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In This Issue
September Monthly Futures Market Memo
Economic Reports and Expiration Notices
GOOD TRADING!
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Newsletter Archives
December 30, 2008
Please note that Equity Indices products ES, NQ, EMD and YM roll on Thursday, September 11th at 8:30 am Chicago time from the September 08 contract to the December 08 contract.
The month code for December is 'Z'.
Last trade for September Currencies is Monday, September 15th. Please close any open September Currencies position by the close on Friday the 12th.
Should you have any further question please contact your broker.
Also note that the ER2Z8 contract will not be carried by the CME. The equivalent Russell contract will be available shortly at the ICE exchange.
by MF Global Research
Treasury prices are expected to rise slowly in September. TYZ8 should find support at 115-19 and work toward 119-16. The market will be supported by on going weakness in the U.S. economy and a deceleration in global economic growth. Moreover, credit stress remains and money is flowing out of the emerging markets in the wake of a downward revision to the global growth outlook, growing tensions between Russia and the West, and a slump in the Korean won. The U.S. unemployment rate should work toward 6.0%, although the recent ISM employment reading points to the chance for surprise labor market strength. Consumer demand will remain weak despite some relief from lower fuel prices. Additionally, business spending will be cautious given the weakening profit outlook and political uncertainty into the U.S. election. Overseas, the U.K. economy is in recession, and Euro-zone growth is contracting with PMI indices below 50 and retail sales contracting. EM growth is also at risk given a budding currency crisis in Korea, tight monetary policy in India, and political uncertainty in Eastern Europe. On credit, Fitch has noted on going deterioration in auto asset backed securities and option adjusted mortgages. Inflationary pressures are elevated but likely to moderate given the reduction in energy prices and soft labor market. Fed policy will be unchanged until after the U.S. election. The main bearish factor for the treasury market rests in poor valuation.
~Kalivas/Hoversen
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Report includes analysis of the equity market, currencies, precious metals, energies, grains, crb, and trade recommendations.
Cannon Trading respects your privacy and will never give this information to a 3rd party.
Disclaimer: There is a risk of financial loss in futures and options trading. Futures trading is neither easy nor an easy way to make money. It takes hard work to have success. Please use sound money management when trading futures. Past performance is not necessarily indicative of future results. Nothing in this newsletter is intended to be a trading recommendation for you to buy or sell futures or options. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed. Readers are solely responsible for how they use the information in this newsletter.
Source: Moore Research Center, Inc.
| Date | Reports | Expiration & Notice Dates |
|---|---|---|
| 09/11 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 7:30 AM CDT - Import & Export Prices(Aug) 7:30 AM CDT - Trade Balance(Jul) 9:35 AM CDT - EIA Gas Storage 1:00 PM CDT - Treasury Budget(Aug) 3:30 PM CDT - Money Supply |
LT: Sep Nikkei 225(CME)
Sep Nikkei 225 Options(CME) |
| 09/12 Fri |
7:30 AM CDT - Core PPI & PPI(Aug)
7:30 AM CDT - Retail Sales(Aug) 7:30 AM CDT - WASDE Report & Crop Production 7:30 AM CDT - Supply & Demand 7:30 AM CDT - Dairy Products Prices 9:00 AM CDT - Business Inventories(Jul) 9:00 AM CDT - Mich Sentiment-Prel(Sep) |
LT: Sep Corn(CBT)
Sep Wheat(CBT) Sep Oats(CBT) Sep Rough Rice(CBT) Sep Soybeans(CBT) Sep Soybean Meal(CBT) Sep Soybean Oil(CBT) Oct Sugar Options(ICE) Oct Coffee Options(ICE) Oct Cotton Options(ICE) |
| 09/15 Mon |
7:30 AM CDT - NY Empire State Index(Sep)
8:15 AM CDT - Capacity Util & Industrial Prod(Aug) NOPA Crush |
FN: Sep Currencies(CME)
LT: Sep Lumber(CME) Sep LIBOR(CME) Sep Cocoa(ICE) Sep US Dollar Index(ICE) Sep US T-Bill(CBT) Sep Eurodollar(CME) Sep Currencies(CME) Sep LIBOR Options(CME) Sep Eurodollar Options(CME) |
| 09/16 Tue |
7:30 AM CDT - Core CPI & CPI(Aug)
8:00 AM CDT - Net Foreign Purchases(Jul) 1:15 PM CDT - FOMC Policy Statement |
FN: Sep US Dollar Index(ICE)
Sep Canadian Dollar(CME) Sep Lumber(CME) LT: Sep Canadian Dollar(CME) Sep GSCI(CBT) |
| 09/17 Wed |
7:30 AM CDT - Building Permits & Housing Starts(Aug
9:35 AM CDT - API & DOE Energy Stats |
LT: Oct Crude Oil(NYM)
Oct Platinum(NYM) |
| 09/18 Thu |
7:30 AM CDT - USDA Weekly Export Sales
7:30 AM CDT - Initial Claims-Weekly 9:00 AM CDT - Leading Indicators(Aug) 9:00 AM CDT - Philadelphia Fed(Sep) 9:35 AM CDT - EIA Gas Storage 3:30 PM CDT - Money Supply |
LT: Sep DJIA(CBT)
Sep Valueline(KCBT) Sep NASDAQ 100(CME) Sep Coffee(ICE) Sep S&P 500(CME) Sep NYSE Index Sep Valueline Options(KCBT) Sep DJIA Options(CBT) Sep S&P 500 Options(CME) Sep Nasdaq 100 Options(CME) Sep Russell 2000 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!