| Good morning Andrew,
Sorry; but I am running a bit late this morning...I had a late client meeting on Miami Beach.....
Looking at European activity; we find the metals trading flat to marginally lower...Yesterday's selling seemed to be a self full-filling proficy surrounding the closure of China for the Lunar New Year holiday....Refer to yesterday's update and wrap up for details...
This morning we find Silver changing hands at $16.45 up 1 cent per ounce....Gold is $2.00 lower at $1207.00.....Palladium sits at $782.00 off $4.00......Platinum is $1171.00 down $9.00....
Meanwhile Oil is down some 77 cents per barrel as we await today's Weekly Inventories....Last trade $52.76....
The Euro is $1.1362; off about a half cent against the Dollar....The Greek issue remains front page news.....
European stock are running steady to almost 1% higher...You can almost some sort of agreement, or is it good riddance Greece?.....
New York appears to be headed for a flat to lower opening ahead of today's busy stream of economic data......
Housing Starts for January look to be 1,070,000 units versus 1,089,000.....Building Permits for the same period are estimated at 1,065,000 as opposed to 1,032,000...mixed.....Next comes Producer Prices; a measure of wholesale inflation....The Street expects deflation of -0.4% as compared to -0.3%...Not good for economic expansion....Industrial Production seems to be the bright spot with an estimate of up 0.4% versus -0.1%....The afternoon data includes the latest minutes form the last Fed meeting....Always a source of rampant speculation....That's it....Have a good morning....
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| Peter Rukrigl SouthernTrust Services, Inc. 145 Almeria Avenue Coral Gables, Florida 33134 Local 305-446-4800 Fax 305-446-4448 peter@southerntrustservices.com |
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