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Category: Metal Futures
Trading metal futures? If you are planning to, then it is important to know that in this kind of trading you always have to come prepared. Do your homework and track the indices daily. Take out time and check how metals are doing in different parts of the world.
Take a look at the Eastward market every day. The first markets to open are the Asian ones. Begin your tracking of indices from here. Apart from this you will also have to be regular with reading the business reports. There is much work for you to do before you put your money in metals futures.
Because trading requires one to take out a considerable amount of time for studying and analyzing, and because a lot of people have everything but time, there are traders and brokers. We at Cannon Trading can assist you with trading. If you want to trade yourself, we give you the advice. In short, we are there to help you with whatever you have got. Here we have a category archive that lists some informative blogs on metal futures and trading. Go through these valuable posts to increase your knowledge of metal futures.
Oil Slumps on OPEC Demand Downgrade, Metals Rally as Fed Rate Cut Hopes Grow
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Weekly Newsletter: Learn about Tick Size, Copper System, Sugar Chart + Trading Levels for Sept. 23rd
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Cannon Futures Weekly Letter Issue # 1209
In this issue:
- Important Notices – Heavy Fed Speaking, Active Data, Few Earnings
- Futures 101 – Tick Size & Minimum Fluctuations
- Hot Market of the Week – March Sugar
- Broker’s Trading System of the Week – Copper Swing Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices – Next Week Highlights:
The Week Ahead
Heavy Fed Speak Week, active data and a few earnings highlight the week ahead.
Light Earnings, by largest Market Cap
- Wed, Micron Technologies After the close
- Thursday, Accenture pre-open, Costco after the close
Fed Speak schedule
- Mon. Goolsbee 9:15am CDT, Kashkari Noon CDT
- Tues. Bowman 8:00am CDT
- Wed. Kugler 3:00pm CDT
- Thu. Collins 8:10amCDT, Powell 8:20am CDT, Williams 8:25 CDT, Treasury Sec. Yellen 10:15am CDT
Big Economic Data week:
- Mon. S&P PMI Flash
- Tues. Case-Shiller Home prices, CB Consumer Confidence, Redbook, Richmond Fed.
- Wed. Building Permits, New Home Sales
- Thur. Jobless Claims, Core PCE Final, GDP Final, Durable goods, Pending Home sales
- Fri. Personal Income, Retail and Wholesale Inventories, Michigan consumer sentiment
How to Rollover on the E-Futures Platform video below
-
Futures 101: Tick Movements: Understanding How They Work
Minimum Price Fluctuation
All futures contracts have a minimum price fluctuation also known as a tick. Tick sizes are set by the exchange and vary by contract instrument.
E-min S&P 500 tick
For example, the tick size of an E-Mini S&P 500 Futures Contract is equal to one quarter of an index point. Since an index point is valued at $50 for the E-Mini S&P 500, a movement of one tick would be
.25 x $50 = $12.50
NYMEX WTI Crude Oil
The tick size of the NYMEX WTI Crude Oil contract is equal to 1 cent and the WTI contract size is 1,000 barrels. Therefore, the value of a one tick move is $10.
Summary
Tick sizes are defined by the exchange and vary depending on the size of the financial instrument and requirements of the marketplace. Tick sizes are set to provide optimal liquidity and tight bid-ask spreads.
The minimum price fluctuation for any CME Group contract can be found on the product specification pages.
-
- Hot Market of the Week – December Gold
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.
March 2025 Sugar
March sugar has shifted its formation back to the topisde and activated upside PriceCount objectives in the process. The chart accelerated to its first upside count to the 21.85 area. It would be normal to get a near term reaction form theis level in the form of a consolidation or corrective trdae. IF you can sustain further strength, the second count projects a possible run to the 23.26 area.
PriceCounts – Not about where we’ve been, but where we might be going next!
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.
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
Balance Cont. v.22
PRODUCT
HG – Copper
SYSTEM TYPE
Day Trading
Recommended Cannon Trading Starting Capital
$25,000.00
COST
USD 150 / monthly
The performance shown above is hypothetical in that the chart represents 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 back adjusted data. Please read full disclaimer HERE.
Daily Levels for September 23rd 2024
Trading Reports for Next Week
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.
Explore trading methods. Register Here
* 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 here in 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 judgement in trading.
Markets Post CPI + Levels for April 11th
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Life After CPI …..
by Mark O’Brien, Senior Broker
General:
It’s been ten months since the central bank paused its rate hike cycle. It seems as though Jay Powell’s motto throughout his entire tenure as chairman of the Fed has been, “The data will guide our decisions,” and today the Bureau of Labor Statistics released another chunk of data: its March Consumer Price Index (CPI) report, which measures the prices paid by consumers for a basket of consumer goods and services. The consumer-price index rose 0.4% in March and 3.5% on an annual basis. Economists had expected 0.3% and 3.4%. Core CPI, which removes the volatile food and energy categories, was up 0.4% from February, topping an expected 0.3%. Now, after strong prints in January and February, are these new readings stronger evidence of a “sticky” inflation situation?
At their March meeting, according to its minutes released later this morning, Federal Reserve officials expressed concern that inflation wasn’t moving lower quickly enough. The CPI report likely didn’t moderate those concerns and the timing for the first long-anticipated rate cut has presumably drifted further out on the calendar.
Energies:
Speaking of inflation, the first three months of 2024 saw crude oil jump ±$17 per barrel – a ±$17,000 move for the main 1,000-barrel futures contract – with the front-month May contract trading to the year’s high of $87.63 intraday just last Friday.
Softs:
After a one-day 321-point/$3,210 move up on March 12 to close above $7,000/ton – its latest all-time high – May cocoa continued its “no top in sight,” rally, closing today at $10,476/ton, a staggering ±$34,700 per contract move in twenty trading sessions.
Metals:
While cocoa retained its “king of the all-time highs” crown for the month, gold did not disappoint bulls in this market, setting its own new all-time high yesterday, trading up to $2,384.50/oz. intraday (basis the June futures contract). This is a $199.00/oz. move ($19,900 per contract for the standard 100-oz. futures contract) over the same 20-sesson span as the move in cocoa referenced above.
Grains:
Keep an eye out for tomorrow’s U.S. Department of Agriculture’s two main reports: its monthly Crop Production and World Agricultural Supply and Demand Estimates (WASDE). These serve as the primary informers of the fundamentals underlying domestic and global agricultural futures markets.
Daily Levels for April 11th, 2024
Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.
Explore trading methods. Register Here
* 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 here in 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 judgement in trading.
Choppy Markets Today, (Tomorrow?) Ahead of CPI + Futures Trading Levels for 04.09.2024
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Markets Heat up MidWeek
by John Thorpe, Senior Broker
CPI Report Wednesday
The CPI report for March 2024 will be released by the Bureau of Labor Statistics on Monday at 7:30 a.m. CDT. As of February’s CPI report, annual inflation is 3.2%, or 3.8% excluding food and energy. That data compares with the FOMC’s annual inflation target of 2%.
What To Expect
These data set move the Equity, Bond, Metals and currency markets the most as the market drivers are directly related to what the FED will do next with Interest rates this summer. Provided inflation comes at a monthly rate close to 0.3% or lower for March, that should be sufficient for the FOMC to keep its plan to start cutting interest rates this summer. If the report shows a 0.4% monthly increase or greater, that would be a concern. It would suggest relatively high inflation readings seen in January, and to a lesser extent in February, are perhaps more of a trend. Here is your BLS CPI Data center https://www.bls.gov/cpi/
Monthly inflation at or below 0.2% would generally be considered positive news, perhaps giving more conviction to rate cutting plans. Still the CPI release is just one data point that the Fed will use to assess how inflation is trending. The FOMC will also keep a close eye on the jobs market, which so far has been strong enough to enable the Fed to be patient in considering interest rate cuts. A slowdown in job growth might matter for the Fed’s plans as much as upcoming inflation data releases.
Daily Levels for April 9th, 2024
Economic Reports
provided by: ForexFactory.com
All times are Eastern Time ( New York)
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.
Explore trading methods. Register Here
* 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 here in 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 judgement in trading.
Weekly Newsletter: Notional Value, May Copper Outlook & Trading Levels for April 8th
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Cannon Futures Weekly Letter Issue # 1188
In this issue:
- Important Notices – Earnings Season Starts April 12th
- Trading Resource of the Week – About Contract Notional Value
- Hot Market of the Week – May Copper
- Broker’s Trading System of the Week – RBOB Swing System
- Trading Levels for Next Week
- Trading Reports for Next Week
Important Notices –
- Market Moving Data Wed. /Thur. CPI and PPI respectively , w/Jobless Claims Thur. as well
- 1 Fed discussion RE: new BASEL lll requirements Wed. AM (raises min. Cap Req from 2% to 4.5% for all banks)
- AG WASDE Thur.
- Q1 Earnings Season Begins Fri. the 12th Bank Earnings, JPM, C, WFC, BLK all report on this day.
Trading Resource of the Week : About Contract Notional Value by CMEgroup.com
Contract Unit
The contract unit is a standardized size unique to each futures contract and can be based on volume, weight, or a financial measurement, depending on the contract and the underlying product or market.
For example, a single COMEX Gold contract unit (GC) is 100 troy ounces, which is measured by weight.
A NYMEX WTI Crude Oil contract unit (CL) is 1,000 barrels of oil, measured by volume.
The E-mini S&P 500 contract unit (ES) is a financial calculation based on a fixed multiplier times the S&P 500 Index.
Contract Notional Value
Contract notional value, also known as contract value, is the financial expression of the contract unit and the current futures contract price.
Determining Notional Value
Assume a Gold futures contract is trading at price of $1,000. The notional value of the contract is calculated by multiplying the contract unit by the futures price.
Contract unit x contract price = notional value
100 (troy ounces) x $1,000 = $100,000
If WTI Crude Oil is trading at $50 dollars and the contract unit is 1000 barrels, the notional would be;
$50 x 1,000 = $50,000
Now assume E-mini S&P 500 futures are trading at 2120.00. The multiplier for this contract is $50.
$50 x 2120.00 = $106,000
- Hot Market of the Week – May Copper
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.
May Copper
May copper is completing its third upside PriceCount objective that is consistent with a challenge of the contract high. It would be normal to get a reaction in the form of a near term consolidation or corrective trade, at least, from this level. From here, IF the chart can sustain further gains, we are left with the low percentage fourth upside count to the 4.94 area to aim for (not shown here for presentation purposes).
PriceCounts – Not about where we’ve been , but where we might be going next!
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.
-
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Swing
COST
USD 160 / monthly
Recommended Cannon Trading Starting Capital
$25,000
The performance shown above is hypothetical in that the chart represents 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 back adjusted data. Please read full disclaimer HERE.
Daily Levels for April 8th 2024
Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week:
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker at 1-800-454-9572.
Explore trading methods. Register Here
* 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 here in 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 judgement in trading.
What is a Troy Ounce? +Futures Trading Levels for 12.28.23
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As has been the case in prior years, this week we’re seeing reduced daily trade volume across the futures markets. Adding to this environment, Last Trading Day for Jan. ’24 Natural gas is tomorrow the 27th, and both First Notice Day for January ‘24 CBOT soy complex futures and Last Trading Day for January ‘24 RBOB gasoline and ULSD Heating oil is this Friday the 29th.
Both natural gas and crude oil numbers are out tomorrow due to the short trading week.
Just what is a Troy ounce, anyway? For those trading precious metals futures like gold, silver, platinum and palladium, it’s the unit of weight by which those physical products are measured.
Turns out, a small town about 110 miles southeast of Paris and situated within the Champagne wine region was major intersection for parts of the Roman-era trade highways and then an important international trading hub during the Middle Ages (± 500 AD to 1500). The town’s name: Troyes (pronounced: troy). Right around the 12th and 13th centuries – call it the middle of the Middle Ages – an annual cycle of 2- to 3-week trade fairs flourished in the region and it was likely then that the unit of weight was standardized and first used. It essentially beat out other systems of weight developed in other parts of Europe and eventually it was made the official weight for gold and silver by England in 1824, called the British Imperial system. Four years later, the United States adopted it as an official weight standard for United States coinage. And today, your precious metals are still measured using this system.
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 when it comes to Futures Trading.
Futures Trading Levels
12-28-2023
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker
1-800-454-9572 Explore trading methods. Register Here
Economic Reports,
Source:
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 here in 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 judgement in trading.
Weekly Newsletter: Text Alerts, Silver Daily Chart + Futures Trading Levels for Dec. 4th
Cannon Futures Weekly Newsletter Issue # 1173
Join our private Facebook group for additional insight into trading and the futures markets!
In this issue:
- Important Notices – Trade March bonds, Feb. gold
- Trading Resource of the Week – Trade Alerts
- Hot Market of the Week – March Silver
- Broker’s Trading System of the Week – CL (Crude) Day Trading System
- Trading Levels for Next Week
- Trading Reports for Next Week
-
Important Notices
- Federal Reserve Board Black Out Period Dec 2-14
- March (H24) Interest rate products, ZB, UB,ZN,ZF,ZT. are now front month
- Front month for gold is February
- March (H24) front month for silver
- Earnings watch, Tuesday 12-5 Toll Brothers Builders NYSE (TOL), Thursday 12-7 chipmaker Broadcom NYSE (AVCO)
- Reports a variety, Main Focus Friday, NFP 6:30am, WASDE 10am and 1st day of Hanukkah all times CST
- click above for a LIVE demo, streaming prices
-
Trading Resource of the Week
Real Time Text Alerts
Directly to your Phone!
- You will receive a text and email each time there is an entry or exit in a simple language along with the current price for that specific market.
- A licensed series 3 broker at your fingertips
- Text alerts available to US and Canada residents. Int’l clients will receive the alerts via email. No obligation
- Alerts available for: Stock Indices, Grains, Metals, Rates, Currencies and Meats
- Open an account* and receive the Trade Alerts free for 3 months ($357 value)
.
-
Hot Market of the Week – March Silver
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.
March Silver stabilized its break last month and activated upside PriceCount objectives on the correction higher. Now, the chart is taking aim at its first upside target in the 26.41 area.
PriceCounts – Not about where we’ve been , but where we might be going next!
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.
-
Broker’s Trading System of the Week
With algorithmic trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker’s choice for this month.
PRODUCT
SYSTEM TYPE
Intraday
Recommended Cannon Trading Starting Capital
$15,000.00
COST
USD 115 / monthly
The performance shown above is hypothetical in that the chart represents 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 back adjusted data. Please read full disclaimer HERE.
Sign Up for a Free Personalized Consultation with a Broker from Cannon Trading Company
Questions about the markets? trading? platforms? technology? trading systems? Get answers with a complimentary, confidential consultation with a Cannon Trading Company series 3 broker.
-
Trading Levels for Next Week
Daily Levels for December 4th, 2023
Trading Reports for Next Week
First Notice (FN), Last trading (LT) Days for the Week: www.mrci.com
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.
Good Trading!
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.
Futures Trading Levels for December 1st
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Tomorrow is the first trading day for December. Last and first trading days of the months can at times be more volatile and at times have a chance to become a trending day.
ISM and Fed’s Powell speaking are the highlights on the reports side.
Trader’s Check List:
· Review prior day statement
· Check for any working orders on your platforms.
· Be aware of contract rollover dates
· Set a daily loss limit and learn NOT to overtrade
· Understand what reports are coming out today
· Make sure you are not distracted
· Calculate appropriate trading size based on current volatility and account size
· Start with Larger Time Frame charts to get proper perspective
· Understand what your goal is
· Measure your success or lack of
· Spend time furthering your trading education and exploring different methods
· Put trading in perspective and make sure the overall psychology of trading fits you.
Plan your trade and trade your plan.
Download your FREE copy of Order Flow Essentials!
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 when it comes to Futures Trading.
Futures Trading Levels
12-1-2023
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker
1-800-454-9572 Explore trading methods. Register Here
Economic Reports,
Source:
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 here in 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 judgement in trading.
Core PCE Tomorrow + Futures Trading Levels for Nov. 30th
Get Real Time updates and more on our private FB group!
Updates and Bullet Points:
By Mark O’Brien, Senior Broker
General:
While the Federal Reserve and its main voice Jerome Powell have been steadfast in declaring that interest rates would not be coming down unless the FOMC saw broad definitive proof that inflation was falling, traders have been pricing in that eventuality since the end of October. In just the last three weeks, the E-mini S&P 500 climbed out of correction territory and the yield on the 10-year T-note slid from the 5.00% it touched prior to the last Fed meeting down to 4.30% overnight. Never mind the CME Fed watch tool pegs the potential for a 25-basis points rate cut at the Fed’s December 13th meeting at a slim 1.1% and at 3.1% at their January 31st meeting. What likely has traders’ attention: the Fed Funds futures contract sees the probability of a 25-basis point cut at the March 20th Fed meeting at 40.6%. Don’t count on to begin to telegraph any sort of pivot until the Fed deems any signs of slowing growth as entrenched and that should take some time. The Fed will turn a cold shoulder to making quick moves as they do not want to reignite the inflation fire before it is extinguished.
Currency:
As the conversation shifts from rate hikes to cuts, the U.S. dollar is on track to hit its lowest level in months.
Metals:
In the scenario that the dollar and treasury yields continue to fall, look for precious metals like gold and silver to continue their ascent. Gold has already climbed over $200 per ounce in less than two months, from its October 5th close at $1850.80 / ounce to its second day closing above $2050 / ounce yesterday and today (basis February) – a ±$20,000 per contract move for the standard 100-oz. futures contract.
Plan your trade and trade your plan.
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 when it comes to Futures Trading.
Futures Trading Levels
11-30-2023
Improve Your Trading Skills
Get access to proprietary indicators and trading methods, consult with an experienced broker
1-800-454-9572 Explore trading methods. Register Here
Economic Reports, Source:
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 here in 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 judgement in trading.
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