Prices Higher, But Economic Data Remains Mixed

Markets are trending  higher, boosted by further weakness in the dollar and higher equity futures.  The unwind in currencies is helping support the various asset classes, but the economic data remains mixed and that has kept the rallies in relative check.  The market is looking for more evidence as to whether growth is slowing (or not), and if they find it we think this week’s rally and possibly last week’s could easily be undone.  If the reports are good (and so is the DOE storage report), $75 in crude will likely become near-term support for the rest of the month.