Yen Roaring Back To Life
A report showing the Japan economy unexpectedly expanded last quarter sent the yen [JYZ9>JYZ9] surging. The December contract, which is on the Pullback Off Highs List and has the highest HREF=”https://tradingmarkets.com.site/eminis/indicators/actionsigs/adxc.cfm”>ADX Reading (indicating a strong uptrend) of any major futures contract, gapped open then kept advancing, gaining another .0090 to close up .0269 at .9401.
The British pound [BPZ9>BPZ9] also surged, breaking above triple tops to close up .0156 at 1.6356. Going the other way, dollar index futures [DXZ9>DXZ9], from the Implosion-5 List, fell .24 to 99.21.
December T-bonds [USZ9>USZ9], also on the Implosion-5 List and impacted by a falling dollar, fell 16/32 to 113 10/32.
Stock index futures didn’t know which way to go, trading mostly lower before finishing flat to higher. December Dow futures [DJZ9>DJZ9] gained 26 to 11,175.0, S&P futures [SPZ9>SPZ9] fell one point and NASDAQ 100 futures [NDZ9>NDZ9] rallied 36.85 to 2534.75.
Energies were another exceptionally bullish spot in trading action today, getting a lift to new highs after an American Petroleum Institute report said inventories took an unexpected drop. October crude oil [CLV9>CLV9] closed .54 higher at 23.20, unleaded gas [HUV9>HUV9] rallied .0170 to .6840 and heating oil [HOV9>HOV9] gained .0160 to .6112. Natural gas [NGV9>NGV9] decidedly turned around its performance of last week, rallying almost 10% instead of falling by a similar amount last Thursday.
December gold [GCZ9>GCZ9] nudged higher on the back of yesterday’s strong finish, gaining .9 to 258.6. Copper [HGZ9>HGZ9] also finished on its high of the day and at a one-year high of 83.35.
The grains finished lower in quiet trading: November soybeans [SX9>SX9] lost 1 to 507 1/4.
In the meats, October lean hogs [LHV9>LHV9] were the biggest mover, falling 2.000 (their daily limit) to 43.300. February pork bellies [PBG0>PBG0] also dipped 1.200 to 53.100.
In the softs, coffee [KCZ9>KCZ9] (from the Implosion-5 List) fell to a new low of 87.20 and November orange juice [OJX9>OJX9], which appeared on today’s 6/100 Low Volatility List, shook things up, jumping 2.20 to 93.60.
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