daytrades august 12 morning ...

Good Morning Traders (thanks for handover highlandlad),

DOW Snapshot from previous trading session

"Stocks slid to close sharply lower Wednesday after a report showed the U.S. trade gap widened, and foreign data cast doubt on overseas demand for American goods. Earlier Wednesday, the government reported the trade deficit widened in June to $49.9 billion, much more than economists had expected. Ian Shepherdson, economist at High Frequency Economics, called the trade figures "spectacularly terrible." Meanwhile, the Bank of England lowered its forecast for U.K. economic growth, and said inflation is likely to be below the 2% target in 2012. A raft of data from China reflected a dour July -- inflation rates missed expectations, industrial production eased to the lowest level this year and retail sales slowed." [Source: cnnmoney.com]

The DJIA Index finished the trading session: Down 265.42 pts; and
The SPI Futures are currently: Down 80 pts atm.

Of Note in the US this evening:

Jobless Claims [Merits extra attention]

EIA Natural Gas Report [Merits extra attention]

Import Price Index (MoM) (YoY) (Jul) [Moderate volatility expected]

... and ...

Of Note in Australia today:

Unemployment Rate (Jul) [High volatility expected]
[The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).]

Employment Change (Jul) [High volatility expected]
[The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

Consumer Inflation Expectation (Aug)
[The Consumer Inflation Expectation released by the Melbourne Institute presents the consumer expectations of future inflation during the next 12 months. The higher expectations, the stronger the effect they will have on a probability of a rate hike by the RBA. Therefore, a high reading should be taken as positive, or bullish, for the AUD, while a low expectations are seen as negative or bearish.]

[Sources used: nasdaq.com & fxstreet.com]

Gold is trading Up $3.40 atm and is currently sitting at $1,201.30/oz [Source: Kitco];
Oil is currently trading Down $0.45 atm and is currently at $77.57/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.8976 cents [Source: Forex. Live].

Have a great day trading today all!

Cheers, Tweets (:

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