Tuesday May 20, 2008

Good Morning:

The IMF commented this morning that the US housing decline will continue to weigh down on financial markets. Traders saw this as dollar negative thus taking any steam out of the greenbacks short lived rally. Even though the ZEW reported a lower reading on the regions economic sentiment, and speculation that the ECB will leave rates unchanged in the near future also helped the Euro advance.

World equity indexes were lower, as near record oil prices continues to take their toll on earnings. US Futures are also lower this morning.

Oil: $127.34

Gold: $907.60

Today we have data on:

Producer Price Index (PPI) at 8:30 AM

Exp: .4% Prior: 1.1%

Have a GREAT DAY and GOOD LUCK.