With prices rising over $200 during the past four sessions, end-of-week profit-taking could dampen upside momentum later on in the session.
Interest Rates: Expect a Bottom to Form After Fed News and 5Yr Supply
While the Treasury market looks to come in above the prior two closes on the charts, the trade is probably hesitant to drive prices sharply in either direction ahead of the FOMC statement.
Stocks: Weaker to Start, Record Apple Earnings Limits Early Losses
The major US indices start on a softer note this morning, with the exception of the NASDAQ which is benefiting from new record high prices in Apple.
Currencies: Dollar Getting Support from Euro-Zone; Waiting on FOMC
The Dollar should find enough support from ongoing Euro zone anxiety to hold onto early gains. Could fall back towards this week’s lows if FOMC meeting comments look to easier US monetary policy in the near future.
Commodity Outlook – 2012.01.23
So far, 2012 has seen a better than expected chain of events than might have been expected at the end of 2011
Interest Rates: Due for a Pullback?
The market’s inability to rally to new highs after the latest European debt downgrade and recent promises of more easy monetary policy from the US Fed suggests that prices are a bit rich.
Energy: Lower Track This Morning; Looking Outside For Direction
The fundamental backdrop is a slight negative for the complex, but geopolitical risks (Iran) and recent boost in risk appetites offer support.
Interest Rates: Seems To Discount Credit Rating Downgrades
Even results from a Spanish debt auction overnight appear to have provided some fresh optimism.
Stocks: Equity Markets Sharply Higher During the Overnight Hours
However, the index has made the upside charge with severely overbought momentum indicators, and that leaves them susceptible to a downside correction.
-
Coffee: Needs Support from Outside Markets
-
Cocoa: Breakout Has Technical Support; Vulnerable to Outside Markets
-
Interest Rates: Expect a Bottom to Form After Fed News and 5Yr Supply
-
Stocks: Weaker to Start, Record Apple Earnings Limits Early Losses
-
Currencies: Dollar Getting Support from Euro-Zone; Waiting on FOMC
Coffee: Needs Support from Outside Markets
by Terry Roggensack on January 27, 2012
The Dollar and global equity market may not be making strong enough moves for the coffee market to receive significant support this morning.