{"id":19930,"date":"2024-07-09T12:19:32","date_gmt":"2024-07-09T20:19:32","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19930"},"modified":"2024-07-09T12:19:32","modified_gmt":"2024-07-09T20:19:32","slug":"powell-testimony-cpi-and-ppi-insights-market-volatility-and-economic-expectations","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/powell-testimony-cpi-and-ppi-insights-market-volatility-and-economic-expectations\/","title":{"rendered":"Powell Testimony, CPI and PPI Insights: Market Volatility and Economic Expectations"},"content":{"rendered":"
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Powell Testimony, CPI and PPI.<\/h3>\n

By John Thorpe, Senior Broker<\/p>\n

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With a 20 point swing in the ES and a 155 point range in the NQ today and In lieu of the fact we have two days of Humphrey Hawkins testimony in both chambers of the house this week, I have always wondered what he Effects of the Federal Reserve Chair\u2019s Testimony on Interest Rates and Stock Prices have been historically.<\/p>\n

From the Cleveland Fed, I found a scholarly paper Dated 2023, for the numbers nerds among us, that attempts to, through past data sets, assign volatility to price changes in Long term and short term Treasuries and the S & P 500 index, during and after the testimony.\u00a0Here are some links I hope some of you will enjoy. The Effects of the Federal Reserve Chair\u2019s Testimony on Interest Rates and Stock Prices\u00a0\u00a0\u00a0wp2326 (4).pdf<\/a>\u00a0\u00a0https:\/\/www.clevelendfed.org>working-papers<\/a>.<\/p>\n

If you opt not to read the document,\u00a0here is a quick synopsis of their conclusions: Day 1 causes the largest price movements compared to day 2.\u00a0They go on to talk about\u00a0the differences in the types of testimony\u00a0and their findings on price volatility associated with that testimony.\u00a0Be prepared for the next Humphey -Hawkins, Semi-annual testimony!<\/p>\n

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What are the US CPI Report Expectations? Traders and economists expect the US CPI report to fall to 3.1% y\/y on a headline basis, with the \u201cCore\u201d (ex-food and -energy) reading expected to hold steady at 3.4% y\/y.<\/p>\n

What are the US PPI Report Expectations?\u00a0Producer prices in June are expected to rise 0.1 percent on the month versus an unexpected 0.2 percent decline in May. The annual rate in June is seen at 2.3 percent versus May’s 2.2 percent. June’s ex-food ex-energy rate is seen up 0.2 percent on the month versus no change in the prior month.<\/p>\n

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Daily Levels for July 10th, 2024<\/h3>\n

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* 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 Listen to our Market Recap Podcasts on Apple Podcasts     Powell Testimony, CPI and PPI. By John Thorpe, Senior Broker     With a 20 point swing in the ES and a 155 point range in the NQ […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19930","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19930","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=19930"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19930\/revisions"}],"predecessor-version":[{"id":19932,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19930\/revisions\/19932"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19930"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19930"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19930"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}