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Friday, April 18, 2008

TGIF -- News and Charts

Natural gas may pull back today with oil prices. Just keep the long-term trend in mind ...

And let's keep the long-term trend in oil in mind as well. This is a chart from my upcoming webinar next Tuesday ...
And energy stocks look like a good place to be in this volatile market ...

Rice Advances to Record as Export Curbs Stoke Concern of Food Shortages Rice futures rose for a fifth day, recording the biggest weekly advance in at least seven years, on concern export curbs imposed by China and Vietnam will spread as importing nations struggle to meet their needs. A global food crisis has reached "emergency proportions," United Nations Secretary-General Ban Ki-Moon said.

Global Wheat Harvest Will Advance 6% as Farmers Plant More, Rabobank Says Global wheat production will advance 6 percent to an all-time high this year, as record prices spur farmers to grow more, Rabobank Group said.


Yen Heads for Biggest Weekly Loss Since September as Carry Trades Revived The yen headed for its biggest weekly loss against the euro in seven months on speculation financial firms will weather credit-market turmoil, encouraging investors to buy higher-yielding assets funded in Japan.

Crude Oil Declines in New York, Retreating From Record, as Dollar Recovers Crude oil fell in New York, retreating from a record yesterday, as the dollar recovered from an all-time low against the euro, reducing the appeal of commodities.

XX and yet, as my friend and crackerjack currency trader Boris Schlossberg points out, "with economic data continuing to favor the euro – German Producer Prices reached a 15 month high on rising energy costs – it may be just a matter of time before the euro bursts through 1.60."


Power Generation Shortages Underpin Global Commodities Gains, Goldman Says A shortage of electricity generation that shows no sign of abating is underpinning gains in global commodity prices, according to analysts at Goldman Sachs Inc.

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