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Senior Contributor

OptionEye Macro Outlook October 18th

Good morning. 

 

Quiet day yesterday looks to get off on a better start. Equities will claw back their losses from yesterday with the S&P future up 11 points and the Dow future up 76 points. 

 

The 10 year yield is stuck in the mid 1.70's at 1.76%. Will she or won't she...that is the question. It only matters what Janet thinks. 

 

The overnight grain market sees corn steady to a bit better, beans steady to a bit easier and wheat 3 to 4 lower. 

 

The dollar is a little weaker this morning at 97.73 off .15. That is still pretty strong considering...

 

The oil market is up by .48 cents to $50.42 as we gravitate to the $50 level looking for direction. Although we are higher this morning it feels as though the OPEC mandate is cracking. Gold is up at $1261.61 which is higher by $5.80.

 

Today we get CPI. Yesterday's Empire Manufacturing numbers were pretty bleak. 

 

 

 

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