Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 1 lower at 157’19, 10 Yr. Notes 2 lower at 127’23 and 5 Yr. Notes 1 lower at 119’26. June German Bunds are 50 lower at 156.20. If you remain short the Bund either take profits or lower your protective buy stop from 158.30 to 157.60. We have taken profits on the long Sept. 2015/short June 2017 Eurodollar spread.
Grains: July Corn is currently 1’6 lower at 361’2, July Beans 6’6 higher at 971’0 and July Wheat 4’0 lower at 469’2. We remain long Corn with a protective sell stop 9’0 below the market.
Cattle: Live Cattle settled slightly lower on Friday and Feeder Cattle moderately higher. I am still on the sidelines waiting for a 250 point rally to enter the market from the short side. We have taken profits on all long June Hog calls and/or call spreads.
Silver: July Silver is currently 20 cents higher at 16.33 and June Gold 8.00 higher at 1182.50. We remain long Silver. AS for Gold we are long but I have to admit that Thurs. & Friday’s break has somewhat shaken my confidence in this position. If you remain long Gold consider taking the loss on this rally or raise your sell stop to 1171.00.
S&P's: June S&P’s are currently 6.00 higher at 2107. On last Thursday I had recommend either taking profits or lowering your stop to the 2107.00 area. I am now on the sidelines.
Currencies: As of this writing the June Euro is currently 39 lower at 1.1159, the Swiss 10 lower at 1.0710, the Yen 4 higher at 0.8329 and the Pound 19 lower at 1.5108. If you once again went short above the 1.1200 level on the Euro, take the quick profit.
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.
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EUR/USD stays under modest bearish pressure but manages to hold above 1.0700 in the American session on Friday. The US Dollar (USD) gathers strength against its rivals after the stronger-than-forecast PCE inflation data, not allowing the pair to gain traction.
GBP/USD retreats to 1.2500 on renewed USD strength
GBP/USD lost its traction and turned negative on the day near 1.2500. Following the stronger-than-expected PCE inflation readings from the US, the USD stays resilient and makes it difficult for the pair to gather recovery momentum.
Gold struggles to hold above $2,350 following US inflation
Gold turned south and declined toward $2,340, erasing a large portion of its daily gains, as the USD benefited from PCE inflation data. The benchmark 10-year US yield, however, stays in negative territory and helps XAU/USD limit its losses.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
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Week ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
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