In This Issue
Monthly Market Memo for June by MF Global
Economic Reports and Expiration Notices
Please note that Equity Indices products TF, ES, NQ, EMD and YM roll on Thursday the 11th at 8:30 am Chicago time from the June 09 contract to the September 09 contract.
The month code for September is 'U'. Last trade for June Currencies is Monday the 15th. Please close any open June Currencies position by the close of business on Thursday the 11th and begin trading the September contract on Friday the 12th. Should you have any further questions, please contact your broker.
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TYU is expected to work sideways to higher near term and the 2/10 curve should flatten in a corrective trade before widening again. However, the market is being run by technical factors and portfolio repositioning...more on debt markets in the full report!
The trend lower in the dollar is likely to continue in the first half of June. As the global economy bottoms, the markets will favor risk and shift away from the greenback. There is much concern over the fiscal composition of the United States as the budget deficit-to-GDP ratio skyrockets and the treasury continues to issue debt at a record pace...more on currencies in the full report!
Precious metals are expected to trade firmly in June, with gold prices advancing above $1,000/oz and silver above $16.00/oz. While both markets are undoubtedly due for a downside correction, we view the longer-term picture as still favorable for precious metals...more on precious metals in the full report!
Energy markets are expected to trade in a mixed-to-higher direction in June. Oil prices should approach the $76.30 resistance level with support coming from investment inflows, technical factors, and by growing tensions with North Korea...more on energies in the full report!
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Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
| 06/11 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Retail Sales(May) 9:00 AM CDT - Business Inventories(Apr) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
|
| 06/12 Fri |
7:30 AM CDT - Import & Export Prices(May)
8:55 AM CDT - Mich Sentiment-Prel(Jun) |
LT: Jun Lean Hogs(CME)
Jun Lean Hogs Options(CME) Jul Coffee(ICE) |
| 06/15 Mon |
7:30 AM CDT - NOPA Crush
|
FN: Jun Currencies(CME)
LT: Jun Currencies(CME) Jun Eurodollar(CME) Jun LIBOR(CME) Jun GSCI(CBT) Jun US T-Bill(CBT) Jun Eurodollar Options(CME) Jun LIBOR Options(CME) Jun US T-Bill Options(CBT) |
| 06/16 Tue |
7:30 AM CDT - Building Permits & Housing Starts(May)
7:30 AM CDT - Core PPI & PPI(May) 8:15 AM CDT - Capacity Util & Industrial Prod(May) |
FN: Jun Canadian Dollar(CME)
Jun US Dollar Index(ICE) LT: Jun Canadian Dollar(CME) |
| 06/17 Wed |
7:30 AM CDT - Core CPI & CPI(May)
9:35 AM CDT - API & DOE Energy Stats |
FN: Jul Cocoa(ICE)
LT: Jul Crude Lt Options(NYM) Jul Platinum Options(CMX) |
| 06/18 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Leading Indicators(May) 9:00 AM CDT - Philadelphia Fed(Jun) 9:35 AM CDT - EIA Gas Storage 2:00 PM CDT - Milk Production 3:30 PM CDT - Money Supply |
LT: May Value Line(CME)
Jun NASDAQ(CME) Jun S&P 500(CME) Jun Valueline Options(CME) Jun NASDAQ Options(CME) Jun S&P 500 Options(CME) |
* 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!