1pm - 'Economic news' courtesy reminder time Traders!
'Market Focus' in the US this evening
"Markets are likely to be very quiet pending the afternoon's FOMC announcement where changes are expected." [Source: nasdaq.com., Mark Pender]
'Market Reflections' from previous session (09.08.2010)
"Expectations for a downgrade to the economic assessment and for new quantitative easing measures gave another lift to stocks on Monday. The Dow rose 0.4 percent to 10,699. Oil rose 1.0 percent to $81.50 and gold slipped 0.3 percent to $1,201. The dollar index rose 0.4 percent to 80.70 while rates moved higher ahead of tomorrow's FOMC: the 2-year yield up three basis points to 0.54 percent with the 30-year up one basis point to 4.01 percent." [Source: nasdaq.com., Mark Pender] ______________________________________________________
Of note in the US this evening:-
Fed Interest Rate Decision [ Market moving indicator] [The Board of Governors of the Federal Reserve announces an interest rate. This interest rate affects the whole range of interest rates set by commercial banks, building societies and other institutions for their own savers and borrowers. It also tends to affect the exchange rate. Generally speaking, if the Fed is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the USD.]
Productivity and Costs [ Merits extra attention] [Productivity measures the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends.]
ICSC-Goldman Store Sales [Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of business sales and inventories.]
Wholesale Trade [This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.]
IBD/TIPP Economic Optimism (Aug) [The Economic Optimism Index, released by The Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP), measures the sentiment of consumers related to economic conditions. The report is based on a monthly survey where near to 1000 nationwide adults evaluate their economic outlook for the next six months, personal financial perspectives and their confidence in federal economics policies. If consumers are optimistic they will purchase more goods and services which will involve growth in domestic demand and stimulation to the economy. A reading above 50 indicates optimism, below 50 is pessimism.]
ABC/Washington Post Consumer Confidence (Aug) [The ABC/Washington Post Consumer Confidence released by ABC News and the Washington Post captures the level of confidence that individuals have in economic activity reflecting respondents' evaluations of their personal financial situation. Generally, a high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]
Redbook [A weekly measure of sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC index. It is also calculated differently than other indicators.]
4-Week Bill Auction; and 3-Yr Note Auction [Treasury bills are sold at public auctions every week; and Treasury notes are sold at regularly scheduled public auctions.] ______________________________________________________
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Please note the following 'Economic news' which is due to be released in Australia tomorrow:-
Westpac Consumer Confidence (Aug) [ Moderate volatility expected] [The Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute captures the level of sentiment that individuals have in economic activity reflecting respondents' evaluations of their family finances over the past and coming year, expectations about the one-year and five-year economic conditions and views about current buying conditions for major household items. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, whereas a low reading is seen as negative (or bearish).]
1pm - 'Economic news' courtesy reminder time Traders!
Market moving indicator]
Merits extra attention]
