Dollar index is consolidating

The dollar index closed lower while consolidating.
Resistance at 102.3, 103.6, TLU2, TLU1, 106.7, 109.7
Support at 100.3, 99.8, 9

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 29 Apr 2023

BDI closed higher from 1,504 (21 Apr) to 1,576 (28 Apr)

Harpex closed higher from 1,199 (21 Apr) to 1,217 (28 Apr)

CDFI closed higher from 1,084.6 (21 Apr) to 1,103.26 (28 Apr)

CCFI closed higher from 934.39 (21 Apr) to 964.49 (28 Apr)

COT     

Download Commodities COT

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

• Palladium (1)
• Wheat (1)
• Soybean Oil (1)
• Soybeans
• Corn
• Cotton (1)
• Heating Oil

Neutral

• None

Up Trend

• Gasoline (1)
• Gold

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

• Cocoa

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 29 Apr 23

The US market is consolidating. Dow, S&P and Nasdaq closed higher, while Russell closed lower.

Harpex, BDI, CDFI and CCFI closed higher.

The dollar index closed lower while consolidating.

Watch out for

• Manufacturing PMI from multiple countries
• Interest rate decisions from Australia, Europe and the US
• US NFP
• Short trading week for China and Japan

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

UT 

• None

Neutral 

• Dow
• S&P

DT 

• None

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

• None

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

S&P
Daily Neutral, Weekly Neutral

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219

Nasdaq
Daily UT, Weekly Neutral

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,595

Russell
Daily DT, Weekly DT
Potential resistance around 1,779, 1,910, 2,040, 2,170, 2,300

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

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

01 May, Mon

• Holiday for Hong Kong, China, Singapore and most of the Europe countries
• 2200 US ISM Manufacturing PMI (Apr)

02 May, Tue

• Holiday for China
• 1230 Australia RBA Interest Rate Decision (May)
• 1230 Australia RBA Rate Statement  
• 1400 German Retail Sales MoM (Mar)
• 1555 German Manufacturing PMI (Apr)
• 1600 Europe Manufacturing PMI (Apr)
• 1630 UK Manufacturing PMI (Apr)
• 1700 Europe CPI (YoY) (Apr)
• 2200 US JOLTs Job Openings (Mar)

03 May, Wed

• Holiday for China
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0930 Australia Retail Sales (MoM) 
• 2015 US ADP Nonfarm Employment Change (Apr)
• 2145 US Services PMI (Apr)
• 2200 US ISM Non-Manufacturing PMI (Apr)
• 2230 US Crude Oil Inventories

04 May, Thu

• Holiday for Japan 
• 0200 US Fed Interest Rate Decision
• 0230 US FOMC Press Conference  
• 0645 New Zealand Employment Change (QoQ) (Q1)
• 0945 China Caixin Manufacturing PMI (Apr)
• 2015 Europe Deposit Facility Rate (May)
• 2015 Europe ECB Interest Rate Decision (May) 
• 2030 US Initial Jobless Claims
• 2045 Europe ECB Press Conference  
• 2200 Canada Ivey PMI (Apr)

05 May, Fri

• Holiday for Japan
• 0945 China Caixin Services PMI (Apr)
• 1700 Europe Retail Sales MoM (Mar)
• 2030 US Nonfarm Payrolls (Apr)
• 2030 US Unemployment Rate (Apr)
• 2030 Canada Unemployment Rate (Apr)

Dollar Index closed higher

The dollar index continues to close higher with an inside day on the weekly chart.
Resistance at 102.3, 103.6, TLU2, TLU1, 106.7, 109.7
Support at 100.3, 99.8, 98

COT for Dollar Index

Weekly chart with 50 SMA

Commodities Update 22 Apr 2023

BDI closed higher from 1,435 (14 Apr) to 1,504 (21 Apr)

Harpex closed higher from 1,157 (14 Apr) to 1,199 (21 Apr)

CDFI closed lower from 1,090.67 (14 Apr) to 1,084.6 (21 Apr)

CCFI closed lower from 942.14 (14 Apr) to 934.39 (21 Apr)

COT     

Download Commodities COT

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

• Palladium (1)
• Wheat
• Soybean Oil
• Cotton (1)

Neutral

• None

Up Trend

• Gasoline
• Gold

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

• Cocoa

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 22 Apr 23

The US market closed lower, except Russell closed higher.  The US market is consolidating.  

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

The dollar index continues to close higher with an inside day on the weekly chart.

Watch out for

• Japan BoJ Interest Rate Decision
• GDP data by  multiple countries
• The next US interest rate decision is on 04 Mar 0200 Hrs (SGT)

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

UT 

• S&P

Neutral 

• None

DT 

• Dow

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

• None

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 DT
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 DT

Potential resistance around 4,161, 4,396, 4,632

Potential support around 3,925, 3,690, 3,454, 3,219

Nasdaq
Daily UT, Weekly DT

Potential resistance around 13,485, 14,207, 14,930, 15,652

Potential support around 12,762, 12,040, 11,318, 10,595

Russell
Daily DT, Weekly DT
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)

24 Apr, Mon

• 1600 German Ifo Business Climate Index (Apr)

25 Apr, Tue

• Australia and New Zealand holiday
• 2200 US CB Consumer Confidence (Apr)
• 2200 US New Home Sales (Mar)

26 Apr, Wed

• 0930 Australia CPI (QoQ) (Q1)
• 2030 US Core Durable Goods Orders (MoM) (Mar)
• 2230 US Crude Oil Inventories

27 Apr, Thu

• 2030 US GDP (QoQ) (Q1)  
• 2030 US Initial Jobless Claims
• 2200 US Pending Home Sales (MoM) (Mar)

28 Apr, Fri

• 1100 Japan BoJ Interest Rate Decision
• 1100 Japan BoJ Outlook Report (YoY)  
• 1400 German GDP (QoQ) (Q1)
• 1555 German Unemployment Change (Apr)
• 2000 German CPI (MoM) (Apr) 
• 2030 US Core PCE Price Index (MoM) (Mar)
• 2030 Canada GDP (MoM) (Feb)