A 10-Second Guide To What Traders Are Chatting About This Morning

TSX Toronto Stock Exchange trading floor in 1937

Dave Lutz at Stifel, Nicolaus passes along the topics that people are talking about today.

Good Morning – Futures are rolling off their best levels, and the DAX is up only slightly as EU Fins come under profit taking pressure – losing 1.5%.  The Nikkei surged 2.3% on the back of a weaker Yen – China rebounded as GSAM says Chinese stocks are becoming attractive – Aussie jumped 1.7% as a low inflation print boosts Rate Cut chances – Sensex was unchanged as weight of Expiry there builds into tomorrow.

The € has a slight bid, despite increased chatter of a ECB rate cut on a German Ifo Miss – Yen remains weaker to the $, but nearing critical resistance around Y99.80 – Yields in Spain and Italy are wider, as are US, as Japanese Investors shifted money back towards JGB’s overnight.  The NZ$ is much stronger after refraining from a rate cut overnight (NZ$ the #2 FX used in the “Carry Trade”) – The € bid has the DXY under pressure, a natural tailwind for commodities – We have a Nice rebound in Copper, up 2%, while Gold is up 60bp and continues to outperform Silver – Eyes will be on ABX today.  The Oil Complex is slightly higher, as Brent continues to gain ground over $100 – WTI discount to Brent is out 70c overnight, as more negative Keystone headlines mount.

For more on what’s going on today, see here >

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