Good morning. US equity futures are fractionally lower, sp -1pt, we're set to open at 2048. USD is +0.1% in the DXY 95.10s. Metals are weak, Gold -$9, with Silver -0.1%. Oil is -0.5% in the $41s.
With the central banks out of the way until next month, the equity bears really need to cool the market into end month.
However, considering oil - which looks headed to the $44/45s by late Wed' morning, further equity upside to the 2070/80 zone look probable.
.. but really... the line must be drawn there. Any daily closes >2080... and the broader bearish scenario will have to be dropped.
A March near sp'2K.. if not under, is pretty damn important.
Fed/Gold chat, Hunter with Kirby
As ever, make of it what you will. I sure don't agree with all of it.
China: +2.1% @ 3018
Germany: currently +0.5% @ 10,001
Have a good Monday