Amercian actress Blake Lively heats up the beach for the cover page of fashion magazine Vogue US for the month of June 2010. Blake discovers it all her splendor figure under the lens of Mario Testino and certainly does not disappoint expectations of her fans.
Euro weakens to 2006 levels dragging commodities down with it
Commodities continue to experience mixed fortunes with natural gas back in vogue amid hot weather and expectations about an active hurricane season.
Difficult financial market conditions inside the Euro zone still indicating a bumpy road ahead. Banks are lending their excess liquidity to the ECB rather than to each other, which is similar to the situation leading up to the collapse of Lehman Brothers. Ten year yield spread between German government bonds and some Southern European ones rose to levels not seen since 1997 with investors continuing to play it safe.
Economic data from the U.S. is still pointing in the right direction; however the pace of job creation is still only showing a slow improvement. Stock and commodity markets reacted negatively to this on Friday after the monthly U.S. employment report was released.
Commodities are still struggling to regain some traction after the heavy losses suffered during the month of May. Natural gas is the only one standing out having rallied more than 10 percent during the past week in the process rising to a three months high. The latest inventory report showed stockpiles rising less than expected which triggered a break above the 200 day moving average at 4.54.
Hot weather in North East and the midcontinent of the U.S. has boosted demand for gas-powered electricity to run air conditioners. In addition news from the government that gas producers seeking to drill in Gulf of Mexico must resubmit plans to comply with new safety and environment requirements in the wake of the BP oil spill disaster also supported prices.