OptionEye Macro Outlook September 21st
Overnight sees corn steady easier, beans 6 to 7 lower and wheat down 1.
The dollar is unchanged overnight but above the 92.00 level at 92.50.
Yellen did as expected yesterday afternoon, no surprises, and the market took it in stride.
The stock market liked it as well and finished higher yesterday - no shock there. This morning stocks are pointing to a lower open with the S&P future down 1 and the Dow future down 8.
The 10 year yield is a bit higher at 2.27%.
The crude market is just above $50 at $50.14 down .55. Gold is taking it on the chin at $1292.55 down $8.63 .
Today we get Initial Jobless Claims, Continuing Claims, the Philadelphia Fed Business Outlook, t FHFA House Price Index, the Bloomberg Consumer Comfort Index, Bloomberg Economic Expectations and the Leading Index.
I think regardless of the above, the market will be watching for the Central Bank waffle and rhetoric.