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Market consolidates on lack of conviction

Posted on: February 08, 2017

The markets are jumping this way and that without any real conviction. Like my colleague said this morning, this market is “tired from the over abundance of news” especially with the twitter-happy Donald Trump.

The SP500 is just hovering below the all-time high but I don’t have much conviction of it probing much higher as the market is piling into the US treasuries. Historically, the two markets have a negative correlation to each other. Time will tell on which market is wrong.

It continues to be a slow week with little on the dock for economic data. The only significant data is Canadian jobs number on Friday that may provide a little excitement. December jobs number came in at 46.1K which was great number and will give the CAD a little boost if it continues to come in strong for January.

  • Previous Day’s NA Range 1.3152 - 1.3192
  • Asia overnight range 1.3171 – 1.3200
  • London overnight range 1.3144- 1.3192

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Most Recent Market Updates

November 20, 2017

Natural gas gains 4.4 cents

NYMEX natural gas climbed 4.4 cents higher on Friday.

November 20, 2017

Crude gained $1.41

Crude prompt futures gained $1.41 on Friday to close the day at $56.55.

November 17, 2017

Natural gas falls 2.7 cents

NYMEX natural gas continued it’s decent on Thursday.

November 17, 2017

Crude prices slide $0.19

Crude prompt futures traded in a 69 cent range.

November 17, 2017

USDCAD range bound as Canadian CPI uneventful

Domestically we saw the biggest release of the week a few minutes ago.

November 14, 2017

Natural gas loses 5 cents

Cold weather emerged over the long weekend in the US Midwest to East as anticipated.

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