|Mon, Aug 22, 16|
US Futures Decline, US Dollar Bounces, and Crude Under-Pressure
After an abundance of FED Speak plus the FOMC minutes last week. US Futures are under pressure in the pre US cash session with an advancing dollar to the high 94 handle. Recent months, dollar appreciation has worried the FED. Recent action by the FED has capped the advancement in the 97 handle and forced a market to sell into the 94 support. The FED has even attempted to use vocal commands in attempt to manipulate Sept/Dec rate hike odds. Even Dudley comments last week indicating UST10Y Treasury Yields are too low given the circumstance in attempt to generate a move that would satisfy the FED.