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January 19th, 2018 Newsletter

January February Global Market Outlook and Gold Futures Chart Review


January 19, 2018 - Issue #906

In This Issue

1. Jan-Feb Global Markets Preview
2. Hot Market report: Gold Testing Resistance Levels
3. Economic Calendar

1. Jan/Feb 2018 TTN Global Markets Preview: "Winter Games" What is the gold medal scenario for the markets?

The XXIII Winter Olympics start in early February, but instead of signifying a moment of global unity, these Games may present a reminder of international tensions. The Games are being held in PyeongChang, South Korea, just miles away from the world’s biggest pariah nation whose nuclear program is currently the most obvious threat to international security. Ahead of the Games, North Korea has reopened direct contact with the South, and tensions have eased somewhat. But the two Koreas have gone through cycles of detente before, only to see the North go back to its antagonistic ways.

Despite the geopolitical uncertainties, the global economic environment is on an uptrend. Equity markets have reached Olympic heights, with most equity indices posting double digit gains on the year. Treasury yields are rising, though there has been significant flattening in the yield curve, sparking some speculation about the timing of the next recession. The dollar index ended the year down about 9%, and 2018 may see more weakness in the greenback as markets speculate that other major central banks will start to tighten policy and play catch up with the Fed. Central bankers will be watching inflation which has shown some signs of life, led by WTI crude climbing above $60/barrel on better demand and surprisingly strong compliance with the OPEC production cutting deal.

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2. Hot Market Report: Gold Futures Steady Climb to Continue?

By Ilan Levy-Mayer, VP

Click on image below to enlarge

gold futures; Gold has been supported by a few factors. Weaker US $ over past few weeks has helped gold rally from Upper mid 1200's to mid 1300' over period of 12 weeks. Volatile Bitcoin market also lends support to "gold safety". The market still looks technically strong but little ovberbought, Current fears of US Govt. shutdown are providing additional support for this market. Major suport at $1303 and major resistance at $1367. As always, if you like to chat markets, have questions, please feel free toat any time.

3. Economic Calendar

Source: Moore Research Center, Inc.

Date Reports Expiration & Notice Dates
01/19
Fri
7:30 AM CST - USDA Weekly Export Sales
9:00 AM CST - Mich Sentiment-Prelim(Jan)

LT: Jan Nikkei Options(CME)
Jan Russell Options(CME)
Feb Orange Juice Options(ICE)
01/22
Mon



LT: Feb Crude Lt(NYM)


01/23
Tue
2:00 PM CST - Cold Storage
2:00 PM CST - Milk Production
3:30 PM CST - API Energy Stocks



01/24
Wed
6:00 AM CST - MBA Mortgage Applications Index
8:00 AM CST - FHFA Housing Price Index(Nov)
9:00 AM CST - Existing Home Sales(Dec)
9:30 AM CST - EIA Petroleum Status Report
2:00 PM CST - Dairy Products Sales
FN: Feb Crude Lt(NYM)


01/25
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - New Home Sales(Dec)
7:30 AM CST - Adv International Trade In Goods(Dec)
7:30 AM CST - Adv Wholesale Inventories(Dec)
9:00 AM CST - Leading Indicators(Dec)
9:30 AM CST - EIA Natural Gas Report
3:30 PM CST - Money Supply
LT: Jan Feeder Cattle(CME)
Jan Feeder Cattle Options(CME)
Feb Copper Options(CMX)
Feb Gold & Silver Options(CMX)
01/26
Fri
7:30 AM CST - GDP-Adv(Q4)
7:30 AM CST - Chain Deflator-Adv(Q4)
7:30 AM CST - Durable Orders(Dec)
7:30 AM CST - Durable Goods-Ex Transportation(Dec)
2:00 PM CST - Cattle On Feed
LT: Feb 2,5,10 Year Notes Options(CBT)
Feb Bonds Options(CBT)
Feb Canola Options(CBT)
Feb Wheat Options(CBT)
Feb Corn Options(CBT)
Feb Rough Rice Options(CBT)
Feb Oats Options(CBT)
Feb Soybeans,Soymeal,Soyoil Options(CBT)
Feb Natural Gas Options(NYM)
Feb RBOB & ULSD Options(NYM)
01/29
Mon
7:30 AM CST - PCE Prices(Dec)
7:30 AM CST - PCE Prices-Core(Dec)
7:30 AM CST - Personal Income & Spending(Dec)
LT: Jan Copper(CMX)
Jan Gold(CMX)
Jan Silver(CMX)
Jan Platinum(NYM)
Jan Palladium(NYM)
Feb Natural Gas(NYM)
01/30
Tue
9:00 AM CST - Consumer Confidence(Jan)
3:30 PM CST - API Energy Stocks

FN: Feb Natural Gas(NYM)
LT: Jan Butter(CME)
Jan Milk(CME)
Jan Butter Options(CME)
Jan Milk Options(CME)'
01/31
Wed
6:00 AM CST - MBA Mortgage Applications Index
7:15 AM CST - ADP Employment Change(Jan)
7:30 AM CST - Employment Cost Index(Q4)
9:00 AM CST - Pending Home Sales(Dec)
9:30 AM CST - EIA Petroleum Status Report
1:00 PM CST - FOMC Rate Decision(Jan)
2:00 PM CST - Dairy Products Sales
FN: Feb Copper(CMX)
Feb Gold & Silver(CMX)
Feb Platinum & Palladium(NYM)
LT: Jan Fed Funds(CME)
Feb RBOB & ULSD(NYM)
Jan Fed Funds Options(CME)
Jan Lumber Options(CME)
02/01
Thu
7:30 AM CST - USDA Weekly Export Sales
7:30 AM CST - Initial Claims-Weekly
7:30 AM CST - Productivity-Prel(Q4)
7:30 AM CST - Unit Labor Costs-Prelim(Q4)
9:00 AM CST - Construction Spending(Dec)
9:00 AM CST - ISM Index(Jan)
9:30 AM CST - EIA Natural Gas Report
1:00 PM CST - Auto & Truck Sales(Jan)
2:00 PM CST - Cotton System
2:00 PM CST - Dairy Products
2:00 PM CST - Fats & Oils
2:00 PM CST - Grain Crushings
3:30 PM CST - Money Supply



FN=First Notice, OE=Option Expiration, LT=Last Trade

Disclaimer: This calendar is compiled from sources believed to be reliable. Moore Research Center, Inc. assumes no responsibility for any errors or omissions. It is meant as an alert to events that may affect trading strategies and is not necessarily complete. The release dates for certain economic reports may have been rescheduled.

* 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!

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