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Markets to Watch 09/21/2007


Gold: Continued U.S. Dollar weakness and near-record high Oil prices have traders and investors flocking to the Gold market, with spot Gold hitting 27-year highs in Asia this morning. The run-up is causing fresh buying in Gold futures, with the December contract trading as high as $747.10 in early morning trade. With traders still looking for further interest rate cuts by the Federal Reserve this year, concerns that inflation will accelerate is helping the Gold bulls cause. Currently, December Gold is trading at $743.60, up $3.70.

Platinum: October Platinum soared to nearly 2-month highs during trade in Tokyo, as a weak U.S. Dollar makes Platinum more affordable for non-Dollar buyers. Johnson Matthey Plc. Reported that world Platinum demand rose by 1.2% so far this year, with Europe accounting for just over 1/3 of global demand. In early trade, October Platinum is trading at $1338.50, up $9.90.

Orange Juice: November Orange Juice futures rallied to highs not seen since mid-August, as traders begin to cover short positions before next months first official estimate of Florida orange production. Low FCOJ stocks and a declining tree count in Florida are also supportive to prices. However, slack retail demand is keeping a lid on further gains. In early trade, November Orange Juice is trading at 126.20, down 0.20.

 

Economic Data Scheduled for Friday, September 21, 2007
(All times in U.S. Central Time)

U.S.
None

Canada
7:30 AM: Retail Sales for July (MoM) (consensus 0.0%)

 

Futures trading involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future trading results. Trading commentary and analysis is based on information taken from trade and statistical services, news services, and other sources which XPRESSTRADE believes are reliable. We do not warrant that such information is accurate or complete, and it should not be relied upon as such. XPRESSTRADE's policy is to publish market research that is objective, clear, fair, and not misleading. Trading commentary and analysis reflects our good faith judgment at a specific time and is subject to change without notice. There is no assurance that the advice we give will result in profitable trades. All trading decisions will be made on a strictly unsolicited basis by the account holder.

 


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Mike's futures career began in 1991, when he began trading for himself as a floor trader at the Mid-America Commodities Exchange (MidAm) in the wheat and corn futures and options pits. In 1999, Mike joined TD Waterhouse as a securities broker where he obtained his series 7 and 63 licenses. Seeing the growth in online futures trading, He joined XPRESSTRADE in 2002. Mike attended DePaul University and the University of Illinois at Chicago and holds the series 3 license. He's now an assistant manager at XPRESSTRADE and a senior market analyst. In his free time, he can be found attending symphony or other cultural events in the city.

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