Many investors are focused on yesterdays equity sell off however we are much more interested in the impact that the stronger U.S. Dollar will have.
U.S. Markets are closed today for Memorial Day but the U.S. equities are lower over night. Will GDP growth be negative on Friday and if so, what impact will it have on the markets?
The Euro continues to sell as U.S. equities set up for the Memorial Day long weekend. Find out what we anticipate in our May 22nd Amrket Minute Audio Bite
With the Euro breaking down is the German DAX poised for a continuation higher?
Markets are relatively stable this morning and likely to remain at a stand still anticipating the FOMC market minutes this afternoon.
U.S. Stocks push to new highs with little intermarket support. We continue to watch the U.S. Dollar overnight pop and it's impact on commodities and bonds.
Light Texas Sweet Crude has again failed to breakout higher above $62.00. There continues to be indications that the two month retracement of oil may have run its course. If oil starts trading below $58.00 on a sustained basis, it could trigger new waves of selling back toward March lows.