Global Equities and Commodities Heading Lower

On September 26, 2012 by TradingDesk

Global stock markets, along with most commodities, are headed lower this morning. Some Asian indexes hit multi week lows as the dust up over disputed territory continues to damage trade between China and Japan. The Euro is also sliding, as anti-austerity protests in Greece and Spain bring concerns about the fractured system after months of hope that the ECB had saved the day. Likewise, US markets were upset late yesterday, after one of the FED governors threw cold water on their recent stimulus activities, suggesting they may not boost economic growth.

WTI and HO are both heading lower, while RBOB is holding onto gains, reflecting some short term supply disruptions in the New York Harbor as the October contract nears expiration. If WTI breaks below $90, a sharp sell-off aiming for support in the $85 range over the next week or two appears likely.

CLICK HERE for a PDF of this morning’s charts

 

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