After better than expected November's
PMI read of 57.3 is up from 56.4 last month, and the highest print this
year. Leading is a 3 point gain in New Orders to 63.6 and a 2 point gain in
Production to 62.8. Supplier Deliveries curiously fell 1.5 points to 53.2 .The
dollar (UUP +0.3%) gets a boost, trading at about a 2-year high vs. the
loonie, and about to bust through to its highest since early 2009 against the
yen.Already lower on the session, the fast print sends Treasurys down a bit
further, and the 10-year yield up to 2.80%. TLT -0.6%, TBT +1.3%.Gold and silver
and to their losses, GLD -1.8%, SLV -2.3%.
Following are trade calls
for today,
- Sell Usd/Jpy at 103.40 stop
above 104.00 target 102.20
- Buy Jan Crude Oil around
93.50/70 stop below 932.80 target 95.30/96.90
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