Toxic or Tonic?

Incidently, the release of the US June Non-Farm Payroll and press conference on interest rate decision by the European Central Bank(ECB) tonight would be done almost at the same time. This may create unusual volatility on the Euro and USD, commodities and financial markets. Market watchers believe the most likely scenario would be :- ECB to raise interest rate by 0.25% and worsening of the June's non farm-payroll data. As such, the results from tonight's announcement could be Toxic to USD/World markets/Growth but Tonic to Euro/Oil/Commodities/Inflation. The question in our mind is whether the already weak market has already taken these scenarios into consideration. To add more sambal chillies to our already hot nasi lemak, the latest tense political situation, "non-opening" of our stock market couple with hugh drop in Asian markets today may leave us with some sweaty and burning sensation tomorrow. Oh get me some water and aspirin plz!!!

* Non-farm payroll. If US's June result were to show negative, it will be the 6th negative results in a row since January 2008. In the last recession 2001-2003, there were 15 consecutive months of job losses and the largest recorded monthly job losses was 325,000 jobs: Dailyfx

* Computer glitch hits Bursa due to "multi hardware failure in core trading system" -don't understand the jargon. Whatever reasons given will not get back the confidence lost by investors and market participants. Hey, did I hear many people wanting to sue Bursa on this? Yusri, how can you let such thing happened? Where is your backup? Bad..........need to cut both you and your senior management's pay on this...

* ML: GM faces bankcrupcy and needs USD15b infusion to stay afloat. Its share price fell to its lowest level since 1954 to USD9.98 yesterday.

* Gold futures will be offered from Oct 2008 in The HK Exchanges and Clearing. It will offer bullion contract in spot, 1 month and 2 months futures quoted in USD and ounces.

* China's Authorities today introduce controls on "hot money" by requiring Chinese exporters to provide details of billings on overseas revenues for their records.