US equities open with very minor chop, around the sp'2100 threshold. A move to 2115/20 zone looks very probable, more viable early Thursday.. than late today. With the USD +0.4% in the DXY 100.10s, commodities are under pressure. Gold -$10, whilst Oil is -1.6%, ahead of the EIA report.
So, ADP jobs data came in fine.
Next up, the EIA oil report (10.30am)
Equity bulls could do with a whipsaw higher in Oil... back into the $42/43s.
There is some kind of China deal news. The previous two days of trading were certainly suggestive of a move higher, with the MACD cycle turning positive.
time to shop... back soon.
10.31am.. Oil inventory surplus.. 1.8 million barrels.... not great.... but neither apocalyptic.
Oil is holding -1.6%.. but with bad news out of the way.. the threat is now of a whipsaw higher.