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Senior Contributor

OptionEye Global Macro Outlook January 31st

Good morning. 


Overnight sees corn steady, beans down 4 and wheat down 3. 


The dollar is weak at 88.95 down .20. 


The stock market wants to open a bit better after the State of the Union speech but is definitely off its overnight highs. The S&P future is up 7 points and the Dow future is up 61. 


The 10 year yield still is strong at 2.69%. 


The crude oil market stands at $64.07 down .43 cents and gold is higher at $1343.49 up $4.98. 


Today we get MBA Mortgage Applications, ADP Employment Change, the Employment Cost Index, the Chicago Purchasing Managers Index, Pending Home Sales and the FOMC Rate Decision.

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