Replies to post #279830 on Zeev's Turnips Patch-No Politics (ZEEV)

[Dances-W-waves]

09:24 ET Gold, Oil, and Dollar Summary : The Dollar is slightly higher against the Euro (1.2035 from 1.2053) and Yen (111.55 from 111.10) after this morning's data showed US jobless claims fell to 336,000 last week (consensus 340,000). Payroll numbers tomorrow are expected to increase; a number below consensus may trigger dollar selling...Gold is slightly lower near 391.90 an ounce. Its recent lack of strength comes as a surprise to some as terror alerts get raised, and an explosion in Athens, Greece, occurred yesterday ahead of the Olympics. Its role as a hedge has apparently slowed...Oil (43.29)climbs back above $43 a barrel this morning as supply concerns remain. Prices retreated 1.32 from its record-high of 44.34 yesterday after OPEC announced they could immediately tap into its 1.5 million barrels a day of spare production capacity to ease prices; contrary to Tuesday's statement that claimed OPEC could not do so immediately. Also causing prices to decline was the US weekly inventory report unexpectedly showing a rise in distillate and gasoline supplies; and Russia's top exporter, Yukos, said courts ruled to unfreeze its bank accounts to pay for production and shipping amid potential bankruptcy. *NOTE: Recent news now reports a change in court ruling, saying it cannot use its accounts. See 09:21 In Play comment for details

[onesevenus]

That was pure TA assesment based on indicators discussed in that post trail.

The factors that I believe will contribute to that move are 1. price of Oil, 2. $US I expect to retreat soon from these levels and 3. inflation numbers. FED needs to get the foreign money into treasuries and equities markets and needs to make those investments attractive. Contradictory it seems, it needs to raise the rates to make treasuries attractive yield wise, yet it needs to make them more affordable which it will get with cheaper dollar. Cheaper dollar will also help reduce the trade deficit. The sequence of events should be, dollar down followed by the rate increase later on.

High price of Oil on a retail end will help fund the budget deficit.

[onesevenus]

"With a little help from jobs report"
Very Soon came into the picture today....
Gold may go thru the $400 ceiling.