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MTECHTIPS:-COMMODITY NEWS
1. Australian business confidence rose in April in anticipation of a rate cut by the Reserve Bank of Australia, but actual trading conditions were weak.The National Australia Bank's monthly business survey showed its business confidence index rose to +4 points in April from +3 points in March. Meanwhile, business conditions fell 3 points to zero in the same period.
2. The euro weakened to a three-month low after French Socialist Francois Hollande was elected President and U.S. employers added fewer jobs than forecast. Treasuries and the yen advanced, while commodities slid.
3. Election results in Greece sent tremors throughout Europe as voters punished the parties responsible for highly unpopular austerity measures instituted to prevent the country from defaulting on its massive debts.
4. Meanwhile, in France, President Nicolas Sarkozy lost to Socialist candidate Francois Hollande, who had criticized the country's austerity program and wants to boost government spending.
5. U.S. payrolls increased by 115,000 in April, the smallest gain in six months, according to Labor Department data on May 4.
1. Australian business confidence rose in April in anticipation of a rate cut by the Reserve Bank of Australia, but actual trading conditions were weak.The National Australia Bank's monthly business survey showed its business confidence index rose to +4 points in April from +3 points in March. Meanwhile, business conditions fell 3 points to zero in the same period.
2. The euro weakened to a three-month low after French Socialist Francois Hollande was elected President and U.S. employers added fewer jobs than forecast. Treasuries and the yen advanced, while commodities slid.
3. Election results in Greece sent tremors throughout Europe as voters punished the parties responsible for highly unpopular austerity measures instituted to prevent the country from defaulting on its massive debts.
4. Meanwhile, in France, President Nicolas Sarkozy lost to Socialist candidate Francois Hollande, who had criticized the country's austerity program and wants to boost government spending.
5. U.S. payrolls increased by 115,000 in April, the smallest gain in six months, according to Labor Department data on May 4.
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