Thursday, January 25–Jim Wyckoff’s Morning Markets Report
World stock markets were mixed to weaker overnight. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. Big moves in the currency markets Wednesday have thrown a bit of uncertainty at equities traders late this week.
The U.S. Dollar Index is weaker and hit another 3.5-year low overnight. The greenback slump is a bullish element for the raw commodity sector. Most major commodities are priced in U.S. dollars on the world market. The depreciating dollar makes those commodities cheaper to purchase in non-U.S. currency. The Euro currency rose to a more-than-two-year high overnight.