Energy Action: NYMEX crude has fallen back Energy Action: NYMEX crude has fallen back to $45.20 lows, after peaking at $47.08 earlier. The move comes as the National Hurricane center shifts the path of hurricane Joaquin further east, and presumably away from energy infrastructure on the northeastern coast. Gasoline futures have tumbled as well, down over 5 cents/gallon from session highs, currently at $1.36/gallon. Natural gas futures took another hit from strong storage build data, and is trading at five-month lows of $2.458/M BTU. A break of the April 27 base of $2.443 will take the contract into three-plus year low territory.
FX Action: The dollar slipped FX Action: The dollar slipped to session lows after the combination of ISM miss and slightly higher than forecast construction spending. EUR-USD touched 1.1206 highs before pulling back under the figure, as USD-JPY headed into the 119.50 region. Stocks are under water, while yields are near session lows.