Cross Currents to Fuel Volatility Higher & Support and Resistance Levels 3.01.2022
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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Cross Currents to Fuel Volatility Even Higher
By John Thorpe, Senior Broker
It’s clear the market has been reacting to the minute by minute changes from the international communities responses to the Russian Invasion into another sovereign country. These currents have been pushing markets violently the past week and are expected to continue to do so for days and weeks to come. However , we can’t lose sight of 3 very important domestic issues that could have far reaching global impacts as well. Here in the U.S. , on Tuesday night President Joe Biden is scheduled to give his first “State of the Union” address to the American citizens and world. Without a doubt, the futures markets will be reacting during our evening session Tuesday night March 1st 9:00 P.M. EST. Wednesday Morning 10:00 A.M. ending Thursday afternoon, Fed Chair Jerome Powell presents his report—called the Monetary Policy Report—that is submitted semiannually to the Senate Committee on Banking, Housing, and Urban
Affairs and to the House Committee on Financial Services, along with
testimony from the Federal Reserve Board Chair., this will be the first time Fed Chair will be answering questions directly related to the Russia/Ukraine conflict since the conflict began.
On Friday Morning at 8;30 a.m. EST the most watched labor department number is released: Nonfarm Payrolls (NFP) also known as the Employment situation report. Here are this months expectations from Econoday.com
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