We do see them [commodities] as stretched in the short term… said Tom Essaye, founder of Sevens Report Research. Click here to read the full article.
Real interest rates are as low as they have been since the beginning of the pandemic, which is supportive of gold…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
The precious metal’s relatively quiet price action may wind up being the calm before the storm of a…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
Both oil and natural gas are expected to continue higher in the months ahead as fundamentals decidedly favor…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
The group’s leadership reiterated commitment to stable market conditions and flexibility in…Tyler Richey, co-editor at Sevens Report Research, told MarketWatch. Click here to read the full article.
The rise in the dollar was certainly a renewed headwind for oil and all commodities, prompting some cross-asset funds…said Tyler Richey, co-editor at Sevens Report Research. Click here to read the full article.
Commodities are the basic input for global growth and contribute and correlate with inflation. Consequently, related ETFs would typically…explained Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Commodities are an input to the global growth engine that tend to contribute to…according to Tom Essaye, a former Merrill Lynch trader who founded “The Sevens Report” newsletter. Click here to read the full article.
Tom Essaye, the founder and president of Sevens Report Research in Palm Beach Gardens, Florida, says last weekend’s G-20 finance ministers and central bank governors meeting produced no progress on U.S.-China trade, and there are no…Click here to read the full article.
What’s in Today’s Report:
Stock futures, the dollar, and Treasuries are all little changed this morning while international markets were mixed overnight as investors focus on the Fed today.
There were no market moving economic reports o/n although rising trade tensions between the U.S. and China and several bad earnings reports citing slowing global trade (especially FDX) have become a growing headwind for risk assets since yesterday’s close.
With focus on the Fed this afternoon, it is likely to be a quiet morning with price action dictated by positioning into the announcement. The one release that could move markets this morning is the Weekly EIA Inventory Report which will print at 10:30 a.m. ET (E: +800K bbls).
Turning to the Fed, the FOMC Meeting Announcement and Forecasts will hit at 2:00 p.m. ET and then Fed Chair Powell’s Press Conference is scheduled for 2:30 p.m. ET.
To recap, the two key developments to look for from the Fed are balance sheet reductions and fewer rate hikes in 2019 (the dot plot). The market’s expectations of a very dovish Fed are extremely high right now, so there is not much room for error by the FOMC today and any sort of disappointment could spark a wave of volatility across asset classes.