daytrades nov 17 afternoon, page-2

Thanks Endless!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"Watch for Asian reaction to the building Irish drama." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (16.11.2010)

"All of a sudden panic has re-appeared in the financial markets. What appears to be a failure of the Irish banking system due to bad loans has created a scramble in the EU which may or may not have to bail-out the nation as it did Greece. Not helping are new questions over Greece and whether it will meet criteria under its bail-out agreement. The euro lost another one cent against the dollar and at $1.3500 is down two cents since Friday.

U.S. economic news was once again positive led by a rise in the key manufacturing component of the industrial production report. Treasury International Capital data show strong demand for U.S. securities, demand that looks to strengthen given the new unraveling in Europe.

The Irish situation, along with an inflation-fighting rate hike in South Korea, were too much for the Dow which lost 1.6 percent to 11,023. Money moved into the safety of Treasuries where yields fell steeply led by a 15 basis point dip in the 30-year yield to 4.26 percent. The dollar index jumped nearly one percent to 79.22. Commodities mostly moved lower led by oil, down $2-1/2 to $82. Gold, which sold off heavily yesterday, rose $10 to $1,340." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Consumer Price Index [ Market moving indicator]
[The Consumer Price Index is a measure of the average price level of a fixed basket of goods and services purchased by consumers. Monthly changes in the CPI represent the rate of inflation.]

Housing Starts [ Market moving indicator]
[A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.]

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.]

Eric Rosengren speaks
[Boston Federal Reserve Bank President - Speech to the Greater Providence Chamber of Commerce, in Providence, Rhode Island.]

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.]

Building Permits (MoM) (Oct)
[The Building Permits released by the US Census Bureau, at the Department of Commerce shows the number of permits for new construction projects. It implies the movement of corporate investments (US economic development). It tends to cause some volatility to the USD. Normally, the more growing number of permits, the more positive (or bullish) for the USD.]
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... AND ...
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Of note in Australia tomorrow:-

Please note there is no noteworthy 'Economic news' due to be released in Australia tomorrow.

[Sources used: nasdaq.com; bloomberg.com & fxstreet.com]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Up 26 pts atm (Live)!