Good morning Andrew,
In counter intuitive trading the Euro is up another 60/100ths of cent against the U.S. Dollar despite a new impasse during this week-end's debt negotiation between Greece and its private creditors...The Street was expecting a deal by now......Apparently hopes still remain high as Euro-zone finance ministers get ready to meet in Brussels today....Last on the Euro $1.2992....Meanwhile the metals are beginning the new trading week solidly higher with the assistance of three forces....A weaker U.S. Dollar, a growing possibility of further U.S. quantitative easing, and an official European banning of Iranian Oil....Silver is up 64 cents at $32.40.....Gold is $10.00 higher at $1674.00.....Palladium sits at $687.00 up $8.00....Platinum is up $13.00 at $1550.00....The Euro-zone oil embargo is being reflected in the energy markets as traders bid up prices on worries of reprisals by the Iranian government....Last on Crude $99.16 up 83 cents per barrel......Looking at the stock markets we find Asian issues closing with gains averaging .6%.....Europe is up .5%.....The Dow appears to be headed for a 25 point higher open.....In other matters, the President will be giving his State of the Union Address tomorrow night, and the Fed will make it's next interest rate decision on Wednesday....While it's safe to say rates will be left unchanged; the question is will the Fed start talking about quantitative easing during its post decision statement.....Should be an interesting week.....That's it.....Have a good morning......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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