{"id":20836,"date":"2025-01-07T13:23:39","date_gmt":"2025-01-07T21:23:39","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=20836"},"modified":"2025-01-07T13:24:28","modified_gmt":"2025-01-07T21:24:28","slug":"movers-and-shakers-dollar-dominance-commodity-trends-and-key-market-updates","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/movers-and-shakers-dollar-dominance-commodity-trends-and-key-market-updates\/","title":{"rendered":"Movers and Shakers: Dollar Dominance, Commodity Trends, and Key Market Updates!"},"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

Subscribe to our\u00a0YouTube Channel<\/a><\/p>\n

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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Three trading days removed from Contract Highs in the U.S. Dollar index @ 109.325 basis the March 2025 contract and a 2 full cent retracement yesterday,\u00a0the bulls certainly appear to be control of this market with a close today near the session highs @ 108.40.\u00a0\u00a0The value of the dollar has numerous implications for our export markets, as the dollar becomes stronger the cost of goods become more expensive.<\/p>\n

High Dollar values over the long term usually do not not bode well for commodity prices. Needless to say, the energy complex looks strong today with spot Feb WTI up .85 cents, nearing the $75 \/bbl mark after being in the 60\u2019s just 10 days ago.<\/p>\n

The Grain market has nearly a mirror inverse image basis the daily charts compared to the U.S Dollar index. With one exception, The corn market.<\/p>\n

Just an observation, the precious metals market have struggled to make new highs or even break above their 3 month Mid range price levels as the U.S. Dollar strength has been a main feature affecting the commodity markets.<\/p>\n

The U.S Dollar is considered a safe haven.<\/p>\n

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Today\u2019s Movers<\/p>\n

Today\u2019s News:<\/p>\n

Updated: January 7, 2025 9:02 am<\/p>\n

Institute of Supply Management (ISM) US Service Sector Headline Recap<\/p>\n

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**ISM US December Service Sector Composite Index: 54.1 ; expected 53.4 ; prior month 52.1<\/p>\n

**ISM US December Service Sector Business Activity: 58.2 vs prior month 53.7<\/p>\n

**ISM US December Service Sector Employment: 51.4 vs prior month 51.5<\/p>\n

**ISM US December Service Sector New Orders: 54.2 vs prior month 53.7<\/p>\n

**ISM US December Service Sector Prices Paid: 64.4 vs prior month 58.2<\/p>\n

Updated: January 7, 2025 9:02 am<\/p>\n

**US November 2024 Job Openings and Labor Turnover Summary (JOLTS): 8.098 mln; prior month 7.744 mln<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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US weekly jobless claims will be released at 7:30 am CT Wednesday morning, a day earlier than normal due to the funeral for former Pres. Carter, initial claims are expected at 215,000, up +4,000 from the prior week.<\/p>\n

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

7:30 AM CST Waller Fed Speech<\/p>\n

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ADP December US Private Sector jobs net change data will be released Wednesday morning around 7:15 am CT. Analysts expect job gains of +136,000 that’s off 100,000 from the previous month’s +146,000.<\/p>\n

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11:00 AM\u00a0CST\u00a0FOMC minutes from the December Rate decision<\/p>\n

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Both crude oil and natural gas numbers are out tomorrow!<\/p>\n

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Earnings:\u00a0very quiet, only 14 firms reporting<\/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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Daily Levels for January 8th, 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   Three trading days removed from Contract Highs in the U.S. Dollar index @ 109.325 basis the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[231,76,167,230,782,67,30],"tags":[],"class_list":["post-20836","post","type-post","status-publish","format-standard","hentry","category-commodity-brokers-2","category-commodity-trading-2","category-currency-futures","category-day-trading-2","category-economic-trading","category-future-trading-news","category-futures-broker-2"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20836","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=20836"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20836\/revisions"}],"predecessor-version":[{"id":20837,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/20836\/revisions\/20837"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=20836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=20836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=20836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}