daytrades dec 13 afternoon, page-2

Thanks Highlandlad!

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

'Market Focus' in the US this evening

"Watch for developments in Washington over the tax-cut extension." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (10.12.2010)

"Trade data proved very positive showing a jump in exports, which is good for jobs, and a rise in consumer imports which points to business confidence in retail sales. A rise in consumer sentiment is another good sign for retail sales. A bad sign for consumers is a price jump for imported goods reflecting high oil and high food prices.

Signs of economic growth and especially the likely extension of tax cuts made for a pivotal week in the Treasury market where, contrary to the plans of the Federal Reserve, rates rose sharply. The 2-year yield rose 15 basis points on the week to end Friday at 0.62 percent. The 10-year rose 31 basis points to 3.01 percent.

The jump in rates limited what otherwise would likely have been big gains for the stock market. The Dow never did get going this week, rising only slightly on Friday to 11,410. The dollar was little changed Friday, ending the week about one percent higher on the dollar index at 80.07. Oil ended Friday at $87.75 with gold at $1,385." [Source: nasdaq.com., Mark Pender]
______________________________________________________

Of note in the US this evening:-

4-Week Bill Announcement; 3-Month Bill Auction; and 6-Month Bill Auction
[Treasury bills are sold at public auctions every week.]

______________________________________________________

... AND ...
______________________________________________________

Of note in Australia tomorrow:-

Dwelling Starts (3Q) [ Moderate volatility expected]
[The number of construction starts on new homes in the past month. The figure, officially called Construction of Dwellings, measures growth in the construction sector and reflects the overall health of the housing market. Increased spending on expensive items like new homes reflects consumer optimism towards the economy. The headline number is the percentage change in Dwelling Starts from the previous month's figure.]

NAB Business Confidence (NOV) [ Moderate volatility expected]
[A survey of the current state of the business sector in Australia . Based on a survey of hundreds of small to large sized companies, the National Australia Bank delivers monthly and more comprehensive quarterly reports from statistical and antidotal data. This comprehensive survey primarily provides insight into the state of the Australian economy and puts forth leading indicators that signal its future direction. Thus the survey's findings, if unexpected, have the power to move markets directly. The National Australia Bank releases both a monthly and quarterly report. The quarterly is more comprehensive, surveying around 1000 small to large non-farm firms. The quarterly provides greater detail on the data as well as provides a short to mid-term outlook of Australia . Because of seasonal volatility and government protections the survey only excludes the farm sector.]

NAB Business Conditions (NOV)
[A survey of the current state of the business sector in Australia . Based on a survey of hundreds of small to large sized companies, the National Australia Bank delivers monthly and more comprehensive quarterly A219reports from statistical and antidotal data. This comprehensive survey primarily provides insight into the state of the Australian economy and puts forth leading indicators that signal its future direction. Thus the survey's findings, if unexpected, have the power to move markets directly. The National Australia Bank releases both a monthly and quarterly report. The quarterly is more comprehensive, surveying around 1000 small to large non-farm firms. The quarterly provides greater detail on the data as well as provides a short to mid-term outlook of Australia . Because of seasonal volatility and government protections the survey only excludes the farm sector.]

Westpac Consumer Confidence (Dec)
[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).]

[Sources used: nasdaq.com; bloomberg.com; fxstreet.com; dailymarkets.com; dailyfx.com; & ozforex.com.au]
______________________________________________________

ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 9 pts atm (Live)!