Good morning Andrew,
Metals, currencies, and oil are treading water as traders await another speech this morning by Fed Chairman Ben Bernanke in front the National Association of Business Economists.....Traders will play close to the vest until the 8:00 Eastern speech gets underway....A look at London trading shows Silver off 2 cents at $32.27.....Gold is $1.00 lower at $1661.00......Palladium sits at $672.00 up $12.00.....Platinum is changing hands at $1639.00 up $7.00.....
In currency trading the Euro sits at $1.3254 off 17/100ths of cent against the Dollar with traders expressing some new concerns over Spain's ability to meet it's budget cut mandates....Meanwhile European Central Bank President Mario Draghi stated the worst of the European crisis is over......As for energy trading we find Crude oil down 4 cents at $106.83 per barrel....
In stock market activity; Asia ended it's trading day essentially unchanged......European issues are up about .5%.......Dow futures are indicating a 50 point higher open.....
Today's economic calendar carries one report for trader consideration.....Pending Home Sales for February are expected to show a rise of .5% versus January's gain of 2%....Not exactly inspiring......
In other news of importance; the Supreme court will begin hearing arguments today about the constitutionality of the President's Affordable Healthcare Act....After three days of arguments the Court will render it's decision in June......That's it....Have a good morning......
Peter R.....Southern Trust Metals, Inc.
Toll free 1-877-448-0080
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