Volatility Readings Hint Big Moves In Gold, Yen

  • January 4, 2000
  • Marc Dupee

Multiple Days Low Volatility readings for gold and the Japanese yen provided an early indication that the March contracts could make outsized moves. Gold is down 2.4% as traders unwind speculative positions after the year 2000 calendar change passed without a hitch and the yen is down after the Bank of Japan intervened in Asia and Europe overnight to stem the rise of the yen.

From the Implosion-5 List, natural gas has plunged to contract lows as unseasonal warm weather continues to weigh on the commodity.

Stock index are selling off, with the Nasdaq 100 futures down 2.5%.

Here are the highlights around noon Eastern time:






























Stock Index and Bond Futures


  • March T-bonds [USH0>USH0]: +14/32 to 90 10/32
  • March S&Ps [SPH0>SPH0]: -23.10
  • March Dow futures [DJH0>DJH0]: -151.0 to 11,302
  • March NASDAQ 100 futures [NDH0>NDH0]: -96.50 to 3748.00



Currencies


  • March dollar index futures [DXH0>DXH0]: +.08 to 99.97
  • March Japanese yen futures [JYH0>JYH0]: -.0149 to .9815
  • March Swiss francs [SFH0>SFH0]: +.0030 to .6486



Energies

  • January crude [CLF0>CLF0]: -.58 to 25.02
  • January unleaded gas [HUF0>HUF0]: -.0122 to .6640
  • January heating oil [HOF0>HOF0]: -.0192 to .6595
  • January natural gas [NGF0>NGF0]: -.164 to 2.165


Metals


  • February gold [GCG0>GCG0]: -7.0 to 282.6
  • March silver [SIH0>SIH0]: -12.8 to 532.5
  • March copper [HGH0>HGH0]: -1.15 to 85.15


Grains

  • January soybeans [SF0>SF0]: +3 3/4 to 468 1/4
  • January soybean meal [SMF0>SMF0]: +1.4 to 148.1


Meats


  • February pork bellies [PBG0>PBG0]: -1.800 to 79.350
  • February lean hogs [LHG0>LHG0]: -.750 to 55.225

  • January live cattle [LCF0>LCF0]: -.775 to 68.925


Softs and Fibers

  • March coffee [KCH0>KCH0]: +2.60 to 119.10
  • March sugar [SBH0>SBH0]: -.21 to 5.89

  • March cotton [CTF0>CTF0]: -.62 to 50.45