May 29th, 2020 - Issue #1008
In This Issue
1. Trading 202: Trading Economic Reports - Free Premium Guide
2. Hot Market Report: Copper Futures Rally on Good Volume
3. Economic Calendar
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1. Trading 202: Trading Economic Reports - Free Premium Guide
Crude Inventories, Unemployment report, Housing Starts are just a few of the market moving reports we have on weekly basis
The financial market’s volatility attracts many to follow and trade economic events and use this volatility to try and generate profit. Unfortunately, trading isn’t easy. Starting from planning and preparing all the way through the releases, analyzing and trading economic events involves many steps. That is why we at Cannon Trading pick this content for you prepared by BetterTrader.Co
To download 26 page PDF "essential guide to trading economic reports", fill out the short form below
Cannon Trading respects your privacy and will never give this information to a 3rd party.
2. Hot Market Report: Copper Futures
By Roger Muri, Commodity BrokerClick on image below to enlarge
Copper belongs to the "metals family": Gold, Silver, Copper, Platinum, Palladium. All traded on the COMEX exchange.
Daily chart of Copper Futures for your review from this morning ( May 29th 2020). Copper is continuing its rollercoaster bouce off the $2.00 mark on March 17th and is now established a 232 supprt level and a 253 resistance level.
If you put a copper chart over an SP 500 chart, you will see that they resemble in price action with a lower volatility in copper than in the equities yet has shown increased volume compared to in the past.
The big question has always been: who is nthe leader and who is the follower? Some stock index traders will follow Copper along with the VIX index in clues for future moves in the equities.
A good market to trade yet not too fast to follow a reasonable pace of market in my opinion.
Copper is "usually" volatile enough and liquid enough to be suitable for both day trading and swing trading.
To access a free trial to the ALGOS shown in the chart visit and sign up for a free trial for 21 days with real-time data.
Copper Futures Specs
Hours: 05:00 PM previous day to 4:00 PM Central Time
Margins: $4125 initial, $3750 Maint. ( as of the date of this newsletter)
Point Value: full point = $250 ( Example: 3.0230 to 3.0330 ). Min fluctuation is 0.0005 = $12.5 ( Example: 3.0230 to 3.0235)
Settlement: Physical Delivery
Months: Every Month
Some of the basic fundamentals to keep in mind when you are considering trading the Copper for this matter:
1. Research supply side in major copper producing countries like Chile, Peru, China and United States.
2. Follow both the industrial demand and investment demand for copper
3. Focus in macroeconomics not microeconomics
4. Correlation to gold and silver
5. Correlation to US Dollar prices
6. Inflationary prospects
7. Geopolitical Stability
8. U.S. Fiscal and Monetary Stability
Our brokers here at Cannon will be happy to chat about the copper market, other metals, other futures, options, futures spreads and much more!
Feel free to contact us at any time.
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 05/29 Fri |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - PCE Prices(Apr) 7:30 AM CDT - PCE Prices-Core(Apr) 7:30 AM CDT - Personal Income & Spending(Apr) 7:30 AM CDT - Adv Intl Trade In Goods(Apr) 7:30 AM CDT - Adv Retail Inventories(Apr) 7:30 AM CDT - Adv Wholesale Inventories(Apr) 8:45 AM CDT - Chicago PMI(May) 9:00 AM CDT - Univ of Mich Consumer Sent-Final(May) |
FN: Jun Copper(CMX)
Jun Gold & Silver(CMX) Jun Platinum & Palladium(NYM) Jun 2,5,10 Year Notes(CBT) Jun Bonds(CBT) LT: May Bitcoin(CME) May Black Sea Wheat(CME) May Fed Funds(CME) Jun RBOB & ULSD(NYM) May Black Sea Wheat Options(CME) May Fed Funds Options(CME) Jun Lumber Options(CME) |
| 06/01 Mon |
9:00 AM CDT - Construction Spending(Apr)
9:00 AM CDT - ISM Manufacturing Index(May) 1:00 PM CDT - Auto & Truck Sales(May) 2:00 PM CDT - Cotton System 2:00 PM CDT - Fats & Oils 2:00 PM CDT - Grain Crushings 3:00 PM CDT - Crop Progress |
|
| 06/02 Tue |
3:30 PM CDT - API Energy Stocks
|
FN: Jun RBOB & ULSD(NYM)
LT: May Butter(CME) May Milk(CME) May Butter Options(CME) May Milk Options(CME) |
| 06/03 Wed |
6:00 AM CDT - MBA Mortgage Index
7:15 AM CDT - ADP Employment Change(May) 9:00 AM CDT - Factory Order(Apr) 9:30 AM CDT - EIA Petroleum Status Report 2:00 PM CDT - Dairy Products Sales |
|
| 06/04 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Productivity-Rev(Q1) 7:30 AM CDT - Trade Balance(Apr) 9:30 AM CDT - EIA Natural Gas Report 3:30 PM CDT - Money Supply |
|
| 06/05 Fri |
7:30 AM CDT - Nonfarm Payrolls(May)
7:30 AM CDT - Ave Workweek & Hourly Earnings(May) 7:30 AM CDT - Unemployment Rate(May) 9:00 AM CDT - ISM Non-Manufacturing Index(May) 2:00 PM CDT - Consumer Credit(Apr) |
LT: Jun Canadian Dollar Options(CME)
Jun Currencies Options(CME) Jun Mx Peso Options(CME) Jun US Dollar Index Options(ICE) Jun Live Cattle Options(CME) Jul Cocoa Options(ICE) |
| 06/08 Mon |
3:00 PM CDT - Crop Progress
|
FN: Jun Live Cattle(CME)
LT: Jul Sugar-16(ICE) |
| 06/09 Tue |
9:00 AM CDT - Wholesale Inventories(Apr)
3:30 PM CDT - API Energy Stocks |
FN: Jul Sugar-16(ICE)
|
| 06/10 Wed |
6:00 AM CDT - MBA Mortgage Index
7:30 AM CDT - Core CPI & CPI(May) 9:30 AM CDT - EIA Petroleum Status Report 1:00 PM CDT - FOMC Rate Decision 2:00 PM CDT - Dairy Products Sales |
|
| 06/11 Thu |
7:30 AM CDT - USDA Weekly Exports Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Core PPI & PPI(May) 9:30 AM CDT - EIA Natural Gas Report 11:00 AM CDT - WASDE Report & Crop Production 3:30 PM CDT - Money Supply |
LT: Jun Nikkei(CME)
Jun Nikkei Options(CME) |
| FN=First Notice, OE=Option Expiration, LT=Last Trade | ||
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own judgment in trading!
