Financials: Sept. Bonds are currently 8 higher at 153’27, 10 Yr. Notes 5 higher at 127’04.5 and 5 Yr. Notes 3 higher at 117’21.25. Of technical interest, even though the t lead month Bond chart looks like an inverted head and shoulders, the week of June 7th the market made a high of 155’22 only one tick above the resistance established the week of Dec. 22nd 2018 of 155’21. Fundamentally the market appears to have built in a rate cut predicted for July. Personally I question the need for it, seeing as the job market is as tight as it has been in decades. I believe a rate cut will eventually be recessionary and will provide me with reason to abandon current short positions in 5 yr. Notes and the long Dec. 19/ short Dec. 20 Eurodollar spread.

Grains: July Corn is currently 6’4 higher at 436’4, Beans 3’6 higher at 881’6 and Wheat1’6 higher at 528’0. This weeks Grain Report was Bullish Corn, showing a smaller than expected carryout, a cut in expected production from 14.5 billion bushels to 13.68 billion bushels and a cut in yield to 166 bushels per acre from an expected 172.4 bpa. For the moment I remain long Dec. (new crop)/short July (old crop). This spread has given up recent gains with the July gaining 2’6 cents early this morning providing an opportunity to put the spread on under 16’0 cents.

Cattle: Live and Feeder Cattle have moved sideways for the weel albeit with many triple digit swings. I am looking to late 3rd quarter-early fourth quarter for buying opportunities. I remain short the August 102 put.

Silver: July Silver is currently 4 cents higher at 14.79. On recently purchased additional contracts I am raising my protective sell stop to 14.19.

S&P's: June S&P’s are 7.75 higher at 2888.25. I will try the short side on rallies with buy stops above the lead month high of 2961.00.

Currencies: I am on the sidelines until after British elections.

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.

Analysis feed

Latest Forex Analysis

Editors’ Picks

EUR/USD retreats on the hawkish Fed cut

EUR/USD is trading closer to 1.10 after the Fed cut rates but signaled no further rate reductions. The bank acknowledged the strong labor market and robust consumption. However, it is worried about investment.


GBP/USD: Rising wedge at the top inflates downside risk

GBP/USD portrays a short-term rising wedge bearish formation while trading near 1.2475 during the Asian session on Thursday. One-week-old rising wedge surrounding monthly tops questions buyers.


USD/JPY pops 20 pips on the as expected Fed

USD/JPY is currently trading at 108.32 following the FOMC, travelling between 108.08 and 108.33 but is virtually flat on the day as the Fed lowered rats as expected by 25 basis points.


BOJ Rate Decision Preview: Do not expect the unexpected

The BOJ is predicted to leave its base rate unchanged on Thursday just hours after the Fed cut the fed funds rate for the second time and weeks after the ECB restarted it quantitative easing bond purchases.

Read more

Gold drops on strength in the Greenback following a dubious Fed rate cut

Gold prices have dropped on the Federal Reserve decision whereby no real assurance of more cuts down the line were presented. However, the door has been left open which limits the downside potential in this move.

Gold News

Forex Majors