OptionEye Macro Outlook January 25th
Overnight we see corn still a little weak after failing at the 200 DMA with a key reversal. This morning corn is one lower, beans are 5 lower and wheat is 2 to 3 lower.
The dollar is still weakening at 100.04 down .31.
The president in full action mode with a slew of edicts. We have to watch the affect on the dollar and international trade with his movements on TPP and NAFTA. I think things are going to be very interesting this year - mother nature aside.
The stock market resuming its upward move this morning with the S&P future up 7 points and the Dow future up 64.
The 10 year yield rising to 2.47% and looking to make a move to 2.50% if the stocks keep rallying.
The oil market, in spite of good news yesterday is a little lower this morning at $52.74 down .44 cents.
The gold market quiet at $1207.05 down $1.76.
Today we get MBA Mortgage Applications and FHFA House Price Index.