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Morning Brief
Asian markets were mixed overnight as local news provided the larger impetus to each market's movement: Japan -0.55%, Hong Kong +0.38%, China -0.26%, Australia +1.26%, S. Korea +0.68%, India (trading) +0.27%.
European markets are lower across the board. All of the markets reacted to the release of the Bank of England "Minutes" with a sharp decline.
The U.S. futures also moved lower following the release from the B.o.E. in a reaction to the currency markets. After the release hit the newswires the U.S. Dollar rose against the Euro and the British Pound. That moved the "Dollar Carry Risk Trade Dial" slightly into "Sell Zone".
Just now the latest estimates for the Euro-zone C.P.I. have come out. The Euro-zone C.P.I. was -1.0% with the Core C.P.I. at -0.6%. That triggered an immediate leap higher by the Euro and companion drop by the USD. The EUR/USD is now roughly at 1.4430 (+0.0029).
European financials are under pressure as traders continue to digest yesterday's news of a transactions tax. Details remain sketchy.
The early trading in the "SPY" is indicating a positive Wall Street opening with a $119.74 bid, up from yesterday's $119 59 close.
Today's U.S. Producer Price Index report is due out at 08:30 hours ET and could be a market mover.
For now though the outlook for Wednesday morning is neutral to slightly positive.
Have a good one...
Curtis Bergquist
Options Manager: Daily Decision-PRO
S&P 500 - Last 12 Month
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