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Category: Currency Futures

In simple terms, a currency futures contract is a futures contract where you agree to exchange one currency for another, on a specified date at a price that is fixed on the date when the contract is purchased.

Having been around since the 1970s, currency futures are counted as medium to high risk contracts. One thing worth knowing about forex is that they are not traded on a centralized exchange, futures currencies however do and that is an advantage for traders in our opinion. Now, in order to bring down the risk of trading currency futures, one can rely on hedging. This blog archive on currency future lists a number of write-ups on currency futures and hedge funds.

At Cannon Trading, we can help you with all that you need to know about currency futures trading. Our professional team educates and assists you in dealing with tricky trade situations. Please do read the informative articles that have been listed under this category.

Risk OFF Behavior, December KC Wheat, Levels, Reports; Your 4 Urgent Must-Knows for Trading Futures on November 5th, 2025

Posted on November 4, 2025 by Cannon Operations

Risk OFF

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3886.10	3916.00	3967.00	3996.90	4047.90
Silver (SI) — Dec (SIZ5)	45.85	46.37	47.17	47.68	48.48
Crude Oil (CL) — Dec (CLZ5)	59.35	59.86	60.44	60.95	61.53
Dec. Bonds (ZB) — Dec (ZBZ5)	116 26/32	117 3/32	117 11/32	117 20/32	117 28/32

All but 1 of the rationale followed the playbook today.

And by the way the U.S. Dollar has continued its break from a 5-month long range and is continuing to rally, we are over par as of this writing: Dec US Dollar index 100.35 With risk off in play on this Election Day, and gold not rallying, we can only come to the conclusion the rally in the Gold market was overdone albeit, remaining at an elevated , flight to quality in the face of uncertainty at a continued high price level.

Tomorrow is day 37 of “The Mother of all Shutdowns”!

Historically, U.S. government shutdowns have had a minimal and short-lived impact on financial markets. While short-term volatility is possible, markets tend to focus on broader economic fundamentals such as corporate earnings and interest rates and generally recover quickly once the government reopens.

But why the Risk off mode? And for how long?

I’ll address those in this coming Friday’s Next Week segment after we gather more data.

December KC Wheat

December KC Wheat is approaching the third upside PriceCount objective off the October low to the $5.37 area. It would be normal for the chart to react in the form of a near term consolidation or corrective trade from this level. IF the chart can sustain further strength, we are left with the low percentage fourth count to the $5.98 area to aim for.

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk. Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors.

Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for Nov. 5th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

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Second Interest Rate Cut, December Cotton, Levels, Reports; Your 4 Critical Need-To-Knows for Trading Futures on October 30th, 2025

Posted on October 29, 2025October 29, 2025 by Cannon Operations

What You Need to Know Before Trading Futures Tomorrow!

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3861.93	3910.07	3978.13	4026.27	4094.33
Silver (SI) — Dec (SIZ5)	46.01	46.69	47.60	48.28	49.19
Crude Oil (CL) — Dec (CLZ5)	59.02	59.67	60.34	60.99	61.66
Dec. Bonds (ZB) — Dec (ZBZ5)	117 7/32	117 20/32	118 13/32	118 26/32	119 19/32

interest

Interest Rates

It wasn’t even apparent during Chair Jerome Powell’s post-announcement news conference what triggered the price jolts in several of the futures markets this afternoon – including a ±50-point decline in the E-mini S&P 500 and a ±200-point decline in the E-mini Nasdaq in the span of eight minutes, or the ±$40 sell-off in gold in the span of two minutes.

Regardless of the cause, they served as the latest real-world examples of why it’s so important for traders of all types to assess the risks of their trades – before you enter into them – and have a plan to manage that risk. Day traders and position traders alike should be aware of important planned events – just like FOMC announcements and press conferences – and anticipate the potential risks to those events (these days it’s wise to include occasions when the U.S. president speaks, considering his ongoing involvement and influence in global trade relations).

These events certainly create opportunities for traders – outsize moves can also result in outsize favorable outcomes – but the most important aspect to trading – is always to manage risk.

General – Interest Rates:

Day 29 of the U.S Government shut-down, now the second-longest on record.

The Federal Reserve cut interest rates by a quarter of a percentage point today – its second consecutive rate cut, lowering the Fed’s benchmark interest rate to a range of 3.75 to 4 percent, its lowest level in three years.

Stock Index Futures:

We’re amidst earning season for the third quarter. Moving into full swing, all eyes were on Microsoft, Google-parent Alphabet and Facebook-owner Meta today– all releasing their latest earnings results after the closing bell.

Tomorrow:

Apple and Amazon

December Cotton

December cotton violated its contract low this month but for now was unable to sustain the break towards the low percentage drawn downside PriceCount objective near 57 cents not shown here for presentation purposes. The new chart has activated upside counts on the correction higher and is quickly approaching the first objective to the 66.27 area. To achieve any additional upside targets, we will first have to break out above the long-term downtrend

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

Daily Levels for Oct. 30th, 2025

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Economic Reports

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FOMC Tomorrow, December Live Cattle, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on October 29th, 2025

Posted on October 28, 2025 by Cannon Operations

FOMC Tomorrow

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3837.43	3906.47	3970.33	4039.37	4103.23
Silver (SI) — Dec (SIZ5)	44.83	46.01	46.69	47.88	48.56
Crude Oil (CL) — Nov (CLX5)	58.65	59.28	60.39	61.02	62.13
Dec. Bonds (ZB)	118 18/32	118 27/32	119 1/32	119 10/32	119 16/32

October 29^th, Tomorrow, is the 96^th anniversary (seems like the term “anniversary” should be celebratory rather than marking a day of dread for the nation) Black Tuesday: when the US Stock Market crashes, ending the Great Bull Market of the 1920s and eventually contributing to the Great Depression. While we don’t expect this current Great Bull Market will crash tomorrow, yet anytime soon, it is not a novel idea to manage risk, it’s imperative.

Tomorrow is also the release of the expected 2^nd to last in a series of Fed Rate cuts while Chairman Jerome Powell will read a statement and will avail himself to the Press Corps. Expectations are for .25 reduction to the 3.75-4.00 range. Although surprises do occur, the only surprise tomorrow would be in the language used to massage future rate cuts, rather than the cut itself. Big Earnings after the close tomorrow as Microsoft, Google and Meta.

Previously in this blog I have included some option strategies, for both high volatility markets and low volatility markets. Measures of volatility are important to understand more holistically your risk management requirements when implementing your option strategy. I am including some basic definitions of the “Greeks” used to measure the impact of volatility on Option Premiums. In trading futures options, they help traders assess risk and manage their portfolios. Below are the definitions of the primary Greeks, tailored to futures options:

· Delta: Measures the rate of change in an option’s price for a $1 change in the underlying futures contract’s price. It ranges from 0 to 1 for calls and -1 to 0 for puts. For example, a delta of 0.5 means the option’s price moves $0.50 for every $1 move in the futures price. Delta also approximates the probability the option will expire in-the-money.

· Gamma: Measures the rate of change in delta for a $1 change in the underlying futures price. It reflects the acceleration of the option’s price movement. High gamma indicates delta is highly sensitive to price changes, which is common for at-the-money options near expiration.

· Theta: Measures the rate of change in an option’s price due to the passage of time, often called time decay. It’s typically negative, as options lose value as expiration approaches. For example, a theta of -0.05 means the option loses $0.05 per day, all else equal.

· Vega: Measures the sensitivity of an option’s price to a 1% change in the implied volatility of the underlying futures contract. For example, a Vega of 0.10 means the option’s price increases by $0.10 if implied volatility rises by 1%. Vega is higher for longer-dated options.

· Rho: Measures the sensitivity of an option’s price to a 1% change in interest rates. For futures options, Rho is often less significant due to typically short maturities and stable interest rates, but it still indicates how much the option price changes with shifts in the risk-free rate.

These Greeks are critical for understanding how factors like price movements, time, volatility, and interest rates impact futures options pricing and risk. If you’d like, I can dive deeper into any specific Greek or provide examples of their application in trading strategies.

Instant Viewing/Download: Commitment of Traders Report – How to Use?

December Live Cattle

The rally in December live cattle lost its momentum this month and activated downside PriceCount objectives on the correction lower. The break accelerated to its third count to the 224.50 area where it appears we may try to stabilize for a moment, at least. At this point, IF the chart can sustain further weakness, the low percentage fourth count would project a possible move to the 200.00 area.

Daily Levels for Oct. 29th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Algorithmic Precision Trading, December Soymeal, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on October 24th, 2025

Posted on October 23, 2025 by Cannon Operations

Enhance Your Edge with Algorithmic Precision

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	4035.77	4083.83	4127.67	4175.73	4219.57
Silver (SI) — Dec (SIZ5)	46.88	47.71	48.47	49.30	50.05
Crude Oil (CL) — Nov (CLX5)	58.60	60.12	61.16	62.68	63.72
Dow Jones (YM) — Dec 2025	46437	46669	46831	47063	47225

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algorithmic

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Important: Trading commodity futures and options involves a substantial risk of loss.

The recommendations contained in this blog are of opinion only and do not guarantee any profits.

Past performances are not necessarily indicative of future results.

December Soymeal

December meal satisfied its first upside PriceCount objective off of the October low. It would be normal for the chart to react from this level in the form of a near term consolidation or corrective trade. From here, if we can extend the rally with sustained strength, the second count would project a possible run to the $298 area.

And that’s a December Soymeal projection for you!

Daily Levels for Oct. 24th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

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Trading Resources, December Silver, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on October 8th, 2025

Posted on October 7, 2025 by Cannon Operations

Trading Resources

trading

Some useful resources for trading on Cannon Trading Website!

Heat Map:

Daily Research

Economic Calendar

Trading Courses

FOMC Minutes will be out tomorrow as FOMC is not a govt. agency!

Contact our trading desk today with any questions about the markets!

December Silver

The rally in December silver is approaching its third upside PriceCount objective in the 49.373 area. This target is consistent with a test of the all-time high from 2011. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. If the chart can sustain further strength, we are left with the low percentage fourth count objective in the 71.55 area (not shown here for presentation purposes).

Daily Levels for Oct. 8th, 2025

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Economic Reports

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Silver Reaching New Heights, December Gold, Levels, Reports; Your Important Need-To-Know Facts for Trading Futures on October 7th, 2025

Posted on October 6, 2025 by Cannon Operations

Silver Hitting Multi Years Highs

silver

Silver Soars

By Andy Hecht – www.cqg.com

A bullish trend since the 2020 low
Silver rises to the highest price in fourteen years- The 2011 and 1980 highs are the upside targets
Fundamentals support higher silver prices
Gold supports rising silver prices
Expect volatility and new highs as investment and speculative demand are critical

At the turn of this century, nearby COMEX silver futures prices were $5.413 per ounce. After trading as low as $4.02 in November 2001, silver prices began a slow ascent, reaching $49.82 a decade later, in April 2011. The 2011 peak was slightly below the record 1980 high at $50.32 per ounce.

Silver corrected from the 2011 high, but the price remained above the $10 level, trading to a low of $11.64 in March 2020 as the global pandemic weighed on prices across all asset classes. Silver quickly recovered, rising to over $20 four months later in July 2020.

In September 2025, silver futures are closing in on a challenge to the 2011 and 1980 peaks, and all signs indicate that those levels could soon become technical support rather than resistance.

A bullish trend since the 2020 low

The continuous COMEX silver futures contract reached a low of $11.74 per ounce in March 2020 as the global pandemic gripped markets across all asset classes.

Read the rest of the article along with charts and More!

Contact our trading desk today to learn how we can help you integrate silver and gold into your strategies.

December Gold

December gold has accelerated its rally into a new all-time high. The chart is taking aim at its upside PriceCount objective the 401.7 area. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. If the chart can sustain further strength, we are left with the low percentage fourth count in the 616 area (not shown here for presentation purposes) which is viewed as an unlikely target.

Daily Levels for Oct. 7th, 2025

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Economic Reports

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FED Speakers, PCE, Bitcoin and Ether Futures, Levels, Reports; What you Need to Know for Trading Futures the Week of September 22nd, 2025

Posted on September 19, 2025September 19, 2025 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1259

The Week Ahead – Fed Speakers, PCE
Futures 101 – Trading Bitcoin and Ether Futures
Hot Market of the Week – Dec. Mini SP500
Broker’s Trading System of the Week – Natural Gas Swing Trading System
Trading Levels for Next Week
Trading Reports for Next Week

Important Notices: The Week Ahead

By John Thorpe, Senior Broker

Fed Speakers & PCE to Dominate the Week Ahead

fed speakers

Fed Chair Powell to speak in Warwick, RI Wednesday, Heavy week of Fed speakers as well.

The Spice you should be ordering now that Fall is right around the corner should be anything but the pumpkin variety!

The spice building into these markets is what traders look for, Volume is back and so is volatility on many fronts.

With the FOMC meeting behind us, listen for more nuanced language, outside of the 3 cuts prior to years end, Chair Powell shared during after his rate cut speech Wednesday. You will be hearing from a slew of Fed Speakers posting up this week (schedule is below). This unit by themselves, will, no doubt be responsible for bringing additional spice to the marketplace

Those trading markets other than the indices understand rates effect nearly all the markets we trade. To name a few: precious metals (inflation), Bonds (long term rates following short term to varying degrees), the energy complex (cheaper capital higher demand), Equities (cheaper capital), Currencies (capital flows out of US dollar denominated assets to higher interest rate debentures) Grains, Lumber, etc.

As for earnings reports we are truly at the end of Q2 Reporting. We have but a few laggards reporting this week

The on again off again nature of Tariff news has created golden opportunities for breakouts in some markets, rangebound trades in others. The market is just bored with the talk about Russia/Ukraine war cessation, until there is major movement, looks like it’s all up to Putin to move the needle.

Continued volatility to come as next week all markets will be reacting to whatever comes out of U.S. Govt leadership relating to conflicts cessation and trade deals, especially with China great talks with XI and Trump tda, India, Canada and Russia. Also, remember that Mexico’s extension will end October 29.

We’ll see you next week! Please enjoy a safe and memorable weekend.

Earnings Next Week:

Mon. Quiet
Tue. Micron
Wed. Quiet
Thu. Costco, Accenture
Fri. Quiet

FED SPEECHES: (all times CDT)

Mon. Williams 8:45am, Musalem 9:00am, Barkin, Hammack and Miran, (new kid on the block) 11:00am
Tues. Bowman 8:00am, Bostic 9:00am, Fed Chair Powell from Warwick, RI 11:35 am
Wed. Daly 3:10 pm
Thu. Goolsbee 7:20 am, Williams 8:00am, Bowman 9:00am, Barr 12:00 pm, Daly 2:30 pm
Fri. Hammack 7:00am, Barkin 8:00 am, Bowman 12:00pm, Musalem 12:30 pm, Bostic 5:00pm

Economic Data week:

Mon. Quiet
Tue. Redbook, &P PMI, Richmond Fed
Wed. Bldg Permits final, EIA Crude Stocks, 17-week Bill auction
Thur. Initial Jobless claims, Core PCE, GDP Final, Existing home sales, EIA NAT GAS Storage, Fed Balance sheet,
Fri. Core PCE index MoM, Michigan consumer sentiment, Baker Hughes

Micro Ether been averaging over 140,000 contracts per day last few weeks!

Micro Bitcoin trades close to 100,000 contracts per day as well!!

If you are a Crypto trader, it is time for you to explore trading Crypto Futures on a regulated centralized exchange!

Introduction to Cryptocurrency futures

Course overview

Cryptocurrency futures, available at CME Group, provide market participants with multiple products for cryptocurrency risk management or market expression. Expand your understanding of the cryptocurrency markets, products, and underlying reference rates. This course covers:

Bitcoin
Ether
Micro Bitcoin
Micro Ether
Options on Bitcoin futures
BTIC on Cryptocurrency futures

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Hot Market of the Week

Hot market of the week is provided by QT Market Center, A Swiss army knife charting package that’s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.

Free Trial Available

Dec. Mini SP 500

The December Emini S&P is extending its rally with a fresh contract high. At this point, the chart is taking aim at its third upside PriceCount objective to the 7252 area.

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors.

Past performance of actual trades or strategies is not necessarily indicative of future results.

Brokers Trading System of the Week

NAT GAS

Markets Traded: Natural Gas NG

System Type: Swing Trading

Risk per Trade: varies

Trading Rules: Partially Disclosed

Suggested Capital: $25,000

Developer Fee per contract: $60 Monthly Subscription

Get Started

Learn More

Disclaimer The risk of trading can be substantial and each investor and/or trader must consider whether this is a suitable investment. Past performance is not necessarily indicative of future results.

IMPORTANT RISK DISCLOSURE

Futures trading is complex and carries the risk of substantial losses. It is not suitable for all investors. The ability to withstand losses and to adhere to a particular trading program in spite of trading losses are material points which can adversely affect investor returns.

The returns for trading systems listed throughout this website are hypothetical in that they represent returns in a model account. The model account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant to the listed system’s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available – by the hypothetical single contract profit and loss of trades generated by the system’s trading signals on that day in real time (real-time) less slippage, or if no real time profit or loss available – by the hypothetical single contract profit and loss of trades generated by running the system logic backwards on backadjusted data (backadjusted).

Please read carefully the CFTC required disclaimer regarding hypothetical results below. HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW.

NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN; IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM. ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT.

IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK OF ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS.

THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

Please read full disclaimer HERE.

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Daily Levels for Sept 22nd, 2025

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Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

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Triple Witching – What You Need To Know and How to Prepare – December Mini S&P, Levels, Reports; Your 4 Important Must-Knows for Trading Futures on September 19th, 2025

Posted on September 18, 2025 by Cannon Operations

Triple Witching Tomorrow

by Ilan Levy-Mayer, VP

Triple Witching: What Futures Traders Need to Know for Tomorrow

What Is Triple Witching?

Triple witching occurs four times a year—on the third Friday of March, June, September, and December—when stock index futures, stock index options, and stock options all expire simultaneously. This convergence creates a unique trading environment that every futures trader should understand.

What Happens During Triple Witching?

Volume Surge: Trading activity can spike dramatically as institutions roll over or close positions.
Increased Volatility: Price swings can be sharp and unpredictable, especially near the open and close.
Institutional Flows Dominate: Market behavior often deviates from typical technical patterns.

Implications for Futures Traders

Liquidity is High—but So Is Risk: While there’s plenty of activity, slippage and wider spreads are common.
Execution Challenges: Rapid price changes can make order fills tricky.
Short-Term Noise: Expect unusual moves that may not align with your usual indicators.
The September contracts i.e. ESU25, MNQU25 etc. will stop trading at 8:30 Am Central time and will cash settle based on a special settlement price that usually comes out closer to 9 AM Central. More on that here: https://www.cmegroup.com/trading/equity-index/settlement.html

Trading Recommendations

Stay Disciplined: Avoid chasing moves; stick to your plan.
Use Limit Orders: Helps control slippage in fast markets.
Reduce Position Size: Manage risk during volatile periods.
Consider Scalping or Staying Flat: If you’re experienced, short-term strategies can work. If not, sitting out is a valid choice.
Risk: the last traded price or final traded price will rarely be the same as the Final settlement price. we do not recommend waiting for the final settlement. We recommend exiting any position you have in September prior to 8:30 a.m. Central tomorrow morning.

Bottom Line: Triple witching can present opportunities—but also significant risks. Preparation and discipline are key.

December Mini SP 500

The December Emini S&P is extending its rally with a fresh contract high. At this point, the chart is taking aim at its third upside PriceCount objective to the 7252 area.

Daily Levels for Sept. 19th, 2025

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Economic Reports

provided by: ForexFactory.com

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Interest Rate Cut, FOMC, Levels, Reports; Your 4 Important Must-Knows for Trading Futures on September 18th, 2025

Posted on September 17, 2025 by Cannon Operations

RATE CUT

–

The Day After FOMC

by Senior Broker, Mark O’Brien

General:

Federal Reserve officials have spent months weighing the competing risks to the U.S. economy. Sticky inflation argued against cutting rates; weaker job market conditions argued for it. The voting Federal Reserve governors were widely expected to cut rates by a quarter percentage point today at the conclusion of their 2-day meeting, spurred by a recent downshift in job growth. Fed Chair Jerome Powell tacitly communicated their disposition when he spoke of shifting toward prioritizing employment concerns over lingering inflation worries. Before the announcement there was a greater than 90% chance of a 25-basis point cut according to the CME Group’s FedWatch tool.

FOMC Interest Rate CUT

And today the Fed formally took a side and approved a quarter-point interest rate cut, the first in nine months. The rate cut reduced the benchmark federal-funds rate to a range between 4% and 4.25%, the lowest level in almost three years.

The Fed’s carefully drafted post-meeting statement said the rate cut was justified “in light of the shift in the balance of risks.” The statement no longer described the labor market as “solid.”

Daily Levels for Sept. 18th, 2025

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Labor Department Reports, Non Farm Payroll, ADP, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on September 4th, 2025

Posted on September 3, 2025 by Cannon Operations

Bullet Points, Highlights, Announcements

by Senior Broker, Mark O’Brien

Labor

General:

It’s that time of the month again: we’re a couple of days away from the Labor Dept.’s release of its monthly Non Farm Payrolls report – widely considered to be one of the most important and influential measures of the U.S. economy. The report is released at 7:30 A.M., Central Time on the first Friday of the month and measures the number of workers in the U.S. economy, excluding agricultural workers, and self-employed individuals.

More the usual, this month’s report looks to be a critical moment for traders and investors evaluating the Federal Reserve’s monetary policy in the coming months.

Again more than usual, attention will be on the revisions to the July non-farm payrolls data. Initial values for this year have been consistently downwardly revised, in part due to low response rates for the survey. The possibility of significant downward revisions could reveal more persistent labor market weakness than initially anticipated.

Ahead of that, tomorrow the ADP National Employment Report – jointly developed with the Stanford Digital Economy Lab – will show the latest snapshot of the private sector’s employment situation. While the ADP report has a poor record of predicting the Labor Dept.’s numbers – primarily because of each report’s differing means of collecting data – it.

Indexes:

Get ready for the availability of a brand-new S&P 500 stock index futures contract – and corresponding options. Starting Monday, September 22, CME Group will launch S&P 500 Month-End futures and options.

Each futures and options contract is sized at 100x the S&P 500 Index (each 1-point = $100) and expires at the index close every month, providing greater efficiency and flexibility to manage S&P 500 positions.

Now scale S&P 500 exposure with fewer contracts for greater operational efficiency and simplifying your hedging.

View the CME Group’s FAQs to learn more about trading hours, specifications and more.

Metals:

December gold set its latest all-time record high closing price yesterday: $3,592.20 per ounce, after a stout ±$76 rally. Today’s new all-time intraday high near $3,640.00 per ounce – another ±$45 rally – marks a whopping ±$280 per ounce rally in 10 trading days – going back to Aug. 20, a ±$28,000 per contract move!

Likewise, December silver closed yesterday at $42.06 per ounce, setting its own new all-time record high, a ±$4.25 per ounce move over the same 2-week span, a $21,250 per contract move.

Weekly Chinese Renminbi

The Weekly Chinese Renminbi activated upside PriceCount objectives this summer and now, the chart is taking aim at the first count to the .14150 area.

Daily Levels for Sept. 4th, 2025

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Risk OFF

By John Thorpe, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

All but 1 of the rationale followed the playbook today.

Tomorrow is day 37 of “The Mother of all Shutdowns”!

I’ll address those in this coming Friday’s Next Week segment after we gather more data.

December KC Wheat

Daily Levels for Nov. 5th, 2025

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What You Need to Know Before Trading Futures Tomorrow!

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

Interest Rates

General – Interest Rates:

Stock Index Futures:

Tomorrow:

December Cotton

Daily Levels for Oct. 30th, 2025

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FOMC Tomorrow

By John Thorpe, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

December Live Cattle

Daily Levels for Oct. 29th, 2025

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Enhance Your Edge with Algorithmic Precision

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Enhance Your Edge with Algorithmic Precision

Take the guesswork out of your trading decisions…

✅ Identify possible high-probability setups

✅ Manage risk with precision

✅ Streamline complex analysis into clear, actionable signals

December Soymeal

And that’s a December Soymeal projection for you!

Daily Levels for Oct. 24th, 2025

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Trading Resources

Some useful resources for trading on Cannon Trading Website!

Heat Map:

FOMC Minutes will be out tomorrow as FOMC is not a govt. agency!

Contact our trading desk today with any questions about the markets!