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Thursday, October 12, 2006

Traders Await Fed Beige Book

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Traders Main Focus is at Fed Beige Book at 18:00 GMT, which shall move the FX markets much effectively.
Just few minutes back we had Crude Oil Inventories Data, The report suggest as enough inventory is availble, which would push the price down, however NYMEX traders also have back of there Mind re "OPEC MEETING"
So we could see tight range trade happening in Energy Markets.
Precious Metals is also moving in same ranges, sit tight, remember Precious Metals have solid co-relation with Crude Oil Market, than rather USD for this 4th Qtr of the Year.
However 570 holds very nicely.

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