Thursday May 15, 2008

Good Morning:

Last nights markets were very volatile, with the EUR/USD trading as high as 1.5546 on the heels of strong GDP numbers from Germany and France.

The dollar has since strengthened to 1.5473 ahead of a slew of US data.

World Equity markets were mixed-US futures are trading higher this morning.

Oil: $ 124.72

Gold: $ 866.30

Today we have data on:

Jobless Claims:  Exp: 370K   Prior: 365K

Empire Mfg: Expected Flat   Prior: >6

TIC Flows:  Exp: $67.5B   Prior: $64.1B

Ind Production:  Exp:  -.3%   Prior .3%

Capacity Utilization:  Exp: 80.1%   Prior: 80.50%

Philly Fed:  Exp: -19   Prior: -24.9

NAHB Housing Index:  Exp:  20   Prior: 20

Have a GREAT DAY and GOOD LUCK