1pm - 'Economic news' courtesy reminder time Traders!
'Market Focus' in the US this evening
"Extending gains for purchase applications could begin to build hope that the mid-year crunch for the housing sector is easing." [Source: nasdaq.com., Mark Pender]
'Market Reflections' from previous session (17.08.2010)
"Solid gains across industrial production data renewed confidence in the strength and leadership of the manufacturing sector. Housing starts data however were weak as this sector continues to struggle. Retailers are also struggling, based on both the weekly chain-store reports and on a run of company earnings headed by Wal-Mart and Home Depot which both show deteriorating sales trends. But shares of both were up as cost-cutting is helping their bottom lines. The industrial production report together with global merger talk gave a boost to the stock market where the Dow rose 1.2 percent to 10,428. Oil rose in sympathy, up 0.6 percent to $76. Gold was steady at $1,225. Money moved out of Treasuries which gave back only some of yesterday's big gains. The 30-year yield rose four basis points to 3.76 percent." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-- 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.]- 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.]
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... AND ...
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Of note in Australia tomorrow:-- Average Weekly Wages (QoQ) (YoY) (May)
[The Average Weekly Wages released by the Australian Bureau of Statistics is an indicator of labor cost inflation and of the tightness of labor markets. The Reserve Bank of Australia pays close attention to it when setting interest rates. A high reading is positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]
[Sources used: nasdaq.com & fxstreet.com]
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