{"id":20694,"date":"2024-12-10T13:46:49","date_gmt":"2024-12-10T21:46:49","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20694"},"modified":"2024-12-10T13:46:49","modified_gmt":"2024-12-10T21:46:49","slug":"movers-and-shakers-cpi-on-deck-opec-leadership-and-commodity-surges","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-cpi-on-deck-opec-leadership-and-commodity-surges\/","title":{"rendered":"Movers and Shakers: CPI on Deck, OPEC Leadership, and Commodity Surges"},"content":{"rendered":"\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend!<\/p>\n

Join our\u00a0Private Facebook group<\/a><\/p>\n

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Listen to our podcast: Subscribe on\u00a0Apple<\/a>,\u00a0Spotif<\/a>y,\u00a0Amazon<\/a>,\u00a0or wherever you listen to podcasts!<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Movers and shakers!<\/h3>\n

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

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Equities prices were mostly flat as traders are anticipating tomorrow mornings CPI release at 7:30 CT.<\/p>\n

Iran\u2019s oil minister has been elected as OPEC President for 2025, Crude prices are holding steady in the 68.25 \/ bbl area<\/p>\n

\u2026as Gold surged again in the face of some dollar weakness.<\/p>\n

Supply concerns are affecting Cocoa prices as the mid year West African cocoa crop outlook has deteriorated (April) as dry conditions will hurt the early development of the crop.\u00a0ICE-monitored cocoa inventories held in US ports have been trending lower for the past 1-1\/2 years and fell to a 20-year low Monday of 1,487,243 bags. Also, 23\/24 stocks to Grindings report reflect a 46-low. March Cocoa was up 476\u00a0or $4760.00 per contract to close at 10557 basis the march contract.<\/p>\n

Monthly WASDE was released today, here is a quick synopsis: World Corn carryout was much smaller than previously reported. 296.44 mmt vs 304.14 mmt\u00a0providing continued bullish sentiment from the August lows. March 25 Corn surged 7 and \u00bc cents.<\/p>\n

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Watch Tomorrow\u2019s Movers and Shakers:<\/p>\n

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CPI Consumer Price Index @ 7:30 am CDT.<\/p>\n

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Consensus Outlook<\/p>\n

How we wish the inflation numbers were improving! Forecasters expect headline CPI to show increases of 0.3 percent on the month and 2.7 percent on the year for November versus 0.2 percent and 2.6 percent in October. The core is expected at a sticky 0.3 percent and 3.3 percent on the year, the same as in October and September. With readings like this, the expectation for the December Fed policy meeting remains split between a 25 bp cut and no action, although the latest soft-ish jobs report underpins rising expectations for 25.<\/p>\n

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Earnings:\u00a0Adobe will be the feature, otherwise very quiet, only 19 firms reporting<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for December 11, 2024<\/strong><\/h3>\n

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Economic Reports<\/strong><\/h3>\n
provided by:\u00a0<\/a>ForexFactory.com<\/a><\/em><\/div>\n
All times are Eastern Time ( New York)<\/em><\/div>\n
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Good Trading!<\/div>\n
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About:\u00a0Cannon Trading is an independent futures brokerage firm established in 1988 in Los Angeles. Our mission is to provide reliable service along with the latest technological advances and choices while keeping our clients informed and educated in the field of futures and commodities trading.<\/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.\u00a0You 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.<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Pass the Knowledge – Feel Free to Forward to a Friend! Join our\u00a0Private Facebook group Subscribe to our\u00a0YouTube Channel Listen to our podcast: Subscribe on\u00a0Apple,\u00a0Spotify,\u00a0Amazon,\u00a0or wherever you listen to podcasts! Movers and shakers! By John Thorpe, Senior Broker   Equities prices were mostly flat as traders are anticipating tomorrow mornings CPI release at 7:30 CT. […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,230,67,30],"tags":[],"class_list":["post-20694","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-day-trading-2","category-future-trading-news","category-futures-broker-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20694","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=20694"}],"version-history":[{"count":2,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20694\/revisions"}],"predecessor-version":[{"id":20696,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20694\/revisions\/20696"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}