OptionEye Global Macro Outlook April 5th
Overnight things have settled down a bit. Corn us 1 better, beans are 2 cents better and wheat up 2 to 3. A little bit different than yesterday's open.
The dollar is remarkably steady at 90.28 up .13. That 90 level is still holding - barely.
The stock market had a massive swing yesterday finishing higher and is pointing to a higher opening today with the S&P future up over 17 points and the Dow future up 129. Its like yesterday never happened.
The 10 year yield stands at 2.81% as the risk comes back on.
The crude oil market also recovering at $63.57 up .20 cents. Gold has backed off a bit as things have settled down and trades at $1327.32 down $6.00.
Today we get the Challenger Job Cuts, Initial Jobless Claims, Continuing Claims, the Trade Balance and the Bloomberg Consumer Comfort Index.