Market Analysis

Interest Rate futures popped higher on tough rhetoric out of China earlier in the day, as market participants waited on Powell's comments.
China launches retaliatory tariffs on another $75 Billion of U.S. Goods. Part of this includes an extra 5% on soybeans, starting September 1st.
U.S. benchmarks trading lower after China implements 10% tariff on crude oil.
BREAKING NEWS: China is implementing a 10% tariff on U.S. Crude causing early market weakness - down -3%.
Silver is clinging to the $17 mark in the same manner that Gold is $1500. The near-term movements are going to be highly dependent on Fed Chair Powell’s Jackson Hole speech
Crypto was higher in the past 24-hours. While volumes remain modest, BTC/USD is playing with some important technical levels.
From the School of Redundancy School, the action was muted again today as players wait on Powell tomorrow. Recent action has been dominated by options relating to the EDZ9 expiration.
U.S benchmarks are lingering at the highest level in a week, a crucial area of technical resistance. Looking at 2950 level to the upside in S&P 500.
The Fed minutes show the Fed is all mixed up. Some Fed members wanted a 50-basis point rate cut. Other fed members wanted no cut at all, and still, other Fed members were in the middle. That lack of clear conviction is one reason oil can’t find a real direction.
December corn futures had one of their most constructive sessions this month, the next two sessions should give us an idea of where we stand in the “bottoming process”.