U.S. GDP is growing at a modest pace and the economic expansion is expected to continue, albeit, slowly. The recession signals are benign and the economy is not over heating. This combination supports an environment for cautious and gradual Fed Funds rate hikes.
Directional Bias For The Day: The futures are higher Drifting higher since 3:00 AM Odds are for an up day; watch for the break above 2349.00 for change of fortunes Markets Around The World Markets in the East were mixed – Hong Kong and Sydney were down; Shanghai, Tokyo, Mumbai and Seoul closed higher European markets are higher Dollar index and GBP/USD are higher; USD/JPY and EUR/USD are down Commodities are mixed – crude…
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