Marc Nemenoff
PRICE Futures Group
Financials: Dec. Bonds are currently 11 lower at 141’21, 10 Yr. Notes 5 lower at 126’17 and 5 Yr. Notes2.7 lower at 119’18. On last Friday China lowered key interest rates by up to 40 basis points as Mario Draghi reiterated previous statements that the ECB will do whatever it takes to fight deflation. The obvious effect: A rally in Bonds above the 142’00 level. I am still looking at this market with a bit of skepticism and will continue to treat as a trading affair between 140’08 and 142’28.
Grains: Dec. Corn is currently 2’6 lower at 370’0, Jan Beans 11’0 lower at 1028’0 and Dec. Wheat fractionally lower at 546’4. I still remain negative Corn and Beans and will be a seller on a 12-15 cent rally in March Corn and 30’0+ rally in Jan. Beans. On our next report we will be looking at March contracts in Corn and Wheat.
Cattle: Friday’s Cattle on Feed Report showed the following: All things considered I am looking at the Report as initially negative because of the higher than expected placement number. I will be looking at out of the money puts for Feb. and Apr. LC and May FC.
Silver: Mar. Silver is currently slightly higher at 16.47 and Feb. Gold unchanged at 1198.00. I am on the sidelines.
S&P's: De. S&P’s are currently 6.00 higher at 2067.75. This market continues to rally as interest rates drop globally as Europe and Asisa fight deflation and hope that QE will stimulate. I am skeptical and remain on the sidelines position wise. Treat as a trading market between 2047.00 and 2072.00.
Currencies: I remain on the sidelines.
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 hovers near 1.0700 even as USD struggles ahead of data
EUR/USD has erased gains to trade flat near 1.0700 in the European session on Thursday. The pair comes under pressure even as the US Dollar struggles, in the aftermath of the Fed policy announcements and ahead of more US employment data.
GBP/USD turns south toward 1.2500, US data eyed
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair struggles, despite the US Dollar weakness on dovish Fed signals. A mixed market mood caps the GBP/USD upside ahead of mid-tier US data.
Gold price pulls back as market sentiment improves
The Gold price is trading in the $2,310s on Thursday after retracing about three-tenths of a percent on reduced safe-haven demand. Market sentiment is overall positive as Asian stocks on balance closed higher and Oil prices hover at seven-week lows.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
Apple is due to report Q1 results today after the bell. Expectations are soft given that Apple’s Chinese business got a major hit in Q1 as competitors increased their market share against the giant Apple.