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June 29, 2006
International equities are firm ahead of Fed decision, Thurs., June 29, 2006, 4:37 AM
Equities markets across Asia-Pacific and Europe today are exceptionally strong ahead of the Federal Reserve Bank monetary policy report at 2:15pm ET.
Even gold found support at 580 (spot) overnight, rising to 583.65 before dropping back to 582 after 4am ET.
What I noticed is that the price strength is across the board from insurance to techs to energy stocks.
The notion being floated early today is that economies are strong, there is little inflation and the Fed is going to tone down its message along with a raise in rate by +25 basis points.
I suspect that the initial reaction to the Fed decision will be a boost in equity prices, but that will lead to major traders hitting bids and eventually driving down prices.
Still, all bets are off for me until the Fed acts.
The tables of equity prices are from Yahoo.com and the Gold spot chart is from INO.com.
Posted by Posted by Bill Cara on June 29, 2006 04:37:35 AM | Category: Cara Today in the Market
Commercials buying Gold and Silver
http://www.freecotcharts.com/charts/SI.htm
Posted by: DollarBill![[TypeKey Profile Page]](http://www.billcara.com/nav-commenters.gif)
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June 29, 2006 6:10 AM [link]