IPath Dow Jones-AIG Grains Total Return Sub-Index volatility flat, grains lower IPath Dow Jones-AIG Grains Total Return Sub-Index overall option implied volatility of 27 is at its 26-week average according to Track Data, suggesting non-directional price movement.
Teucrium Soybean Fund volatility flat as soybeans trend lower Teucrium Soybean Fund overall option implied volatility of 22 is at its 26-week average according to Track Data, suggesting non-directional price movement.
U.S. Challenger reported announced layoffs declined 6.9k in August U.S. Challenger reported announced layoffs declined 6.9k in August to 40.0k, after climbing 15.5k to 46.9k in July (data are not seasonally adjusted). The pace of job announced job cuts is down 20.7% y/y. Announced hiring also fell 6.9k to 9.7k.
Bank of England keeps benchmark rate unchanged at 0.5% The Bank of England voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at 375B pounds.
FX Action: Narrow ranges prevailed FX Action: Narrow ranges prevailed ahead of the potentially market-moving ECB meeting today and tomorrow's U.S. jobs report. The BoJ announced unchanged policy as was widely anticipated, and reaffirmed its commitment to the Y60-70 tln annual expansion in the monetary base. USD-JPY lifted modestly and recovered the 105.0 handle after BoJ Kuroda said that a firmer USD-JPY rate would be in balance with fundamentals. Yesterday's peak at 105.31 remained unchallenged. EUR-USD also remained below its high from yesterday at 1.3160. While the ECB is unlikely to announce the broad based asset purchases, Draghi will likely re-affirm his commitment to such a step on the back of downward revisions to the central bank's growth and inflation forecasts. GBP was steady. The BoE's upcoming announcement is likely to be a non-event for markets as a no change, no statement outcome is all but a certainty AUD-USD settled in the mid-0.93s after briefly extending to a one-week high of 0.9364 during the Sydney session on a firm Australian retail sales number.