CCE opened with a sharp gap up on Thursday, but traded in a tight range throughout the day. Shares finished up by $6.30 at $25.48 on the highest volume of the year. The stock jumped to a new high for the year.
US 4Q GDP is 5.9% vs expected 5.7% and preliminary 5.7%.
US personal consumption revised down to 1.7% from 2.0% - mixed report overall.
A spokesman for Brown says there are no meetings planned with the queen this weekend. This makes an election announcement this weekend unlikely.
Risk currencies are just above recent lows. The Euro was boosted due to short covering and rumors of a hedge fund buy the Euro, in spite of woes of Greece and Eurozone. EUR/USD initially touched lows at 1.3530 and from there never looked back on its way to 1.3600 highs. AUD/USD began its climb at the 0.8800 level at lunch time in the NY session, and topped the move off near 0.8910 late in Asia trading. NZD/USD surged from 0.6905 to 0.6955, and GBP/USD made minor gains to 1.5285 after a low near 1.5240. 120.60 levels in EUR/JPY were quickly erased as the pair eventually hit 121.40 highs. Yen down from yesterday’s highs.
GBP/JPY moved from 136.00 to just over 136.50, and AUD/JPY drove from 79.10 to 79.55. USD/JPY remained stationary near 89.25.
With UK and US GDP due up later in the day. Next week will bring some exciting data in the Australian RBA rate decision and NFP in the US.
GBP/JPY moved from 136.00 to just over 136.50, and AUD/JPY drove from 79.10 to 79.55. USD/JPY remained stationary near 89.25.
With UK and US GDP due up later in the day. Next week will bring some exciting data in the Australian RBA rate decision and NFP in the US.
Gold is currently consolidating following a large advance. It may be forming a bullish technical pattern. The top-end of the range is capped by the 200-hour moving average at $1110. If it breaks moving average on upside, it could surge higher due to a run of stop loss orders and fresh momentum buying.
Crude prices got a lift from an equity rally inspired by FED and a weakening dollar, as the government reported a better-than-expected drawdown in gasoline stockpiles.
The IMF (International Monetary Fund) said it had no comment on a rumor that China is the buyer of the remaining 191.3 tons of gold the IMF is selling.
Alistair Thomson of the IMF's Press Office told Kitco.com that the agency does not comment on speculative stories, calling this a "sensitive area" of discussion.
The unconfirmed rumor was based on Russian news reports and some sources said it boosted gold futures prices.
In his daily commentary, Jon Nadler, Senior Analyst for Kitco Metals Inc. wrote, "According to the Russian FinMarket news Agency, Chinese officials have confirmed the intention for China to buy the remaining 191.3 tones of IMF gold that are still for sale. The rumors have however not yet been confirmed. "
The IMF announced the sale of its remaining 191.3 tons
(Source - Kitco.com)
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