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Registered: ‎05-03-2010
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OptionEye Macro Outlook August 30th

Good morning. 

 

Overnight sees corn steady easier, beans steady better and wheat up 3. 

 

The dollar has been getting beaten up as of late and trades up a bit today at 92.48 up .23.

 

The stock market will open a bit higher with the S&P future up over 1 point and the Dow future up 24. 

 

The 10 year yield briefly traded below 2.10% yesterday but has recovered to 2.13% but still a little bit nervous. 

 

The crude oil market is lower today at $46.16 down .28 cents with gold backing off a bit overnight to $1311.07 up $1.80 in early trade.

 

Today we get MBA Mortgage Applications, ADP Employment Change, Personal Consumption, Core PCE and the all important GDP. 

 

PCE and GDP will be the two most important indicators to watch today.