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S&P500 Emini Futures Correlation Bias 9TH August 2016

market bias

S&P500 Emini Futures Correlation Bias 9TH August 2016

The U.S. economy is at increasing risk of becoming trapped in a
prolonged phase of slow growth that points to the need for lower interest
rates than previously expected, Federal Reserve policymaker Jerome
Powell was quoted as saying.
– The U.S. dollar rallied against the yen on Monday amid firming bets for a
U.S. interest rate hike late this year, while oil prices jumped about 3 percent
as speculation grew that OPEC would try to restrain output.

Today 9Th Aug 2016 As of London Session opening
US Dollar: Sept. USD is up at 96.385.

Energies: September Crude is down at 42.69.

Financials: The Sept 30 year bond is up 10 ticks and trading at 171.31.
Indices: The Sept S&P 500 Emini ES contract is 3 ticks higher and trading at 2176.25.

Gold: The October gold contract is trading down at 1333.10. Gold is 33 ticks lower than its close.

Today the markets are nearly correlated and the Emini bias should be upside.

News Releases
NFIB Small Business Index is out at 6 AM EST. This is not major.

– Prelim Non farm Productivity is out at 8:30 AM EST. This is major.

– Prelim Unit Labour Costs q/q is out at 8:30 AM EST. This is major.

– Mortgage Delinquencies – All Day.

– IBD/TIPP Economic Optimism is out at 10 AM EST. This is major.

– Wholesale Inventories is out at 10 AM EST. This is not major.