Because of the observation of President’s Day, screen trading was available for a limited number of futures contract with reduced trading hours. US equity futures products closed at 10am CT while interest=rate and FX markets closed at noon CT. ESH11 was down about 1.0% at the break with the Dollar Index little changed.

The only economic reports today were out of Europe this morning. The German Ifo Survey for Feb. ’11 came in at 111.2, up from the Jan’11 reading of 110.3 and above the 110.5 pre-release estimate. The Eurozone PMI Index was 59.0 up from the prior reading of 56.9 and above the consensus estimate of 57.4

Energies and metals were all sharply higher as the Middle East situation continues to expand. Both of these markets are trading for Tuesday’s value date.

Crude w/ 200d MA

CLJ11 was up over 9.00% as the markets reopened for the night session at 5pm CT.

Libya is not the only concern traders are facing. Unease over the planned movement of Iranian warships in the Suez Canal, BP’s halting of oil exploration in the area and a strike by Libyan oil workers are also underpinning the markets. The front-month CLH11 crude goes off the board on the Tuesday close and that could also add to the volatility.

Gold w/ 200d MA

Gold closed above the $1400.00 price level for the 1^st time since 01.04.11

Silver w/ 200d MA

Silver is trading at its highest level since March of 1980