{"id":19670,"date":"2024-04-10T12:21:38","date_gmt":"2024-04-10T20:21:38","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19670"},"modified":"2024-04-10T12:21:38","modified_gmt":"2024-04-10T20:21:38","slug":"markets-post-cpi-levels-for-april-11th","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/markets-post-cpi-levels-for-april-11th\/","title":{"rendered":"Markets Post CPI + Levels for April 11th"},"content":{"rendered":"
Get Real Time updates and more by joining our Private Facebook Group<\/a>!<\/span><\/div>\n
Subscribe to our\u00a0YouTube Channel<\/a><\/span><\/div>\n
\n

 <\/p>\n

\"\"<\/p>\n

 <\/p>\n

Life After CPI …..<\/h1>\n

by Mark O’Brien, Senior Broker<\/p>\n

General:<\/strong><\/p>\n

 <\/p>\n

It\u2019s been ten months since the central bank paused its rate hike cycle.\u00a0 It seems as though Jay Powell\u2019s 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.\u00a0 The consumer-price index rose 0.4% in March and 3.5% on an annual basis.\u00a0 Economists had expected 0.3% and 3.4%.\u00a0 Core CPI, which removes the volatile food and energy categories, was up 0.4% from February, topping an expected 0.3%.\u00a0 Now, after strong prints in January and February, are these new readings stronger evidence of a \u201csticky\u201d inflation situation?<\/p>\n

 <\/p>\n

At their March meeting, according to its minutes released later this morning, Federal Reserve officials expressed concern that inflation wasn\u2019t moving lower quickly enough.\u00a0 The CPI report likely didn\u2019t moderate those concerns and the timing for the first long-anticipated rate cut has presumably drifted further out on the calendar.<\/p>\n

 <\/p>\n

Energies:\u00a0<\/strong><\/p>\n

 <\/p>\n

Speaking of inflation, the first three months of 2024 saw crude oil<\/a> jump \u00b1$17 per barrel \u2013 a \u00b1$17,000 move for the main 1,000-barrel futures contract \u2013 with the front-month May contract trading to the year\u2019s high of $87.63 intraday just last Friday.<\/p>\n

 <\/p>\n

Softs:\u00a0<\/strong><\/p>\n

 <\/p>\n

After a one-day 321-point\/$3,210 move up on March 12 to close above $7,000\/ton \u2013 its latest all-time high \u2013 May cocoa<\/a> continued its \u201cno top in sight,\u201d rally, closing today at $10,476\/ton, a staggering \u00b1$34,700 per contract move in twenty trading sessions.<\/p>\n

 <\/p>\n

Metals:\u202f\u00a0<\/strong><\/p>\n

 <\/p>\n

While cocoa retained its \u201cking of the all-time highs\u201d crown for the month, gold<\/a> 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).\u00a0 This is a $199.00\/oz. move ($19,900 per contract for the standard 100-oz. futures contract)\u202fover the same 20-sesson span as the move in cocoa referenced above.<\/p>\n

 <\/p>\n

Grains:\u00a0<\/strong><\/p>\n

 <\/p>\n

Keep an eye out for tomorrow\u2019s U.S. Department of Agriculture\u2019s 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.<\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n

\"\"<\/a><\/p>\n

\"\"<\/a><\/p>\n

\"\"<\/p>\n

Daily Levels for April 11th, 2024<\/h3>\n

\"\"<\/p>\n

\"\"<\/a><\/p>\n

Economic Reports<\/strong><\/div>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/div>\n
All times are Eastern Time ( New York)<\/div>\n
<\/div>\n
\"\"<\/div>\n
<\/div>\n
<\/div>\n
\n

Improve Your Trading Skills<\/h2>\n

Get access to proprietary indicators and trading methods,\u00a0consult with an experienced broker<\/a> at 1-800-454-9572.<\/p>\n

Explore trading methods.\u00a0Register Here<\/a><\/p>\n

\"\"<\/a><\/span><\/div>\n

* This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon 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.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel     Life After CPI ….. by Mark O’Brien, Senior Broker General:   It\u2019s been ten months since the central bank paused its rate hike cycle.\u00a0 It seems as though Jay Powell\u2019s motto throughout his entire tenure as chairman […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[67,231,76,119,230,237,30,61,236],"tags":[],"class_list":["post-19670","post","type-post","status-publish","format-standard","hentry","category-future-trading-news","category-commodity-brokers-2","category-commodity-trading-2","category-crude-oil","category-day-trading-2","category-energy-futures","category-futures-broker-2","category-futures-trading-2","category-metal-futures"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19670","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=19670"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19670\/revisions"}],"predecessor-version":[{"id":19671,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19670\/revisions\/19671"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}