Dollar Index closed lower

The dollar index broke pwh (previous week's high) on the weekly chart and reversed to close lower. The dollar index is consolidating. 
Resistance at 102.3, 103.6, TLD1, TLU2, TLU1, 106.7
Support at 100.3, 99.8, 98.7

COT for Dollar Index

Weekly chart with 50 SMA 

Commodities Update 08 Jul 2023

BDI closed lower, from 1,091 (30 Jun) to 1,009 (07 Jul)

Harpex closed lower from 1,227 (30 Jun) to 1,211 (07 Jul)

CDFI closed lower from 980.19 (30 Jun) to 950.29 (07 Jul)

CCFI closed lower from 895.72 (30 Jun) to 880.2 (07 Jul)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Corn
• Coffee 
• Gold
• Palladium (1)
• Platinum
• Silver

Neutral

• Wheat
• Cotton
• Gasoline

Up Trend

• Soybeans

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• US Cococa

Neutral

• Rough Rice

Down Trend

• None

Note
(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Averages.

US Markets 08 Jul 2023

The US market closed lower. Dow and S&P closed with an inside day on the weekly chart, while Nasdaq and Russell broke pwh (previous week's high) and reversed to close lower.

BDI, Harpex, CDFI and CCFI closed lower.

The dollar index broke pwh (previous week's high) on the weekly chart and reversed to close lower. The dollar index is consolidating.

Watch out for

• CPI data by multiple countries
• New Zealand and Canada Interest rate decision

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• None

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• Nasdaq

Neutral 

• None

DT 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal

Down Trend and Up Trend are based on 50 Simple Moving Averages.

Dow
Daily UT, Weekly UT
Potential resistance around 35,495, 37,625, 39,754
Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily UT, Weekly UT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652, 16,374, 17,097

Potential support around 14,930, 14,207, 13,485, 12,762, 12,040

Russell
Daily UT, Weekly UT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389, 1,259

Key event to watch out for (SG Time, GMT+8)

10 Jul, Mon

• 0930 China CPI (YoY) (Jun)
• 0930 China PPI (YoY) (Jun)

11 Jul, Tue

• 1400 German CPI (MoM) (Jun)
• 1400 UK Claimant Count Change (Jun)
• 1400 UK Employment Change (Jun)

12 Jul, Wed

• 1000 New Zealand RBNZ Interest Rate Decision
• 1100 Australia RBA Gov Lowe Speech 
• 2030 US Core CPI (MoM) (Jun)
• 2030 US CPI (MoM) (Jun)
• 2200 Canada BoC Interest Rate Decision
• 2230 US Crude Oil Inventories

13 Jul, Thu

• 1400 UK GDP (MoM) (May)
• 2030 US Initial Jobless Claims
• 2030 US PPI (MoM) (Jun)

14 Jul, Fri

• New Zealand on holiday
• 2200 US Michigan Consumer Sentiment (Jul)  

Dollar Index closed lower

The dollar index broke pwh (previous week's high) on the weekly chart and reversed to close lower. 
Resistance at 102.3, 103.6, TLD1, TLU2, TLU1, 106.7
Support at 100.3, 99.8, 98.7

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 01 Jul 2023

BDI reversed to close lower, from 1,240 (23 Jun) to 1,091 (30 Jun)

Harpex closed lower from 1,235 (23 Jun) to 1,227 (30 Jun)

CDFI closed higher from  976.24 (21 Jun) to 980.19 (30 Jun)

CCFI closed lower from 919.63 (21 Jun) to 895.72 (30 Jun)

COT     

Download Commodities COT

Instruments that show buying interest (3) by Producer/Merchant/Processor/User
Down Trend

• Soybeans 
• Gold
• Palladium (1)
• Silver
• Gasoline

Neutral

• Wheat
• Cotton

Up Trend

• None

Instruments that show selling interest at extreme (2) only by Producer/Merchant/Processor/User
Up Trend

• Rough Rice
• US Cococa

Neutral

• None

Down Trend

• None

Note
(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for a trend reversal
Down Trend and Up Trend are based on 50 Simple Moving Average.

US Markets 01 Jul 2023

The US market broke pwh (previous week's high) and closed higher with an outside day on the weekly chart.

While CDFI closed higher, BDI, Harpex and CCFI closed lower.

The dollar index broke pwh (previous week's high) on the weekly chart and reversed to close lower.

Watch out for

• US short trading week
• Manufacturing PMI by multiple countries.
• Australia RBA Interest Rate Decision
• US FOMC Meeting Minutes and NFP (Nonfarm Payrolls)

Instruments that show buying interest (3) from Dealer/Intermediary (sell-side participants)

UT 

• None

Neutral 

• Dow

DT 

• None

Instruments that show selling interest at extreme (2) by Dealer/Intermediary (sell-side participants)
UT 

• Nasdaq

Neutral 

• None

DT 

• None

Note

(1) COT Index >= 90, Buying interest at extreme
(2) COT Index <= 10, Selling interest at extreme
(3) COT Index >= 70, rising COT Index, monitor for trend reversal

Down Trend and Up Trend are based on 50 Simple Moving Average.

Dow
Daily Neutral, Weekly UT
Potential resistance around 35,495, 37,625, 39,754
Potential support around 33,365, 31,236, 29,106, 26,976

S&P
Daily UT, Weekly UT

Potential resistance around 4,632, 4,867, 5,103

Potential support around 4,396, 4,161, 3,925, 3,690, 3,454

Nasdaq
Daily UT, Weekly UT

Potential resistance around 15,652, 16,374, 17,097

Potential support around 14,930, 14,207, 13,485, 12,762, 12,040

Russell
Daily UT, Weekly UT
Potential resistance around 1,910, 2,040, 2,170, 2,300

Potential support around 1,779, 1,649, 1,519, 1,389, 1,259

Key event to watch out for (SG Time, GMT+8)

03 Jul, Mon

• Canada on holiday
• The US market closed early
• 0945 China Caixin Manufacturing PMI (Jun)
• 1555 German Manufacturing PMI (Jun)
• 1600 Europe Manufacturing PMI (Jun)
• 1630 UK Manufacturing PMI (Jun)
• 2200 US ISM Manufacturing PMI (Jun)

04 Jul, Tue

• US on holiday
• 0930 Australia Retail Sales MoM (May)
• 1230 Australia RBA Interest Rate Decision (Jul)

05 Jul, Wed

• 0945 China Caixin Services PMI (Jun)

06 Jul, Thu

• 0200 US FOMC Meeting Minutes 
• 1700 Europe Retail Sales YoY (May)
• 2015 US ADP Nonfarm Employment Change (Jun)
• 2030 US Initial Jobless Claims
• 2145 US Services PMI (Jun)
• 2200 US ISM Non-Manufacturing PMI (Jun)
• 2200 US JOLTs Job Openings (May)
• 2200 Canada Ivey PMI s.a (Jun)
• 2300 US Crude Oil Inventories

07 Jul, Fri

• 2030 US Average Hourly Earnings (MoM) (Jun)
• 2030 US Nonfarm Payrolls (Jun)
• 2030 US Unemployment Rate (Jun)
• 2030 Canada Employment Change (Jun)