Minor data points like Case Shiller home price data and consumer confidence will barely cause a ripple today as the market deals with major concerns of a supply disruption from the world’s ninth-largest oil producer, Libya.
Oil prices have screamed higher, up $6.50 on the day to 92.65, off earlier highs near $94.50.
On top of those concerns, you have ECB presidential candidates trying to out-hawk one another. Today’s inflation warning came from Mersch.
Markets are thin and nervous, torn between risk aversion on one hand and inflation-fighting on the other.
Offers are seen in the 1.3685/90 area while stops are seen in the low 1.3690s.
