SubscribeDaily Futures Commentary July 15, 2009
Wednesday, July 15, 2009
September Euro
The September Euro is trading higher overnight driven by increased appetite for risk. Global equity markets are trading better which is leading investors to seek higher yields in more risky currencies like the Euro.
Stock futures markets led by the S&P 500 Index remain up boosted by strong earnings from Intel Corp. and Goldman Sachs. The recent data releases and earnings reports out of the U.S. have been buoying equity markets while putting pressure on both the U.S. Dollar and lower yielding Japanese Yen versus the Euro.
Despite being nervous over earnings results from other leading U.S. banks later this week, risk seeking investors are still providing buying power in the indices overnight. This current rally flies in the face of investors who are still approaching the financial markets with caution. Many investors are still far from convinced that the Euro Zone and U.S. economies are on a steady path to recovery from the deep recession that has been gripping both economies.
While the West struggles to right the ship, China is on track to reach its annual …
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