03 April 2023 – 09:16 Central Euro Time

OPEC+’s significant production cut announcement gapped Oil up at the open by +5.8%, indeed thus far by as much as +7.9%, (presently +5.1% at 79.56). With the exception of both Copper and the Spoo, all of the other BEGOS Markets are below today’s Neutral Zones, and volatility is moderate toward turning robust as the session unfolds. The Gold Update cites the yellow metal as the leading performer amongst all the BEGOS components, but that price by Market Values remains stretched, (the daily Parabolics having also flipped to Short), such that some pullback ought be imminent. Following the Econ Baro having dipped last week, it today looks to March’s ISM(Mfg) Index and February’s Construction Spending.