Alerts History
• 17-Nov-2016 07:00:00 AM – FED CHAIR YELLEN SAYS FOMC JUDGED AT NOVEMBER MEETING A RATE INCREASE COULD WELL BECOME APPROPRIATE RELATIVELY SOON
• 17-Nov-2016 07:00:00 AM – YELLEN: RISK OF FED FALLING BEHIND CURVE ON INFLATION STAYS LIMITED AT LEAST FOR NEAR FUTURE, WARRANTING ONLY GRADUAL RISES IN FED FUNDS RATE
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS U.S. ECONOMY HAS MADE PROGRESS THIS YEAR TOWARD FED’S OBJECTIVES
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS JOB GAINS IN 2016 WELL ABOVE ESTIMATES OF WHAT NEEDED TO ABSORB NEW ENTRANTS TO LABOR FORCE
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS EXPECTS GROWTH TO CONTINUE AT MODERATE PACE, WITH GLOBAL GROWTH FIRMING, FURTHER U.S. JOB MARKET STRENGTHENING, AND RETURN OF INFLATION TO FED’S TWO PCT TARGET OVER NEXT COUPLE YEARS
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS STABLE JOBLESS RATE, ABOVE-TREND JOB GROWTH MEAN U.S. ECONOMY HAS HAD A BIT MORE ROOM TO RUN
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS APPEARS TO BE SCOPE FOR SOME FURTHER IMPROVEMENT IN LABOR MARKET
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS FURTHER EMPLOYMENT GAINS MAY WELL HELP SUPPORT LABOR FORCE PARTICIPATION, WAGE GAINS
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS DECISION TO HOLD RATES STEADY AT LAST FOMC DID NOT REFLECT LACK OF CONFIDENCE IN ECONOMY, BUT A JUDGEMENT JOB MARKET HAD MORE ROOM TO GROW THAN FED EXPECTED EARLIER IN YEAR
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS MONETARY POLICY MUST REMAIN FORWARD LOOKING
• 17-Nov-2016 07:00:00 AM – YELLEN SAYS DELAYING RATE RISES FOR TOO LONG COULD ENCOURAGE EXCESSIVE RISK-TAKING AND FORCE A FASTER PACE OF INCREASES LATER
General Comments:
Futures were lower in New York, but higher once again in London. London found support from news of delayed arrivals and sales in Vietnam due to big rains earlier in the year that delayed crop maturity. London also moved higher on news that roasters in Brazil are short about 4.0 million bags of Robusta and will need to fill those losses with Arabica. There was a lot of selling of the Real again as the political problems could be affecting the economy and investment climate. That and the overall US Dollar strength combined to lower Arabica prices in New York. Roasters were quiet. Producers are not finding much buying interest, but are holding firm on differentials. The Brazil Robusta production will be low again. Robusta prices remain very high in Brazil and are holding. More Arabica is being kept for internal consumption now and less is available for export, and this trend is expected to continue.
Overnight News:
Certified stocks are higher today and are about 1.274 million bags. The ICO composite price is now 147.14 ct/lb. Brazil will get mostly dry conditions or some periods of scattered showers. Temperatures should average near normal Colombia should get scattered to isolated showers. Central America and southern Mexico should get mostly dry conditions. Temperatures should average near to above normal.
Chart Trends:
Trends in New York are mixed to down with objectives of 158.00 and 153.00 December. Support is at 160.00, 157.00, and 155.00 December, and resistance is at 165.00, 167.00 and 170.00 December. Trends in London are mixed. Support is at 2110, 2070, and 2010 January, and resistance is at 2160, 2190, and 2220 January.
Source: Barchart.com