In This Issue
Monetary Policy Making: Federal Open Market Committee
June '07 U.S. 30-Year Treasury Bond: Set to Swing
Reports and Expiration Notices
In light of todays FOMC meeting, we wanted to share the following informative link:
Monetary Policy Making: Federal Open Market Committee
The JUN '07 US 30YR T-BOND challenged good directional resistance at 112-11 and found religion. Expect the contract to ponder the meaning of its existence, maintaining a positive tone above 111-10-110-08. Buy breaks above here. A held trade under 111-08 and this starts to regress down to 110-23. Stick and move. Choppy reactions are expected. 110-11 and 109-28 are the low points for any breakdown.
112-11 remains the hurdle any new interest must overcome to give this rally a shot at a run up to 113-18 and 114-05. Notable resistance at 112-21 will gauge any positive push. Work any held trade. 114-27 and 115-13 are the extended targets.
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Disclaimer:
Trading commodity futures and options involves substantial risk of loss. The recommendations contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results. This is not a solicitation of any order to buy or sell, but a current futures market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, 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 judgment in trading!
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 05/10 Thu |
7:30 AM CDT - Export & Import Prices(Apr)
7:30 AM CDT - Trade Balance(Mar) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 1:00 PM CDT - Treasury Budget(Apr) 3:30 PM CDT - Money Supply |
LT: May Orange Juice(NYBOT)
|
| 05/11 Fri |
7:30 AM CDT - Crop Production & WASDE 7:30 AM CDT - Supply & Demand 7:30 AM CDT - PPI & Core PPI(Apr) 7:30 AM CDT - Retail Sales(Apr) 9:00 AM CDT - Business Inventories(Mar) 2:00 PM CDT - Dairy Products Prices Cotton Ginnings-Annual |
LT: May Canadian Dollar Options(CME)
May Eurodollar Options(CME) Jun Coffee Options(NYBOT) Jun Sugar Options(NYBOT) |
| 05/14 Mon |
NOPA Crush
|
LT: May Wheat(CBT)
May Oats(CBT) May Corn(CBT) May Soybeans(CBT) May Soybean Meal(CBT) May Soybean Oil(CBT) May Rough Rice(CBT) May LIBOR(CME) May Eurodollar(CME) May Lean Hogs(CME) May Lean Hog Options(CME) May LIBOR Options(CME) |
| 05/15 Tue |
7:30 AM CDT - CPI & Core CPI(Apr) 7:30 AM CDT - NY Empire State Index(May) 8:00 AM CDT - Net Foreign Purchases(Mar) |
LT: May Cocoa(NYBOT)
May Lumber(CME) May GSCI(CME) |
| 05/16 Wed |
7:30 AM CDT - Housing Starts & Building Permits(Apr) 8:15 AM CDT - Capacity Util & Indus Production(Apr) 9:30 AM CDT - API & DOE Energy Stats |
FN: May Lumber(CME)
LT: Jun Platinume Options(NYM) |
| 05/17 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:30 AM CDT - EIA Gas Storage 11:00 AM CDT - Philadelphia Fed(May) 3:30 PM CDT - Money Supply |
LT: Jun Crude Oil Options(NYM)
|
* Please note that the information contained in this letter is intended for clients, prospective clients, and audiences who have a basic understanding, familiarity, and interest in the futures markets.
** The material contained in this letter is of opinion only and does not guarantee any profits. These are risky markets and only risk capital should be used. Past performances are not necessarily indicative of future results.
*** This is not a solicitation of any order to buy or sell, but a current market view provided by Cannon Trading Inc. Any statement of facts herein contained are derived from sources believed to be reliable, but are not guaranteed as to accuracy, 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 judgment in trading!