On the other hand, gold might see some support from a US home sales report and gold might also see some lift off the unveiling of a US corporate tax reform plan.
Energy: Complex Vulnerable to Disappointing US Data and Change in Greek Situation
It is possible that the crude oil complex has rallied too far too fast in the short term in pricing in supply disruption concerns and an improving economic backdrop.
Currencies: Heading Into the Weekend On a Positive Will Help Canadian
The Dollar will start out today’s session with a slightly negative tone but any sort of risk flare-up from the Euro zone would send prices heading back towards the recent highs.
Interest Rates: Markets watching Philly Fed Speech & EU News
The release of the 2013 US Budget hasn’t had a definitive impact on Treasury prices, but that could change today if the Treasury Secretary foments severe bi-partisan fighting.
Stocks: While On Upward Track, Volume Needs to Improve
A potential sticking point for the bull camp comes as EU leaders work on the Greek bailout and debt restructuring package ahead of Wednesday’s meeting.
Commodity Outlook – 2012.02.13
If the markets manage to avoid a buy-the-rumor/sell-the-fact reaction off a Greek debt deal, we suspect that many physical commodity prices might be poised to run up.
Cattle: Supply Continues to Tighten
The cattle market’s supply fundamentals continue to tighten, and traders see the smallest increase in production from the first quarter to the second quarter in the past 12 years for 2012.
Pork Exports for December 2011
US pork exports for the month of December came in at 493.2 million pounds which is down a bit from November but still the second highest monthly export on record.
Wheat: USDA S&D Sets Tone; Ukraine damage? China difficulties?
Bearish news from USDA, March wheat support should emerge near 647 3/4 and then 636 3/4. Supportive news and a resumption of the uptrend leaves 695 1/2 and 705 1/4 as next upside targets.
-
Energy: Early Morning Bias Favors the Bear Camp, but Losses Appear Limited
-
Metals: Gold Might be Facing Adverse Currency Action Choppy Global Equities
-
Energy: Complex Vulnerable to Disappointing US Data and Change in Greek Situation
-
Currencies: Heading Into the Weekend On a Positive Will Help Canadian
-
Interest Rates: Markets watching Philly Fed Speech & EU News
Energy: Early Morning Bias Favors the Bear Camp, but Losses Appear Limited
by Dave Hightower on February 22, 2012
The crude oil complex came under a measure pressure this morning in the wake of disappointing economic data out of China and Europe that sparked concerns over the strength of the global recovery.