Posted By: Ilan Levy-Mayer Vice President, Cannon Trading Futures Blog
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FOMC is behind us once again….and The French election is ahead this weekend and non farm payroll Report is tomorrow (Friday morning).
The French election takes place while markets are closed on the weekend and we may see some large GAP moves on Sunday night as well as extreme volatility Sunday night and into the rest of the week.
Due to the French Presidential vote, Cannon will be monitoring and increasing margin requirements ahead of the pending vote. Please be advised that we are decreasing leverage to 1:1 on most platforms (trading software) meaning full overnight margin requirements in affected markets including, but not limited to, currencies, precious metals, equities and energies.
Please make sure to contact your broker with ANY questions about margins specifically and in general and to find out if this affects your account/ trading platform.
|Friday, May 5th
US April Non-Farm Payroll Report
|Friday 08:30 EST /12:30GMT
(US) Apr Change in Non-farm Payrolls
|What the News Desk Says
The April employment report is expected to show a rebound back to trend after a disappointing March non-farm payroll figure. The April NFP is expected at over 190 thousand, and there may be revisions last month’s 98 thousand figure. Unemployment is expected to tick back up to 4.6% after dipping to a 10-year low 4.5% in March.
If the NFP bounces back as expected, it could lend evidence to the belief that the weakness of Q1 data was due to seasonality and that the rest of the year should see better numbers. That would keep the Fed on track for a June rate hike, and possibly more aggressive normalization later in the year…. more
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
|Contract June 2017||SP500||Nasdaq100||Dow Jones||Mini Russell||Dollar Index|
|Contract||June Gold||May Silver||June Crude Oil||June Bonds||June Euro|
|Resistance 3||1254.1||17.00||49.47||153 27/32||1.1155|
|Resistance 2||1247.9||16.82||48.61||153 7/32||1.1081|
|Resistance 1||1238.1||16.57||47.01||152 18/32||1.1044|
|Support 1||1222.1||16.14||44.55||151 9/32||1.0934|
|Support 2||1215.9||15.96||43.69||150 21/32||1.0860|
|Contract||July Corn||July Wheat||July Beans||July SoyMeal||July Nat Gas|
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.