In This Issue
Sharpening Your Trading Skillset
Economic Reports and Expiration Notices
We feel the following arcticles provide an informative overview of the current focal points of the U.S. economy: the credit market, the dollar value, and the discussion over whether or not the U.S. economy is currently in recession.
By Walden Siew
NEW YORK (Reuters) - This week's central bank efforts to unfreeze credit markets will offer only temporary relief and more pain can be expected before a market recovery, analysts said at a credit conference on Wednesday.
The U.S. Federal Reserve announced on Tuesday that it would inject up to $200 billion to strained credit markets as part of a coordinated effort with other central banks, including the Bank of Canada, Bank of England, European Central Bank and the Swiss National Bank.
That effort is likely a short-term solution. Credit markets will likely stay frozen until banks fully realize more losses as they write down their holdings of mortgage-related bonds after years of inflated values for loan and debt securities, panelists said at a credit conference in New York.
NEW YORK (Reuters) - The dollar index tumbled to a record low on Wednesday as doubts grew about the long-term impact of recent Federal Reserve efforts to pump money into cash-starved credit markets.
The New York Board of Trade's U.S. dollar index fell to 72.457 before recovering slightly to trade at 72.509.
NEW YORK (Reuters) - A recession has already started and the downturn is likely to last longer than in the recent past, with the economy recovering only late next year, according to a quarterly survey of corporate finance chiefs released on Wednesday.
Fifty-four percent of the CFOs said the United States is in recession, and another 24 percent said there is a high likelihood of one starting later this year, according to a Duke University/CFO Magazine survey completed on March 7.
Nearly three-quarters of the CFOs said they were more pessimistic this quarter than in the prior quarter about the U.S. economy, reflecting concerns about consumer spending, turmoil in credit and housing markets, and high energy prices.
An index of optimism, which rates the economy on a 1 to 100 scale, is at 52, the lowest in the seven-year history of the index, the survey found.
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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 |
|---|---|---|
| 03/13 Thu |
7:30 AM CDT - Export & Import Prices(Feb)
7:30 AM CDT - Retail Sales(Feb) 7:30 AM CDT - USDA Weekly Export Sales 7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Business Inventories(Jan) 9:30 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Mar Nikkei 225(CME)
Mar Nikkei 225 Options(CME) Mar Cocoa(ICE) |
| 03/14 Fri |
NOPA Crush
7:30 AM CDT - CPI & Core CPI(Feb) 9:00 AM CDT - Michigan Sentiment-Prelim(Mar) |
LT: Mar Lumber(CME)
Mar Corn(CBT) Mar Wheat(CBT) Mar Oats(CBT) Mar Rough Rice(CBT) Mar Soybeans(CBT) Mar Soybean Meal(CBT) Mar Soybean Oil(CBT) Apr Sugar Options(ICE) Apr Coffee Options(ICE) Apr Crude Oil(NYM) |
| 03/17 Mon |
7:30 AM CDT - NY Empire State Index(Mar)
8:00 AM CDT - Net Foreign Purchases(Jan) 8:15 AM CDT - Capaqcity Util & Indus Prod(Feb) |
LT: Mar Currencies(CME)
Mar LIBOR(CME) Mar US Dollar Index(NYM) Mar GSCI(CME) Mar Tbill(CME) Mar Eurodollar Options(CME) Mar Eurodollar(CME) |
| 03/18 Tue |
7:30 AM CDT - Housing Starts & Building Permits(Feb) 7:30 AM CDT - PPI & Core PPI(Feb) 1:15 PM CDT - FOMC Policy Statement |
FN: Mar US Dollar Index(NYM)
LT: Mar Canadian Dollar(CME) Mar Coffee(ICE) |
| 03/19 Wed |
9:30 AM CDT - API & DOE Energy Stats
|
LT: Mar 10-Year T-Notes(CBT)
Mar Dow Jones Indus Ave(CBT) Mar Nasdaq 100(CME) Mar S&P 500(CME) Mar US 30 Yr Bonds(CBT) Apr Crude Oil(NYM) Mar S&P 500 Options(CME) Mar Nasdaq 100 Options(CME) Mar Russell 2000 Options(CME) |
| 03/20 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Leading Indicators(Feb) 9:00 AM CDT - Philadelphia Fed 9:30 AM CDT - EIA Gas Storage 2:00 PM CDT - Cattle On Feed 2:00 PM CDT - Cold Storage 2:00 PM CDT - Livestock Slaughter 2:00 PM CDT - Dairy Products Prices 3:30 PM CDT - Money Supply |
LT: Mar Feeder Cattle(CME)
Mar Emini-S&P 500(CME) Mar Emini-Nasdq 100(CME) Mar Emini-Russell 2000(CME) Mar Feeder Cattle Options(CME) Mar Feeder Cattle(CME) Mar E-mini S&P 500 Options(CME) Mar E-mini Nasdaq 100 Options(CME) Mar E-mini Russell 2000 Options(CME) Mar Valueline Options(KCBT) |
* 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!