Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 17 lower at 163’20, 10 Yr. Notes 2 lower at 129’20 and 5 Yr. notes fractionally lower ar 120’23. I’m still hesitant to take a position in either Bonds or 10 Yr. Notes with the German 10 Yr. trading at a yield of 0.07%, only 7 basis points from 0% yield. We do ,however, have a Eurodollar position of long EDU15/short EDM17 initiated at 117 points premium the Sept.2015 contract.
Grains: May Corn is currently fractionally lower at 375’4, May Beans 0’4 higher at 966’4 and May Wheat 1’0 higher at 495’4. I will be a buyer in May Corn below 368’0 if the market presents the opportunity.
Cattle: I remain on the sidelnes in Live and Feeder Cattle. We remain long out of the money calls and/or call spreads in June Hogs.
Silver: May Silver is currently 5 cents higher at 16.38 and June Gold 5.00 higher at 1203.00. If you remain long Gold either take profits or raise your sell stop to the 1191.00 level. It is time to roll May Silver contracts into the July contract..
S&P's: June S&P’s are currently 13.00 lower at 1288.00. China’s decision to disallow trading OTC stocks on margin has had a negative effect on Global Equity markets. We remain short and will lower our protective buy stop from 2108.00 to 2098.25.
Currencies: As of this writing the June Euro is currently 20 lower at 1.0790, the Swiss unchanged at 1.0500, the Yen 21 lower at 0.8398 and the Pound 33 higher at 1.4984. The June Dollar Index is 22 higher at 98.830. Take profits from long Euro and/or short Dollar Index positions.
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 holds gains near 1.0650 amid risk reset
EUR/USD is holding onto its recovery mode near 1.0650 in European trading on Friday. A recovery in risk sentiment is helping the pair, as the safe-haven US Dollar pares gains. Earlier today, reports of an Israeli strike inside Iran spooked markets.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD is rebounding toward 1.2450 in early Europe on Friday, having tested 1.2400 after the UK Retail Sales volumes stagnated again in March, The pair recovers in tandem with risk sentiment, as traders take account of the likely Israel's missile strikes on Iran.
Gold price defends gains below $2,400 as geopolitical risks linger
Gold price is trading below $2,400 in European trading on Friday, holding its retreat from a fresh five-day high of $2,418. Despite the pullback, Gold price remains on track to book the fifth weekly gain in a row, supported by lingering Middle East geopolitical risks.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Geopolitics once again take centre stage, as UK Retail Sales wither
Nearly a week to the day when Iran sent drones and missiles into Israel, Israel has retaliated and sent a missile into Iran. The initial reports caused a large uptick in the oil price.