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Senior Contributor

OptionEye Global Macro Outlook February 8th.

Good morning. 


Overnight more of the same as far as volatility goes. Don't get lulled to sleep....this isn't over. 


The corn market is steady to a bit easier, beans down 1 and wheat down 3. 


The dollar is above that 90 level this morning and stands at 90.56 up .31. 


The stock market is pointing higher this morning - so far - with the S&P future up 3.50 points and the Dow future up 36.


The 10 year yield is higher at 2.83% - so stocks being higher is a strong-ish sign this morning. 


The crude oil market is lower being pressured by the strengthening dollar and trades at $61.63 down .16 cents. Gold continues to confound as it makes a move to $1300 and stands at $1310.35 down $8.17. Again, don't let this lull you to sleep. 


Today we get the WASDE numbers, Initial Jobless Claims, Continuing Claims, the Bloomberg Feb. Economic Survey, the Bloomberg Consumer Comfort Index, Mortgage Delinquencies and MBA Mortgage Foreclosures. 

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