AS OF JUNE 6TH 2016

Good Morning Members,

As of 4:00 AM EST,London session

US Dollar: Up at 94.135. The US Dollar is up 107 ticks.

Energies: July Crude is up at 49.21.

Financials: The Sept 30 year bond is up 4 ticks.
Indices: The June S&P 500 emini ES contract is up 11 ticks.

Gold: The August gold contract is trading up at 1243.30. Gold is 5 ticks higher than its close.

Correlation- The indices are up and Crude is trading higher which is not correlated. Gold is trading up which is not correlated with the US dollar trading up. It is believed that Gold has an inverse relationship with the US Dollar as when the US Dollar is down, Gold tends to rise in value and vice-versa. Asia was mixed as Europe is trading higher.

Economic Report-
– Labor Market Conditions Index m/m is out at 10 AM EST. This is major.

– Fed Chair Yellen Speaks at 12:30 PM EST. This is major.

Bias- Today the market is not looking correlated market as of now. Therefore will maintain a neutral bias but it can change any moment.