Tuesday, 2 June 2015

Pre-Market Brief

Good morning. Futures are moderately lower, sp -7pts, we're set to open at 2104. The USD has swung lower on Greek chatter, -0.7% @ DXY 96.80s. Metals are duly a little higher, Gold +$3. Oil has built early sig' gains of 1.2%.



*awaiting factory orders (10am).

Equity futures have seen some strong overnight swings, the sp' was -15pts at one point. We're seeing the usual jumpy price action based on sporadic chatter about Greece.

China saw a second day of strong gains, settling +1.7% @ 4910... 5K is due this week.

As for US equities today... a break under the recent low of 2099 looks due... which should clarify we are headed to the 2090/80 zone... before the Friday jobs data/OPEC meeting.


One of the Bloomberg hosts was utterly ironic with his response that the problem 'is contained to Greece'... it was essentially in the style of Bernanke (talking about the housing market) from 2007/08.

It remains bizarre how most analysts are almost completely oblivious (or should that be denial?) of the chronic economic problems within Spain - the ugliest of the EU PIIGS.

With mass unemployment, a society fractured (have we forgotten about Catalonia?)...  the Spanish people will be screaming to follow Greece when the next major financial crisis hits.

Have a good Tuesday

9.17am.. the USD is getting smashed, -1.5% in the DXY 95.90s, as the Euro jumps on more nonsense Greek chatter.

Metals have naturally jumped, Gold +$7.

Equities remain moderately weak, sp -6pts... 2105.

9.43am.. 50dma of sp'2099.50.. .taken out.... empty air down to the 2080s.

VIX in the low 15s.... 16s look due