December 15th, 2017 - Issue #903
In This Issue
1. World Cup Trading Championship
2. Hot Market Report: Dr. Copper Next Leg Up?
3. Economic Calendar
1. World Cup Trading Championship
2. Hot Market Report: Dr. Copper Next Leg Up?
By Jack Engin Senior BrokerClick on image below to enlarge
Copper and copper futures have a special place in the commodity futures universe. As one of the most important industrial and building materials in the world, copper’s market price is seen as an important fundamental economic indicator for not only the health of the U.S. economy, but also for the robustness of the world’s economy as a whole. In fact, because of copper’s generally accepted importance as an economic indicator in predicting and reflecting over-all economic health, it is ascribed to be the only commodity with a doctorate degree in the field of economics, hence the title, “Dr. Copper”. Cannon Trading’s brokers affectionately call out the words “Dr. Copper” when referring to copper’s present price and market movements, amongst themselves, in a cheerful genuflecting to the respect we believe this commodity and futures contract deserves. Copper’s recent market trading range can be observed in the chart below. Recent buy signal was generated with a speculation that copper may test recent highs. Stay tuned! To explore the possibilities of trading the copper futures contract, reach out to us here Cannon Trading Co. to speak with one of our licensed brokers. You can open an account using online application
3. Economic Calendar
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 12/15 Fri |
7:30 AM CST - Empire Manufacturing(Dec)
8:15 AM CST - Capacity Util & Industrial Prod(Nov) 11:00 AM CST - NOPA Crush 3:00 PM CST - Net Long-Term TIC Flows(Dec) |
LT: Dec E-Mini Dow(CME)
Dec E-Mini S&P 500(CME) Dec E-Mini NASDAQ(CME) Dec Russell(CME) Dec E-Mini Dow Options(CME) Dec E-Mini S&P 500 Options(CME) Dec E-Mini NASDAQ Options(CME) Dec Russell Options(CME) Jan Canola Options(CBT) Jan Cotton Options(NYM) Jan Orange Juice Options(ICE) Jan Sugar-11 Options(ICE) |
| 12/18 Mon |
|
LT: Dec Currencies(CME)
Dec Eurodollar(CME) Dec Coffee(ICE) Dec Mx Peso(CME) Dec US Dollar Index(ICE) Dec Eurodollar Options(CME) |
| 12/19 Tue |
7:30 AM CST - Building Permits & Housing Starts(Nov)
7:30 AM CST - Current Account Balance(Q3) 2:00 PM CST - Milk Production 3:30 PM CST - API Energy Stocks |
FN: Dec US Dollar Index(ICE)
LT: Dec 10 Year Notes(CBT) Dec Bonds(CBT) Dec Canadian Dollar(CME) Jan Crude Lt(NYM) |
| 12/20 Wed |
6:00 AM CST - MBA Mortgage Applications Index
9:00 AM CST - Existing Home Sales(Nov) 9:30 AM CST - EIA Petroleum Status Report 2:00 PM CST - Dairy Products Sales |
LT: Jan Platinum(NYM)
Jan Palladium(NYM) |
| 12/21 Thu |
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly 7:30 AM CST - GDP-Third Estimate(Q3) 7:30 AM CST - GDP-Third Deflator-Third Estimate(Q3) 7:30 AM CST - Philadelphia Fed(Dec) 8:00 AM CST - FHFA Housing Price Index(Oct) 9:30 AM CST - EIA Natural Gas Report 3:30 PM CST - Money Supply |
FN: Jan Crude Lt(NYM)
|
| 12/22 Fri |
7:30 AM CST - Durable Goods Ex-Transportation(Nov)
7:30 AM CST - Durable Orders(Nov) 7:30 AM CST - PCE Prices(Nov) 7:30 AM CST - PCE Prices-Core(Nov) 7:30 AM CST - Personal Income & Spending(Nov) 9:00 AM CST - Michigan Sentiment-Final(Dec) 9:00 AM CST - New Home Sales 11:00 AM CST - Cattle On Feed 11:00 AM CST - Cold Storage 11:00 AM CST - Hogs & Pigs |
LT: Jan 2,5,10 Year Notes Options(CBT)
Jan Bonds Options(CBT) Jan Wheat Options(CBT) Jan Corn Options(CBT) Jan Oats Options(CBT) Jan Rough Rice Options(CBT) Jan Soybeans,Soymeal,Soyoil Options(CBT) |
| 12/25 Mon |
CHRISTMAS DAY
|
|
| 12/26 Tue |
|
LT: Jan Copper Options(CMX)
Jan Gold Options(CMX) Jan Silver Options(CMX) Jan RBOB & ULSD Options(NYM) |
| 12/27 Wed |
6:00 AM CST - MBA Mortgage Applications Index
9:00 AM CST - Pending Home Sales(Nov) 3:30 PM CST - API Energy Stocks |
LT: Dec Copper(CMX)
Dec Gold(CMX) Dec Silver(CMX) Dec Platinum & Palladium(NYM) Jan Natural Gas(NYM) |
| 12/28 Thu |
7:30 AM CST - Initial Claims-Weekly
9:30 AM CST - EIA Natural Gas Report 10:00 AM CST - EIA Petroleum Status Report 2:00 PM CST - Dairy Products Sales 3:30 PM CST - Money Supply |
FN: Jan Natural Gas(NYM)
|
| 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!
