Monday, November 12, 2007

Excessive Are Fading Away

Excessive speculation in certain commodities like crude oil, copper, gold, silver, zinc, lead and also in stock markets like china, hongkong, india, taiwan is correcting and is a welcome sign for financial markets. Dollar is at 110 against the yen and is still looking weak. Crude oil has retraced from US$97/Barrel is also heartning. Emerging stocks are correcting sharply over the past few trading sessons with chinese central bank increasing banks reserve requirements in order to cool it's hyper charged economy and stem extreme speculation in it's financial markets. Next few days will be crucial for global equity markets as trend is still weak.