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Senior Contributor

OptionEye Macro Outlook - Jan. 8th

Good morning.


Things have stabilized overnight in Asia as the powers that be calm the market with their buy orders.


Overnight corn up 1, beans up 3 and wheat up 2.


It is all about the jobs numbers this morning as things have stabilized overnight in anticipation. We aer expecting 200k jobs. Anything under 175 won't be good for the market and I think that 250k-300k would be very helpful at this moment in time.


The 10 year yield is at 2,17% going into this jobs number. The sotck market is up with the S&P up 14 points and the Dow future up 112 points.


Oil is also catching a bid as things have settled down globally. Currently crude is trading at $33.53 up .26. Not much but at least it's up. You probably could guess than with things settling down gold will be lower and it is. Currently gold trades at $1100.80 down $8.20.


The dollar is up this morning at 98.74 up by .53.


Obviously we get the non-farm payroll numbers this morning as well as the unemployemnt rate. We are expecting 200k and 5.0% respectively. We also get Average Hourly Earnings, the Labor Participation Rate, Wholesale Inventories and Consumer Credit.


Buckle up this morning and have a great weekend.



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