Bonds are currently 0’3 lower at 163’15

Marc Nemenoff PRICE Futures Group

Financials: Dec. Bonds are currently 0'3 lower at 163'15, 10 Yr. Notes0'3 higher and 5 Yr. Notes 0'2.5 higher at 119'27.50. The market, for the most part, is unchanged for the week, although there was plenty of volatility. Trump tweets, Turkey, Syria, European growth slow down, possible German recession, China trade negotiations and broadly Central Bank negative rates has had traders daily switching from risk on to risk off and back again. I continue to have a bullish bias and remain a buyer on breaks. Long term resistance remains in the 167'00 area for the 30 Yr. Bond

Grains: Dec. Corn is 0'4 lower at 393'6, Nov. Beans 0'2 higher at 924'0 and Dec. Wheat 3'0 higher at 503'2. I have taken profits on long Dec. Corn positions slightly above the 380'0 level. If you remain long raise your protective sell stop to the 381'0 level. Crop production report today.

Cattle: Live and Feeder Cattle once again moved higher for the week. We went short Dec. LC in the 110.75 area once the Oct. contract traded above 107.00 .

Silver: Dec. Silver is currently 3 cents lower at 17.78, up about 20 cents for the week. Stay long.

S&P's: Dec. S&P's are 5.50 lower at 2913.0 after a volatile evening/early morning of which the market had a range of 2881.75 to 2923.50. Falling from the early session highs on speculation of a failure in trade negotiations with Chinese trade delegation. I continue to have a bearish bias and recommend selling rallies with stops above the 2948.00 level, which is slightly above the 2946.00 downside break out level. Currencies: I remain on the sidelines.

Author

Marc Nemenoff

PRICE Futures Group

Mr. Nemenoff is a 37-year veteran of the futures industry.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.