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Tuesday, May 10, 2011

CME hike crude margin by Oil Silver Gold today May 10 2011

CME hike crude margin Oil Silver, Gold today May 10 2011 : Forex - AUD/USD, NZD/USD Flows: CME hike crude margin by 25%; Oil $90,Silver $30,Gold $1.4K ; Good to brace for risks of further selloff, correction in commodities - after more CME margin hikes, eurozone debt crisis with focus on Greece and more China tightening again. More on CME: CME Group raised U.S. crude oil futures margins by 25% as of May 10. With open interest in the contract topping 1.65 million lots last week, that would amount to an over $2bn increase in total, with margin for the NYMEX oil futures up by $1,250 per contract - Reuters. On FX, could see unwinding of NYMEX Crude oil, Silver, Gold, commodities long, as some investors, speculators may not want to cough up more margin and will choose to unwind/ cut losses for late buyers. Oil $100.93, Silver $37.57, Gold $1,509.50. Eye break of $90 oil, $30 Silver and $1,400 Gold soon. AUD eye 1.0750 bids, stops below 1.0680 again, then 1.0500. Kiwi at 0.7920-25, eye 0.7500 soon.WL


Forex - EUR/USD, EUR/CHF Flows: WSJ: Germany Needs to Spell Out Hard Choices; Greece ; Euro (1.4339-40) eye big 1.4000 again, EUR/CHF (1.2515) eye huge stops blw 1.2470, EUR/JPY (115.15) below 115.00/114.70. WSJ: German politicians should be careful what they wish for. Faced with angry voters, German leaders are understandably anxious to find ways to avoid further bailouts for Greece. But wild talk of restructuring or countries leaving the euro zone-the latter raised again Mon by a member of Germany's FDP, junior partner in the ruling coalition-is dangerous, and not only for Greece.

Germany is right to explore its options, if only to prove how few it has. The country is providing the largest share among euro-zone nations of the funding and guarantees on Europe's bailouts. A Greek exit from the euro-even if it was legally and logistically possible, which is doubtful-would be a disaster for Greece and the euro zone. On FX, EUR/USD offers 1.4380-1.4400, eye 1.4250-more next.WL For the latest updates PRESS CTR + D or visit Stock Market news Today

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