OptionEye Macro Outlook July 14th
Grains off to a decent start following the overnight moves higher. Corn currently up 7, beans up 15 and wheat up 5.
The dollar is weaker at 95.30 which is down .42 after the weaker than expected CPI and Retail Sales. When oh when are these numbers going to turn around. What are all these people that we are putting back to working actually making or doing with their hard earned shekels?
The 10 year trading lower on the bad economic news and stands at 2.31%.
The oil market finally catching a bid at $46.52 up .44 cents. The gold market bid as well at $1228.67 up $11.08.
And finally, stocks shrug off the bad news as it may stall any further rate hikes and trade to all time highs. The Dow is up 20 points and the S&P is up over 3 points.
Have a great weekend.