Thanks Highlandlad, and Good Morning all,
US - Market Reflections - Tuesday 12th July, 2011
Discussion of QE3 at the FOMC could give only a brief lift to the stock market which is being pressured this week by the risk of European contagion, this time a Moody's rating cut for Ireland. The Dow lost 1/2 percent to 12,446. The QE3 talk did however give a sustained boost to gold which popped into record ground over $1,570.
Market Focus in the US this evening
There will be plenty of topics for Ben Bernanke: QE3, weak job growth, European contagion.
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The DJIA Index finished the trading session: Down 58.88 points; and
The the SPI Futures are currently trading: Up 1 point.
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On the 'Economic news' front, please note the following:-
Of note in the US this evening:
Ben Bernanke speaks
[Ben Bernanke (FOMC Voting Member) testifies before House Committee on Financial Services on Semiannual Monetary Policy Report to the Congress in Washington.]
Import and Export Prices
EIA Petroleum Status Report
Treasury Budget
Eric Rosengren speaks
[Boston Fed President - Speaks on the economic outlook.]
Richard Fisher speaks
[Dallas Fed President (FOMC Voting Member) - To speak on the economy.]
Of note in Australia today:
Westpac Consumer Confidence (Jul)
Of note elsewhere today/this evening:
United Kingdom - ILO Unemployment Rate (3M) (May)
China - Gross Domestic Product (YoY) (Q2)
Japan - Industrial Production (MoM) (YoY) (May)
Japan - Bank of Japan Monthly Economic Survey
United Kingdom - Claimant Count Change (Jun)
United Kingdom - Claimant Count Rate (Jun)
United Kingdom - Average Earnings including Bonus (3Mo/Yr) (May)
European Monetary Union - Industrial Production w.d.a. (YoY) (May)
New Zealand - Gross Domestic Product (QoQ) (YoY) (Q1)- denotes: Market Moving Indicator
- denotes: Merits Extra Attention
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Gold is currently sitting trading Up $0.10 atm and is sitting at US$1,567.40/oz atm;
Oil (Nymex Crude) is currently trading Down $0.65 atm and is sitting at US$96.78/bbl atm
The Dollar: The AUD is currently trading @ $1.0612c against the US Dollar
Sources used above: bloomberg.com; nasdaq.com; dailyfx.com; fxstreet.com; & kitco.com
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Have a great day.
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