E Markets: It Is Not Enough

Commodities: Oil up, Gold down, Copper up 0.1% to $2.6675

  • Oil: $51.26 up 1.5%.Range $50.64-$51.38 with $51.40 pivotal for $52.50 again – focus is on equities, China growth hopes, US inventories. Brent up 1.5% to $59.90 with $60 the pivotal resistance for $62 target.
  • Gold: $1289.40 off 0.15%.Range $1286.50-$1293.50 with focus on $1285 and $1300 still – USD driving. Silver off 0.5% to $15.61 with $15.50 base. Platinum up 0.3% to $805.10 and Palladium up 0.7% to $1291.20. 

Economic Calendar:

  • 0830 am US Dec PPI (m/m) 0.1%p -0.1%e (y/y) 2.5%p 2.5%e / core PPI 2.7%p 3.0%e
  • 0830 am US Jan NY Empire Manufacturing 10.9p 12e
  • 1000 am ECB Draghi speech 
  • 1000 am US Jan IBD/TIPP economic optimism 52.6p 51.8e
  • 1130 am Minn Fed Kashkari speech
  • 0100 pm Kansas Fed George speech
  • 0200 pm UK parliament Brexit vote
  • 0430 pm US weekly API oil inventories -6.27mb p
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