Buy Commodities, and Oil in Particular
Jun 7th, 2008 | By Frank Hemsley | Category: Oil Investment & Alternative EnergyAll eyes on Central Banks
Traders will be Fed-watching again tomorrow. That’s when the minutes from the FOMC meeting last month will be released. Each time the minutes are released, they are gone over with a fine-toothed comb as traders look for any kind of indication for the next meeting… and where rates could be heading. This is key data for traders of stocks, currencies and commodities…
What else is there to look out for? Well, the other reports that will get some attention are the import and export prices for March. With inflation being the second biggest concern behind economic growth, these two reports will give us a little look ahead to next week’s PPI and CPI numbers.
The weekly US jobless claims report will get more attention than usual this week after last week’s report spiked to the highest level in three years.
And here in the UK? Well the big one to watch is how the Bank of England acts in their latest rate decision at midday on Thursday. Will they cut by 25 basis points as most of the pundits believe they will? Or leave it on hold? We’ll need to wait and see. It could be a market mover if it’s anything too drastic.
That’s all for today.
Best regards,
Frank Hemsley
Profit Watch
Source: Buy Commodities, and Oil in Particular
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