Futures are lower as a result of escalating tensions between the U.S. and North Korea.
U.S. worker productivity increased .9% in the second quarter, which compares to the estimate of a .6% gain.
The 9:00 central time June wholesale inventories report is anticipated to show a .6% increase.
Heightened geopolitical tensions will only temporarily get in the way of this bull market.
The main trend for stock index futures is higher.
There are no flight to quality flows into the U.S. dollar, which should be viewed as a sign of weakness.
The main trend for the greenback is lower, as interest rate differential expectations remain bearish.
The main trend for the euro currency is higher.
Flight to quality buying supported the Japanese yen due to rising geopolitical tensions between the U.S. and North Korea even though some traders might argue that the geographical proximity of Japan to North Korea should have bearish implications.
The Canadian dollar and the Australian dollar are lower in spite of higher crude oil prices.
Treasury futures are higher across the board as a result of escalating tensions between North Korea and the U.S., which spurred buying of haven assets.
The Treasury will auction ten year notes today.
At 12:00 Chicago Federal Reserve Bank President Charles Evans will speak about current economic conditions and monetary policy.
Because of rising geopolitical tensions the probability of a fed funds rate hike has declined.
The probability that the Federal Open Market Committee will increase its fed funds rate at the December 13 meeting is 44%, which compares to 50% from yesterday.
The long term fundamentals for futures are mixed.
September 17 S&P 500
Support 2456.00 Resistance 2472.00
September 17 U.S. Dollar Index
Support 93.310 Resistance 93.750
September 17 Euro Currency
Support 1.1701 Resistance 1.1817
September 17 Japanese Yen
Support .90730 Resistance .91590
September 17 Canadian Dollar
Support .78550 Resistance .79110
September 17 Australian Dollar
Support .7844 Resistance .7925
September 17 Thirty Year Treasury Bonds
Support 154^0 Resistance 155^16
December 17 Gold
Support 1263.0 Resistance 1286.0
September 17 Copper
Support 2.9250 Resistance 2.9600
September 17 Crude Oil
Support 48.77 Resistance 49.97
For more information about these markets, please contact Alan at 312.242.7911 or via email at email@example.com. Thank you.
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Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The risk of loss in trading futures and options can be substantial. The views and opinions expressed in this letter are those of the author and do not reflect the views of ADM Investor Services, Inc. or its staff. Research analyst does not currently maintain positions in the commodities specified within this report. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright © ADM Investor Services, Inc.
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This is not a solicitation of any order to buy or sell, but merely a collection of information related to Archer Financial services and commodities trading provided by Archer Financial services. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor do they purport to be complete. No responsibility is assumed with respect to any such element, nor with respect to any expression of opinion herein contained.
The risk of loss in trading futures and options on futures can be substantial. Each investor must carefully consider whether this type of investment is appropriate for them. Past performance is not necessarily indicative of future results.