Market Analysis

What is the best way for the global oil market to handle the potential return of Iranian oil supply? The best way would be to cut a deal with China.
Futures moved higher before the pit open on as the ECB cut its main rate and Draghi outlined their QE plan.
Crypto prices mixed again this morning with only bitcoin (BTC), Ether (ETH) and Monero (XMR) positive in the Top 10. Exchange volumes are back to some of the lowest levels we've seen this year.
We got two new headlines last night, one that said the U.S. would delay the increase in tariffs until October 15th. The other was that Taiwan would step in and buy 3.6 billion dollars in American agricultural products.
Padding a stellar session yesterday, U.S benchmarks surged into the close and extended gains overnight to a high of 3020. In the Midday Market Minute, we pointed to the likeliness of our upside target at 3004 being achieved into the settlement and at the least ahead of today’s ECB policy announcement.
Oil prices reversed course even after a very bullish oil inventory number as the market is now adjusting to the potential return of Iran to the global oil market.
December cocoa futures are attempting to rally but technically 2300 continues to be a level of resistance. Today’s close, above the 9-day moving average, should trigger follow-through on this recent move higher.
A lackluster session with minimal overnight activity. Strong PPI numbers did little to move the market as futures made their ranges within a couple of hours of the equity open.
Grain trader's attention will now turn to Thursday’s USDA report. Bolton fired and the next headline that says the US and China will be meeting to discuss trade (which is inevitable) will suddenly carry a little more weight.
U.S benchmarks are on the positive side of flat this morning with Thursday’s ECB interest rate decision and U.S CPI data looming. First, price action spiked late last night after China published a list of products that won’t be subject to the 25% tariff.