Overnight Markets and News
The dollar index (DXY00 +0.04%) this morning is trading slightly lower by -0.06 (-0.06%) and EUR/USD (^EURUSD unch) is slightly lower by -0.0011 (-0.09%). USD/JPY (^USDJPY +0.34%) is up +0.36 (+0.34%) on reduced safe-haven demand for the yen. June 10-year T-note prices (ZNM18 -0-050) are down -6.5 ticks as safe-haven demand faded with the partial recovery in E-minis.
May WTI crude oil (CLK18 +0.21%) this morning is up +0.33 (+0.52%) and May gasoline (RBK18 +0.57%)is up +0.0187 (+0.95%) on an upward rebound after Monday's sharp losses. Precious metals prices this morning are giving back some of Monday's sharp gains with June gold down 4.7 (-0.35%) and May silver down -0.127 (-0.76%), but May copper is up +0.011 (+0.34%). Grain prices this morning are trading higher with May corn up +0.25 (+0.06%), May soybeans up +7.75 (+0.75%), and May wheat up +4.25 (+0.95%). Softs this morning are mixed with May sugar down -0.19 (-1.52%), May coffee up +0.10 (+0.09%), May cocoa down -34 (-1.29%), and May cotton up +0.18 (+0.22%).
The Trump administration is reportedly pushing for a preliminary NAFTA agreement that it can announce next week.
The Australian central bank today at its monthly policy meeting left its key interest rate unchanged at a record low of 1.5% for the 20th straight month, which was fully in line with market expectations.
