosen crop over energy-intensive corn. July Beans closed at 602 in overnight trading, down 4 1/2. July Corn closed at 238 1/4, down 2 1/4.

K.C. Wheat Surges On Lower Crop Estimate

K.C. Wheat surges on lower crop estimate: This year's annual Kansas Hard Red Winter Wheat Tour announced its estimates for the Hard Red Winter Wheat crop for the Sunflower state and it was a shocker! They estimated a state wide total of 319.2 million bushels, down sharply from last year's 380 million bushels. Average estimates from the trade were for a crop size of closer to 340 million bushels. Read More....

FX Closing Comments

This morning's disappointing non-farm payroll release send the Dollar sharply lower against other majors. Next week will bring an FOMC meeting, and the consensus is for another .25% rise in the Federal Funds rate. Where is gets interesting is the June meeting. Today's employment figure does not bode well for an additional increase, though previous indicators have been robust. The other major release next week will be the Treasury's trade numbers for March, which are expected to show an overall $68.6b deficit. Arguably, this is the biggest Dollar negative at present.

Dow Jones Newswire FCOJ Review with Mike Zarembski

DOW JONES NEWSWIRES

Frozen concentrated orange juice futures extended their rally to another new
round of 14 1/2-year highs Friday, as speculative traders added to long
positions amid a short Florida crop and the approach of the 2006 tropical storm
season, traders said.

Nearby May FCOJ rose 45 points to $1.5385, while most active July gained 115
points to $1.5595 a pound. The July contract at one point during the session
reached a $1.5640 high - FCOJ's strongest price on a continuationbasis since
January 1992, when it traded to $1.6100.

"It looks like we're putting in a weather premium into this market. Traders
are worried about the upcoming hurricane season," said Mike Zarembski, analyst
and futures desk manager at XPRESSTRADE in Chicago.

"Nobody wants to take chances," he added, with weather forecasters predicting
another active tropical storm season this year.

Volume was light, allowing prices to climb to their highs amid a lack of
commercial selling.

A short Florida crop that the U.S. Department of Agriculture estimates at 153
million 90-pound boxes provides continued support, along with abnormally dry
conditions throughout most of the state.

The USDA will issue its May crop production forecast next Friday, and some
traders and analysts say there may be room for the government to trim another 1
million boxes off the current estimate.

Though prices reached 14 1/2-year highs and the market is overbought,
Zarembski said there is still room for prices to climb. He is eyeing the
$1.6100 area from January 1992 as an upside target. After that he expects
commercial selling and hedging pressure to limit any advances.

Bullish options trade also helped lift prices, a trader said.

FCOJ futures volume was estimated at 1,643 contracts, with 3,337 calls and 98
put options traded.

The May/July spread settled at 210 points, May under, widening 70 points from
Thursday's settlement.

On Thursday, FCOJ open interest rose 141 to 35,771 positions. Traders
liquidated 247 May positions and added 355 to July. Total May interest is down
to 370, while July increased to 26,741 positions.

EUR/USD: The Euro's Month

The Dollar continued to lag yesterday, with the Dollar Index closing down 48. The greenback lost most ground against the Euro, possibly in response to the ECB President's press conference. Although neither the ECB nor the Bank of England adjusted their rates, the overall message from the ECB seems to be that rates are still likely to rise in June. Read More....

Economists And Analysts Were A Bit Optimistic

Disappointing payroll figures send Bonds higher: Economists and analysts were a bit optimistic going into this morning's Non-farm payrolls figures. The Labor department reported this morning that 138,000 jobs were created in April. This was well below the average analyst's estimate of 200,000 jobs. February and March's figures were also revised downward. Read More....

Markets To Watch Today

Crude Oil: Crude Oil fell another 2 dollars yesterday as high inventories have eased supply concerns. Closing below the psychologically important $70 level has given bears technical momentum, but heavy support remains. The June contract is trading right at $70 this morning, up 6 cents.


Copper: Copper hit new lifetime highs yesterday as low global inventories and anticipated supply disruptions were confirmed in comments by the global copper mining company representatives for BHP Billiton Ltd. July Copper is trading at 3.4710, down 0.85 cents this morning.


Gold: Gold closed higher for the day as buyers entered the market after a selloff early in the session. Strength of the Euro versus a week dollar has given support to the yellow metal. June Gold is trading at $680.00, up $3.30 this morning.


Energies: Natural Gas jumped as the EIA report surprised market participants with bullish numbers in contrast to Wednesday's numbers. The lower than anticipated increase in storage follows several weeks of consistently high builds in inventories. June Natural Gas is trading at 7.000, up 9.4 cents this morning.

Sugar Sinks: A Speculative Sell-Off Hit The Sugar Ring This Morning

Sugar sinks: A speculative sell-off hit the Sugar ring this morning, as sharply lower Crude Oil prices spilled over into Sugar. The July contract gapped lower on the opening, on spill-over selling from London. Sell stops were triggered once July broke below the 20-day moving average at 17.35. Read More....

FX Closing Comments

The Dollar continued to lag today, with the Dollar Index closing down 48. The greenback lost most ground against the Euro, possibly in response to the ECB President's press conference. Although neither the ECB, nor the Bank of England adjusted their rates, the overall message from the ECB seems to be that rates are still likely to rise in June. Tomorrow is the major non-farm payroll release in the U.S. and the figure is expected near 175,000. A strong number over 220,000 might help revive the Dollars fortunes. If a strong number is in store, and markets are unmoved, it would be a rather ominous sign.

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: Surprise Rate Move

FX markets were restrained yesterday, and the status quo seemed to hold for most pairs. To see this type of trading activity, despite robust U.S. data, can only be interpreted as highly discouraging for Dollar bulls. Yesterday's bullish data (factory orders up 4.2% for March and the ISM service index up to 63), increases the likelihood of another rate increase in June, and all but assures another move next week. Read More....

Can The Copper Rally Be Stopped?

Can the Copper rally be stopped? Once again Copper futures are surging to new all-time highs this morning, as comments from the Marketing Director of BHP Billiton, the large mining concern, that base metals prices are unlikely to fall sent prices soaring. The lingering strike at Grupo Mexico's La Caridad mine continues for its sixth straight week, fueling fears that supplies will remain tight. Prices have nearly tripled since May of 2005. Not even a sharp increase in margins at the London Metal Exchange effective Friday has kept speculators from adding to existing long positions. Read More....

Markets To Watch Today

Crude Oil: Crude Oil futures prices fell on news of an increase in both Crude and Gasoline stocks. The market remains sensitive to possible supply disruptions from Iran, but the news added confidence in US refineries ability to meet the strong summer demand. June Crude Oil is trading at 71.50, down another 78 cents in overnight trading.


Gold: Gold hit new highs early in the session, but showed signs of weakness on the Crude sell off began. Bargain hunters jumped back in the market to see the metal close higher for the day. June Gold is trading at 673.50, up $5 this morning.


Silver: Silver was not able to find the same support after the energy report was released. The contract dropped a dollar in a matter of minutes, and though some buyers could be found after the fall, the contract closed lower for the session. July Silver is trading at 13.850, up 5.5 cents this morning.

Speculators sink Silver!

What started out as a normal up-day in Silver turned in to a mini-meltdown, as major speculator selling hit the Silver market just after 9:30 am Chicago time. The culprit was a bearish EIA Crude Oil stocks report released this morning. This sent energy prices falling, and the spillover hit the metals markets hard. Read More....

FX Closing Comments

FX markets were tame today and the status quo seemed to hold for most pairs. Although the Dollar received some bullish data in the morning (factory orders were up 4.2% for March and the ISM service index was up to 63), the greenback has unmoved. This can be seen as a bearish sign (when good news is met with silence). Tomorrow will bring us weekly jobless claims, productivity figures, and euro-wide retail sales. Both the Bank of England and ECB are meeting tomorrow, however no change in rates is expected.

USD/CAD: Approaching Parity?

The Dollar continues to suffer under negative sentiment -- the direct effect of trade deficit woes, international tensions, and mixed signals from the Fed. Ben Bernanke's clarifying comments, regarding the Fed's current posture now has a light-hearted name in trading circles, "The Bartiromo Affair," in reference to the popular CNBC anchor who interviewed the Chairman at the White House over the weekend. Read More....

Gold Futures Have Been On A Tear

Next stop $700? Gold futures have been on a tear the last few weeks, gaining nearly $80 per ounce since the middle of April. With more and more investors looking for ways to diversify their assets from stocks and bonds, precious metals have come back into favor, especially with the threat of inflation rearing its ugly head, as energy prices continue to make new highs. Gold ownership has always been considered an inflation hedge, as well as a store of value in times of political upheaval. 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

Crude Oil: Crude Oil is looking to make new highs after climbing nearly a dollar in yesterday's session. As tensions mount in the standoff with Iran, news of a fire at an Italian refinery sparked additional buying. June Crude is trading at 74.56, down 6 cents in overnight trading.

Gold: Gold set a new quarter century high yesterday and continues upward as weakness in the dollar has prompted increase buying. June Gold is trading at $676.40, up $9 dollars this morning.

Coffee: Coffee futures traded at the NYBOT gained on weather threats to Brazilian crops. The forecast of colder weather may reduce production, while strength in other commodities added support. May Coffee is trading at 1.1150, up 1.15 cents this morning.

Orange Crush!

Orange crush! The commodity bull market is alive and well in the Orange Juice futures market, as a flurry of speculative buying hit the market. No new fundamental news could be found for today's gain, but technical traders noted that the July contract broke-out to the upside of a symmetrical triangle formation last Friday. This is a bullish signal, which spurred further buying by momentum traders. Read More....

FX Closing Comments

The Dollar ended the day mixed, as the market mulled over the Fed's current posture on rates, in light of more hawkish clarification from Ben Bernanke yesterday. Purchasing manager indexes were reported firm across Europe early in the session, though U.S. data has also been robust in recent weeks. The Dollar continues to be weighted down by trade deficit woes and international tensions. U.S. factory order data is due tomorrow (expected at 3.4% for March) and the ISM service-sector index is also due on Wednesday and expected at 60.

EUR/GBP: At The 100-Day

The Dollar's recent slide was stalled yesterday after Ben Bernanke attempted to moderate his earlier testimony to Congress, which had the effect of provoking a feverish bout of Euro buying. The essence of his argument was that the markets had "got it wrong" (WSJ), the Fed was not particularly dovish, and was certainly not averse to continuing-on after a pause. After listening to this new spin on CNBC, traders bought back the Dollar, which managed to reverse some of its recent losses. Read More....

Gasoline Futures On Fire!

Gasoline futures on fire! With energy prices near all-time highs and US Gasoline stocks tight, it does not take much to push prices higher. Sunday, a fire at a Sicily refinery owned by Italian energy behemoth ERG SpA's shut down production at that facility for the foreseeable future. Even though the US imports very little Gasoline from Italy, any disruption has traders bidding-up prices. Read More....

Markets To Watch Today

Crude Oil: Crude Oil futures soared yesterday as another hit on foreign production was announced in Italy. A fire at an Italian oil refinery began in a pipeline on Sunday and shut down production of 160,000 barrels a day. June Crude Oil is currently trading at 73.93, up 23 cents in the ACCESS market.

Grains: Kansas City Wheat closed higher yesterday as much needed rain in the Plains region turned out to be less than expected. The Hard Red Winter Wheat crop has experienced a dry growing season. July Kansas City Wheat closed at 443 1/4, up 5 1/4 in the overnight session.

Gold: Gold continued its rally yesterday as a weak Dollar, high Crude Oil prices and Geopolitical tensions remain. The June Gold contract is trading at $663.20, up $3 this morning.

Sugar Buzz!

July Sugar hit nearly 2-week highs today, as demand for ethanol continues to surge. With Trading in London closed for a bank holiday, New York was the center of attention. Prices gapped higher on the opening, with decent buying from speculators and trade houses. Read More....

USD/JPY: Breaking Report

The Dollar remains under pressure on light volume, owning to the May Day bank holiday around the world. Outside factors (excuses?) affecting the Dollar include today's "day without immigrants" protests, and escalating Iranian tensions. In terms of data, March personal income rose by 0.8%, while personal spending rose 0.6%, both slightly above expectation and slightly inflationary. Read More....

Weather Markets Begin!

Weather markets begin! Its May 1st and the thoughts of commodities traders turns to the grain complex. The "official" start to the spring and summer weather markets began with a bang in Corn futures. Prices were sharply higher on Friday, with commodity funds big buyers in Corn futures, due to concerns that wet weather in the Northern and Eastern Midwest, would delay plantings. Read More....

Markets To Watch Today

Sugar: Sugar growers, who have been limited in their ability to sell for human consumption, are looking at Ethanol to increase sales. The industry is waiting on the results of feasibility study to be released in early July. July Sugar is currently trading at 17.65, up 0.22 for this morning.

Metals: Metals maintain price action. Comex metals are all trading higher this morning, as investor interest continues to climb. June Gold is trading at 663, up $8.50 this morning. July Silver is trading at 14.000, up 3.70 cents this morning. June Copper is trading at 3.3450, up 6.20 cents this morning.

Grains: The CBOT reports in its Commitment of Traders Report that Large Non-Commercial traders have added to their Long Oat positions and scaling back on their long Corn position. July Corn closed at 249.50, up 0.50 in the overnight electronic market. July Oats closed at 190.00, down 0.50.