Review:
The Baltic Dry Index (BDI) is a number issued daily by the London-based Baltic Exchange. Not restricted to Baltic Sea countries, the index tracks worldwide international shipping prices of various dry bulk cargoes. The index provides "an assessment of the price of moving the major raw materials by sea. Taking in 26 shipping routes measured on a timecharter and voyage basis, the index covers Handymax, Panamax, and Capesize dry bulk carriers carrying a range of commodities including coal, iron ore and grain." The BDI is based on US dollars, so it is also influenced by changes in the value of the US dollar. Because dry bulk primarily consists of materials that function as raw material inputs to the production of intermediate or finished goods, such as concrete, electricity, steel, and food, the index is also seen as an efficient economic indicator of future economic growth and production. The BDI is termed a leading economic indicator because it predicts future economic activity. (Source : Wikipedia)
Now this Index allready rise almost 1.272% and at the 2.468 levels; "usually" BDI will give an impact approximately 3 month later.
Technical Level :
Breakout Buy level : 1.2819.
Strong Resistance : 1.2812.
Original Resistance : 1.2800.
Inner Sell Area : 1.2787.
Target Inner Area : 1.2757.
Inner Buy Area : 1.2726.
Original Support : 1.2714.
Strong Support : 1.2701.
Breakout Sell level : 1.2694.
Fundamental News :
Only 2 data release from Eurozone this day at 16:00WIB Core CPI y/y and CPI y/y after US market open there will be more data will be release 19:30 WIB Empire State Manufacturing Index, at 20:00 WIB TIC Long-Term Purchases and at NAHB Housing Market Index at 21:00 WIB.