daytrades july 13 morning ...

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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