daytrades dec 3 afternoon, page-2

Thanks Highlandlad!

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

'Market Focus' in the US this evening

"Given two days of strong gains, the Dow may have already discounted a solid employment report." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (02.12.2010)

"A jump in pending home sales reset what had been a very pessimistic view on the housing sector. That combined with a run of strong chain-store sales made for a second big rally in the Dow, adding to yesterday's two percent gain with a one percent gain to 11,362.

Commodities were big winners including a more than one percent gain for oil to $88. The move away from safety made for a half percent decline in the dollar index to 80.21 but only a small decline in gold to $1,384. And there was no exodus from Treasuries where yields were little changed to only slightly higher. The 30-year yield rose two basis points to 4.27 percent.

The euro gained 1/2 cent to just over $1.3211 after a session of wide trading. The euro initially sank after the European Central Bank disappointed expectations for new European bond buying. The currency then rallied on talk that the ECB was in fact in the market buying Irish and Portuguese bonds. " [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Nonfarm Payrolls (Nov) [ High volatility expected]
[The nonfarm payrolls released by the US Department of Labor is one of the most important data. The report presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. Generally soeaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

Unemployment Rate (Nov) [ High volatility expected]
[The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the US economy. Therefore, a decrease of the figure is seen as positive (or bullish) for the USD, while an increase is seen as negative (or bearish).]

Average Hourly Earnings (MoM) (Nov) (YoY) [ Moderate volatility expected]
[The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.]

Factory Orders (Oct) [ Moderate volatility expected]
[The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods such as shipments (sales), inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector. Normally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

ISM Non-Manufacturing (Nov) [ Moderate 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.]

Average Weekly Hours (Nov)
[The Average Weekly Hours released by the US Department of Labor is an indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. Excessive volatility is expected.]

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... AND ...
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Of note in Australia on Monday of next week:-

ANZ Job Advertisements (MoM) (NOV)

[Sources used: nasdaq.com; bloomberg.com; fxstreet.com; dailymarkets.com; www.dailyfx.com; & ozforex.com.au]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 19 pts atm (Live)!