Stocks...
June Equity Futures will become the dominant month today.
Spu’s…June is trading at a 10.00 point discount to March.
Nasd 100..June is trading at a 9 point discount to march
Bonds..
FX…
June Forwards…These are the current spreads between cash and the June futures.
Euro…(M) +30 ticks over cash or March
Pound.(M) +4 ticks
Yen…(M)…+22 ticks
Aussie.(M) -30 ticks
Kiwi..(M)…-33 ticks
Suisse (M) +40 ticks
USD/CAD…133.19 (75.08) is the 200DMA.
Cash and futures do not line up the same. Defer to the cash level.
Canada would need to see some sustained price action under 75.00 for profit taking.
Commodities…
Oil…weakens under 37.50 for another dollar.
Gold ...is caught between 1260-1250
General Comments or Valuable Insight
There will be a lot of posturing over the next two sessions going into the Wed. FOMC announcement.
A rate rise or a hawkish statement will be viewed negative Gold, short term negative equities, and price positive the Dollar.
Qtrly Futures & Options expitration s Thursday into Friday.
All currency Futures expire today @ 9:15 CDT with the exception of Canada which is tomorrow A.M.
Let the week unfold.