{"id":18902,"date":"2023-09-07T06:34:52","date_gmt":"2023-09-07T14:34:52","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=18902"},"modified":"2023-09-07T06:34:52","modified_gmt":"2023-09-07T14:34:52","slug":"what-you-need-to-know-if-you-are-trading-futures-on-sept-7th-2023","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/what-you-need-to-know-if-you-are-trading-futures-on-sept-7th-2023\/","title":{"rendered":"What You Need to Know if you are Trading Futures on Sept. 7th 2023"},"content":{"rendered":"
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What you need to know before trading futures tomorrow – September 7th 2023\u00a0,<\/p>\n

by Mark O’Brien, Senior Broker<\/p>\n

General:<\/p>\n

We\u2019re a couple of weeks away from the next meeting of the Federal Reserve when Fed. chair Jerome Powell and fellow board members will determine where the Federal Funds Rate \u2013 the central bank\u2019s key borrowing rate \u2013 should be set.<\/p>\n

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After raising rates eleven consecutive times ending in May, then holding off in June, the Central Bank raised interest rates by 25 basis points in July setting the borrowing rate at a range of 5.25% to 5.50% – the highest level at which Fed Funds have been set since 2001.<\/p>\n

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How does that compare to other countries\u2019 central bank moves.\u00a0 Here\u2019s a table showing the moves made over the last two years by nine others compared to the United States\u2019.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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General, cont.<\/p>\n

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Keep an eye out for markets trading near multi-month or multi-year extremes for the future price moves.<\/p>\n

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\u2192\u00a0 At \u00b127 cents \/ pound\u00a0sugar\u00a0(March) is trading near 11-year highs.<\/p>\n

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\u2192\u00a0 At \u00b1$3,650 \/ ton\u00a0cocoa\u00a0(Dec.) is trading near 12-year highs.<\/p>\n

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\u2192\u00a0 Trading below $1.50 \/ lb.\u00a0coffee\u00a0is trading near 2-year lows.<\/p>\n

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\u2192\u00a0 Almost this entire calendar year,\u00a0natural gas\u00a0has been floating between 2.50 and 2.00 \/ million BTU\u2019s just above all-time lows below $2.00 posted in June 2020.<\/p>\n

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Energy:<\/p>\n

Prospects of the U.S. economy avoiding a hard recession have helped lift oil demand and prices in recent months.\u00a0 Then traders took in last week\u2019s report that voluntary cuts to world crude oil supplies by Russia and Saudi Arabia would be extended from September to year\u2019s end \u2013 with the pronouncement that other OPEC+ countries may follow suit.\u00a0 That sent crude oil futures prices on a renewed upward pace with the October contract breaching $88.00 per barrel intraday yesterday and today- hitting 10-month highs.\u00a0 Alongside the West Texas Intermediate contract, Nov. Brent Crude oil futures traded on ICE Europe topped $90.00 per barrel.<\/p>\n

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Heads up:<\/p>\n

Crude oil numbers are OUT tomorrow, 11 Am Eastern time.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Plan your trade and trade your plan<\/a><\/p>\n<\/div>\n

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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.\u00a0 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.<\/p>\n

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Futures Trading Levels<\/strong><\/h3>\n

09-07-2023<\/p>\n

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Improve Your Trading Skills<\/h2>\n
Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a><\/div>\n
\u00a01-800-454-9572\u00a0Explore trading methods.\u00a0Register Here<\/a><\/div>\n


\n<\/a>Economic Reports, Source:\u00a0<\/strong><\/h3>\n

Forexfactory.com<\/a><\/p>\n

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This is not a solicitation of any order to buy or sell, but a current market view provided by\u00a0Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, 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\u00a0judgement\u00a0in trading.<\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more on our private FB group! https:\/\/business.facebook.com\/groups\/1105191589938254\/ What you need to know before trading futures tomorrow – September 7th 2023\u00a0, by Mark O’Brien, Senior Broker General: We\u2019re a couple of weeks away from the next meeting of the Federal Reserve when Fed. chair Jerome Powell and fellow board members will […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,231,76,1522,119,230,237,61],"tags":[1481,1480,1475,1471,1469,1467,1468,1474,1472,1477,1478,1476,1479,1470,1473,1172,1239,40,627,1277,36],"class_list":["post-18902","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-commodity-brokers-2","category-commodity-trading-2","category-corn-futures","category-crude-oil","category-day-trading-2","category-energy-futures","category-futures-trading-2","tag-cbot","tag-comex","tag-commoditiesmarket","tag-commoditiestrader","tag-commoditytrading","tag-crudeoil","tag-daytrader","tag-futuresmarket","tag-futurestrader","tag-kcbt","tag-mgex","tag-nymex","tag-smfe","tag-stockindices","tag-swingtrader","tag-cme","tag-commodities","tag-daytrading","tag-futures","tag-globex","tag-gold"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18902","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=18902"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18902\/revisions"}],"predecessor-version":[{"id":18905,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/18902\/revisions\/18905"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=18902"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=18902"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=18902"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}