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Senior Contributor

OptionEye - Macro Outlook - Nov. 19th

Good morning. 

 

Keystone a no go. Missed by one vote. Oil rallies off of yesterday's lows to $74.85 up .24 cents. 

 

Corn down 3, beans down 8 and wheat down 3 as we approach the middle of the week. 

 

Stocks are a little lower as the capital markets await the release of the FED minutes later today. Expectations are not high for any big move but lately this has been the tape to wach. 

 

Gold is up almost to that $1200 leveland sits at $1199.00 up $2.01. 

 

The 10 year is at 2.34% and hasn't been moving around that much. Today's Fed release may give it some action. 

 

Lastly, the dollar is slightly stronger at 87.67 up .09. 

 

Economically besides the Fed minutes we get Building Permits, Mortgage Apps and Housing Starts. Watch them closely. 

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