Morning Coffee Brief
Well the Fed minutes have come and gone and the worry and hesitance ahead of the release was unwarranted.
futures
Morning Coffee Brief
In today’s Morning Coffee Brief we find yesterday’s U.S. equity markets saw its first day controlled by the bulls on bullish global data most notable from Germany’s export data report. The report indicates export levels not seen since the crisis started in 2008.
Are we seeing a paradigm shift in gold?
For gold bugs, 2013 was certainly a year to forget with the precious metal continuing its remorseless journey lower, a journey punctuated with minor rallies which promised much, but delivered little. To say it was a gloomy end to the year would an understatement.
Now the focus is on the US dollar
Ahead of Janet Yellen becoming FED chair focus has turned to the USD dollar and whether it is now set for a period of sustained strength, and one reason offered by dollar bulls as to why it still hasn’t taken off is because the euro is even stronger!
Pre-Market Outlook
As we begin the U.S. Pre-Market equity session the S&P 500 futures are clawing their way higher indicating a stronger open this morning.
Crude oil continues lower, not helped by the fundamentals!
Crude oil continued its bearish tone once again last week, closing the oil trading session on Friday at $94.61 per barrel for the December futures contract. With the fundamental picture now calming, the technical element is taking center stage, and in the last few weeks crude oil has breached several key levels, as outlined in previous posts.
Morning Coffee – November 4th
As we begin another the first full trading week of November traders are likely to maintain their focus on U.S. economic data reports.
Morning Outlook – November 1st
U.S. futures are riding yesterday’s momentum of positive U.S. economic data refueling speculation the Federal Reserve may opt to taper its $85 billion stimulus program sooner rather than later.
Where next for WTI crude oil futures?
The WTI September crude oil futures contract is now building into an interesting phase of price action, and in many ways is mirroring a similar period between May and July 2013, where the commodity oscillated between $92 per barrel to the downside and $98 per barrel to the upside, before finally breaking out.
Where next for YM Emini index futures?
For longer term traders in YM futures, the index in April has continued the pattern of trading that we saw during the second half of March, with the Emini contract trading in a tight range, closing the week following the NFP data, at 14,484, and back in this area once again.