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Senior Contributor

OptionEye Macro Outlook - Mar. 3rd

Good morning.


Overnight corn is steady better, beans are steady better as well and wheat is up 1 to 2 cents. The dollar is slightly weaker this morning to 98.13 which is down .07 but is still very strong relatively speaking.


The 10 year is feeling more comfortable and is hanging around the 1.85% but the world still has not significantly changed. Remember, 2/3rds of the worlds sovereign debt has a negative interest rate. Not good.


Stocks are going to open quietly this morning with the S&P future down 2 points and the Dow future down 16.


Oil is sharply unchanged at $34.66. Gold is quiet as well as we await Non-Farm Payroll. Right now gold is up $3.79 to $1243.77.


We get Initial Jobless Claims, Continuing Claims, Markit US Services and Composite PMI's, ISM Non-Manf. Composite, Factory Orders, Durable Goods and Capital Goods. Lots to look at but it will be still all about tomorrow's Non-Farm Payroll and Wage numbers.





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