OptionEye Macro Outlook - Dec. 4th
Overnight grains see corn unchanged to a little easier, beans dow 3 and wheat up 2. Yesterday's rallies were mainly due to the dollar getting crushed after the ECB's press conference. The dollar is a little stronger today at 98.26 up .64.
The stock market looks to open a bit higherr with the S&P future up 4 and the Dow future up 32. We have the all important Non-farm payroll number this morning so things will be quiet until that number is released.
Oil is a bit higher at $41.75 up .67 cents. Gold is off .71 cents to $1061.47.
The 10 year yield screamed higher to 2.31% as the market is confident about a good jobs number this morning and a rate hike on the 16th of Dec. Watch this space.
It's all about the jobs this morning. Hang on tight.