FOMC Interest Rate Decision & Futures Economic Levels 5.01.2014
Posted By:- Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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1. Market Commentary
2. Futures Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Commodities Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Commodities Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Futures Economic Reports for Thursday May 1, 2014
Hello Traders,
For 2014 I would like to wish all of you discipline and patience in your trading!
The FOMC interest rate decision is behind us and so is April. This was one of the LESS volatile FOMC announcements.
Hope everyone will enjoy a great trading month in May!
We still have monthly unemployment this Friday and just for visual, below is the weekly Dow Jones Cash chart, flirting with all time highs…….
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GOOD TRADING
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| Contract June 2014 | SP500 (big & Mini) | Nasdaq100 (big & Mini) | Dow Jones (big & Mini) | Mini Russell | Dollar Index |
| Resistance 3 | 1896.50 | 3627.08 | 16642 | 1151.87 | 80.40 |
| Resistance 2 | 1888.00 | 3602.42 | 16584 | 1138.13 | 80.21 |
| Resistance 1 | 1883.25 | 3588.33 | 16549 | 1131.07 | 79.89 |
| Pivot | 1874.75 | 3563.67 | 16491 | 1117.33 | 79.70 |
| Support 1 | 1870.00 | 3549.58 | 16456 | 1110.27 | 79.38 |
| Support 2 | 1861.50 | 3524.92 | 16398 | 1096.53 | 79.19 |
| Support 3 | 1856.75 | 3510.83 | 16363 | 1089.47 | 78.87 |
| Contract | June Gold | July Silver | June Crude Oil | June Bonds | June Euro |
| Resistance 3 | 1310.9 | 1990.7 | 102.06 | 136 6/32 | 1.4019 |
| Resistance 2 | 1304.6 | 1970.8 | 101.41 | 135 18/32 | 1.3948 |
| Resistance 1 | 1297.4 | 1945.7 | 100.65 | 135 7/32 | 1.3910 |
| Pivot | 1291.1 | 1925.8 | 100.00 | 134 19/32 | 1.3839 |
| Support 1 | 1283.9 | 1900.7 | 99.24 | 134 8/32 | 1.3801 |
| Support 2 | 1277.6 | 1880.8 | 98.59 | 133 20/32 | 1.3730 |
| Support 3 | 1270.4 | 1855.7 | 97.83 | 133 9/32 | 1.3692 |
| Contract | July Corn | July Wheat | July Beans | July SoyMeal | July bean Oil |
| Resistance 3 | 525.1 | 730.3 | 1528.17 | 500.70 | 42.87 |
| Resistance 2 | 522.2 | 726.5 | 1520.58 | 497.50 | 42.62 |
| Resistance 1 | 520.6 | 724.0 | 1516.67 | 495.60 | 42.36 |
| Pivot | 517.7 | 720.3 | 1509.08 | 492.40 | 42.11 |
| Support 1 | 516.1 | 717.8 | 1505.2 | 490.5 | 41.9 |
| Support 2 | 513.2 | 714.0 | 1497.58 | 487.30 | 41.60 |
| Support 3 | 511.6 | 711.5 | 1493.67 | 485.40 | 41.34 |
source:http://www.forexfactory.com/calendar.php
All times are Eastern time Zone (EST)
| Date | 4:04pm | Currency | Impact | Detail | Actual | Forecast | Previous | Graph | |
|---|---|---|---|---|---|---|---|---|---|
| ThuMay 1 | All Day | EUR | French Bank Holiday | ||||||
| All Day | EUR | German Bank Holiday | |||||||
| All Day | EUR | Italian Bank Holiday | |||||||
| 7:30am | USD | Challenger Job Cuts y/y | -30.2% | ||||||
| 8:30am | USD | Fed Chair Yellen Speaks | |||||||
| USD | Unemployment Claims | 317K | 329K | ||||||
| USD | Core PCE Price Index m/m | 0.1% | 0.1% | ||||||
| USD | Personal Spending m/m | 0.7% | 0.3% | ||||||
| USD | Personal Income m/m | 0.4% | 0.3% | ||||||
| 9:00am | USD | Final Manufacturing PMI | 55.8 | 55.4 | |||||
| 10:00am | USD | ISM Manufacturing PMI | 54.3 | 53.7 | |||||
| USD | Construction Spending m/m | 0.5% | 0.1% | ||||||
| USD | ISM Manufacturing Prices | 59.4 | 59.0 | ||||||
| 10:30am | USD | Natural Gas Storage | 75B | 49B | |||||
| All Day | USD | Total Vehicle Sales | 16.2M | 16.4M |
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 judgment in trading.
