Stuck In the Middle

On June 28, 2012 by TradingDesk

Financial markets remain stuck in their volatile, but generally aimless trading ranges, with yesterday’s gains in stocks already wiped out during overnight trade. Spanish and Italian debt yields have surged again, which is putting some selling pressure on the Euro, although a major move is unlikely until after the latest EU Summit taking place today and tomorrow. The supreme court decision on US Healthcare law today will be closely watched, and could cause some swings in prices, although a long-term impact on prices is unlikely.

Energy prices continue to work towards carving out a bottom, with a buildup of Turkish troops on the Syrian border and an ongoing strike by Norwegian oil workers, supporting crude values. Without a major event however, the charts suggest we continue to move sideways for now.

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