Volatile Start To February
Markets across the board saw a selloff Sunday night after news broke of more tariffs affecting both Mexico and Canada. US stock indices, crypto, and precious metal markets all saw declines in prices, but throughout the day traders have seen the market digest the news and the precious metals and crypto are back to positive territory on the day. Looking at the March NQ contract, prices have been able to stay out above a trendline going back to August of 2024, but there is still a lot of room to the upside before the market can retest all time high levels.
Manufacturing and PMI numbers for the U.S. were released today and showed a better than expected number. Looking ahead to the rest of the week, traders will be looking at the JOLTs data along with ADP nonfarm employment to add volatility to the market. With markets like Gold and Bitcoin trading around critical levels, these reports can hold more weight to market movements and make the swings larger based on good or bad numbers.
Finally, we'd like to let all our readers know that CME Group has partnered with TradingView to host The Futures Leap, a 1-month trading challenge through which participants can learn to master futures markets, trade big events and compete for a share of a 25K prize purse. Click here to register for this event.
If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/
*CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc.
**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
Manufacturing and PMI numbers for the U.S. were released today and showed a better than expected number. Looking ahead to the rest of the week, traders will be looking at the JOLTs data along with ADP nonfarm employment to add volatility to the market. With markets like Gold and Bitcoin trading around critical levels, these reports can hold more weight to market movements and make the swings larger based on good or bad numbers.
Finally, we'd like to let all our readers know that CME Group has partnered with TradingView to host The Futures Leap, a 1-month trading challenge through which participants can learn to master futures markets, trade big events and compete for a share of a 25K prize purse. Click here to register for this event.
If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs tradingview.com/cme/
*CME Group futures are not suitable for all investors and involve the risk of loss. Copyright © 2023 CME Group Inc.
**All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.
Further details of CME Group's regulatory status and full disclaimer of liability in accordance with applicable law are available here: cmegroup.com/disclaimer.html
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Further details of CME Group's regulatory status and full disclaimer of liability in accordance with applicable law are available here: cmegroup.com/disclaimer.html
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.