The $Index is lower but the £ and the ¥ are lower as well. The BRIC currencies are all higher against the $. Although Britain remains dysfunctional, US/China trade overtures are more positive than they have been. USDMXN is 19.5565 -0.0695 (-0.3541%), USDCOP is 3,448.75 +0.75 (+0.02%) and USDBRL closed at 4.0943 and is unchanged on the CME.
Equities are beginning on a strong start and bond futures are lower. Gold is higher but meeting some resistance. Crude is higher as are cotton and sugar. Cocoa is lower.
The market is steady but it has been so every day at this time. Rallies can happen as we’ve seen but the pressure on the market can be intense. Still, the OI numbers have indicated new selling, likely specs, and new buying, likely mostly commercial. The COT has been indicating unpredictability with all groups except commercials. Charts remain the best resource for trading.
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