Macro will stay in the driver’s seat this week, with several moving pieces likely to influence overall direction.
• Friday’s jobs report is the main event. Expectations are fairly neutral, so the reaction will matter more than the number itself. The dollar will be key to watch – strength there would likely lean against export-heavy commodities like cotton, while any weakness could be supportive.
Market Movement from 27th Apr 2026 to 02nd May 2026.
• It was another strong week for bulls in the NY futures market, as positive technical indicators continued to attract buying interest. Ongoing geopolitical tensions, with no clear resolution to the war, pushed crude oil prices higher, making PSF more expensive and supporting cotton prices. Backed by improved market sentiment and speculative buying, NY July posted a robust weekly gain of nearly 5%, ultimately closing with an impressive rise of 483 points week-on-week.
The macro backdrop will take center stage this week, with several key events likely to shape overall market direction.
• The Federal Reserve meets Wednesday, and while a rate hold is widely expected, the focus will be on tone. With inflation still running firm, any shift in language around policy direction or timing could move markets.
Market Movement from 20th Apr 2026 to 25th Apr 2026.
• After several consecutive weeks of upward momentum, the market rally has paused, with this week closing slightly in the red, nearly unchanged overall. The front-month contract has now shifted to July, and NY July futures ended the week with a loss of 46 points on a week-on-week basis.