Overnight Global Markets (11/18/09), posted 7:30am EST
*Commodity Rally Propels Mining Stocks as Dollar Drops; Gold Reaches Record
*Bank of England Split Three Ways on bond Plan, Considered Deposit-Rate Cut
*Lloyds Banking, ING, KBC Win European Union Approval for Government Aid
*China Faces Dangers of Asset Bubbles as Economy Expands, PBOC Advisor Says
*Maersk’s Kolding Says Container Market Will Grow Nex Year, Rates May Rise
*Housing Starts in U.S. Probably Rose, Consumer Prices Show Inflation Low
*HSBC Brazil Fund Outperforms Biggest Rivals on Economic Outlook, Currency
*Asian Swaps Signal Reduced Bets on Interest-Rate Increases
*Lender That Really Does God’s Work Is Slowed as Mortgage Funding Dries Up
*Obama, Hu Vow Cooperation Amid Divisions Over Yuan Value, Trade Imbalance
*Reid Pushes Democratic Senate Holdouts to Vote for Health-Care Bill Debate
Data as of 7:15am EST:
Dollar Index 74.99 -.34…74.67 low from 11/16 holding – 40/50 day m/a’s have converged at 76! Yen 89.13 weaker by .01; Euro $1.4958 +.0011; Sterling $1.6807 +.0003; Aussie Dollar: $.9326 -.0004. DEC Gold $1147.70 +$8.30 – and a new record high of $1147.70 overnight! The 40 day m/a ($1056) and the 50 day ($1046) are support and still rising rapidly! The 200 day ($965) is major support. DEC Crude $80.03 +.89 – rally high of $82 set 10/21…$75, is major support. Then $75.44, the 40 day, the 50 day at $74.46. Bonds down slightly. Europe 10 yr -1/8. 1 mo Bill 0.04% (1 mo. LIBOR 0.236% – new low), 3 mo Bill 0.05% (3 mo. Libor 0.269% – another new record low), 6 mo Bill 0.16%; 2 yr 0.77% -1/32; 3 yr 1.29% -1/16; 5 yr 2.20% -5/32; 7 yr 2.88% -3/16 10 yr 3.34% -5/32; 30 yr 4.26% -1/16; 30 yr TIP 1.85% -5/16. European equity market stronger, Asia mixed: UK’s FTSE +0.4%; France CAC 40 +0.7%; German DAX +0.8%; Nikkei -0.6%; Hang Seng -0.3% (Shanghai +0.6%; Shenzhen +0.3%); Korean Kospi +1.1%; India -0.3%. Globex slightly better: DOW +20; SPX +1.70; NDQ +1.
