daytrades may 5 afternoon, page-38

2pm - 'Economic news' courtesy reminder time Traders,

Please note the following 'Economic news' which is due out in the US this evening:-

Market Focus/Highlights

"Developments in Europe are certain to overshadow Wednesday's U.S. calendar." [Source: Bloomberg]

ISM Non-Manufacturing (Apr) [ High volatility expected]
[The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.]

ADP Employment Report [ Merits extra attention]
[The ADP national employment report is computed from a subset of ADP records that in the last six months of 2008, represented approximately 400,000 U.S. business clients and approximately 24 million U.S. employees working in all private industrial sectors.]

EIA Petroleum Status Report [ Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.]

Bank Reserve Settlement
[A two-week period that ends every other Wednesday during which commercial banks must meet reserve requirements stipulated by the Federal Reserve.]

MBA Purchase Applications
[The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.]

Challenger Job-Cut Report
[This monthly report counts and categorizes announcements of corporate layoffs based on mass layoff data from state departments of labor. The job-cut report must be analyzed with caution. It doesn't distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs. Also, the job-cut report does not include jobs eliminated in small batches over a longer time period. Unlike most economic data, this series is not adjusted for seasonal variation.]

Treasury Refunding Announcement
[Each quarter the U.S. Treasury announces its funding needs for the next two quarters. The announcement includes which securities will be offered and the dates of their announcement, auction and settlement.]

ISM Non-Mfg Index
[The non-manufacturing ISM surveys nearly 400 firms from 60 sectors across the United States, including agriculture, mining, construction, transportation, communications, wholesale trade and retail trade.]

3-Yr Note Announcement; 10-Yr Note Announcement; 30-Yr Bond Announcement
[Treasury notes are sold at regularly scheduled public auctions.]

Eric Rosengren speaks
[Boston Federal Reserve Bank President - Speech to the Money Marketeers of New York University. ]


... AND ...

The following 'Economic news' is due out in Australia tomorrow:-

Retail Sales Trend (MoM) (Mar) [ Moderate volatility expected]
[The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.]

Trade Balance (Mar) [ Moderate volatility expected]
[The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.]

AiG Performance of Construction Index (Apr)
[Based on 120 interviews to companies, the HIA/AiG Performance of Construction Index, released by the Australian Industry Group and the Housing Industry Association, is considered as an indicator that measures the conditions on the short and medium term in the construction market. Companies answer questions related to production, employment, prices supplier deliveries, inventories and new orders. A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.]

[Sources: Bloomberg & fxstreet.com]
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