Marc Nemenoff
PRICE Futures Group
Financials: Sept. Bonds are currently 4 lower at 139’09, 10 Yr. Notes 1 lower at 125’28.5 and 5 Yr. Notes unchanged at 119’19. We remain spread long 10 Yr./short Bonds with about at 32 point loss ($1,000.00). By Friday this spread should move one way or another after the weekly jobless claims report, business inventories, PPI, etc. giving us a reason to either stay or bail.
Grains: Dec. Corn is currently 2’0 lower at 366’2, Nov. Beans 4’0 lower at 1069’2 and Dec. Wheat 5’4 lower at 557’2. I will be a small buyer in Dec. Corn below 345’0 for a short term break if the Crop Report should have a negative iniatial impact on the market. As I have stated in previous “Reports”, watch the 1050’0-1055’0 level in Nov. Beans. Cattle: I am currently on the sidelines.
Silver: Sept. Silver is currently 2 cents higher at 20.12 and Dec. Gold 4.50 higher at 1315.00. We remain long Silver. If you added to the position on last weeks break, either take profits on the additional contracts or raise your protective sell stop to the 19.87 level. If the market should trade above 20.20 raise your stop to 20.06.
S&P's: Sept. S&P’s are currently fractionally higher at 1933.00 after trading as high as 1938.75. Yesterday we went short with a protective buy stop in the 1944.00 area. If the market should trade below the 1926.00 either take profits or lower your stop to the 1937.00 area.
Currencies: As of this writing the Sept. Euro is currently 30 lower at 1.3354, the Swiss 29 lower at 1.1004, the Yen unchanged at 0.9788 and the Pound 3 lower at 1.6778. We remain short the Euro with a protective buy stop at 1.3504. If the Euro trades below the 1.3330 level, lower your stop by 50 points.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
Recommended Content
Editors’ Picks
EUR/USD regains traction, recovers above 1.0700
EUR/USD regained its traction and turned positive on the day above 1.0700 in the American session. The US Dollar struggles to preserve its strength after the data from the US showed that the economy grew at a softer pace than expected in Q1.
GBP/USD returns to 1.2500 area in volatile session
GBP/USD reversed its direction and recovered to 1.2500 after falling to the 1.2450 area earlier in the day. Although markets remain risk-averse, the US Dollar struggles to find demand following the disappointing GDP data.
Gold climbs above $2,340 following earlier drop
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.