daytrades july 22 afternoon, page-2

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

'Market Focus' in the US this evening

"Markets reacted strongly to Ben Bernanke's first day of testimony. A second day gives the chairman a chance to fine tune his testimony." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from previous session (21.07.2010)

"Ben Bernanke's warning that the economic outlook is "unusually uncertain" pulled stocks lower in late trading. The Dow lost 1.2 percent to 10,104. The sound bite stands out in otherwise tame testimony as the chairman downplayed the risk of a double-dip recession. Money moved into the Treasury market with the 2-year yield down two basis points to 0.56 percent and the 30-year down a full 10 basis points to 3.88 percent. Oil lost 1.5 percent to $76.50 and gold slipped 0.3 percent at $1,185. Risk aversion helped the dollar which rose 0.7 percent on the dollar index." [Source: nasdaq.com., Mark Pender]
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Please note the following 'Economic news' which is due out in the US this evening:-

Ben Bernanke speaks [ Market moving indicator]
[Federal Reserve Chairman - (FOMC Voting Member) Testifying before the House Committee on Financial Services, U.S. House of Representatives for the Semiannual Monetary Policy Report to the Congress]

Existing Home Sales [ Market moving indicator]
[Existing home sales tally the number of previously constructed homes, condominium and co-ops in which a sale closed during the month. Existing homes (also known as home resales) account for a larger share of the market than new homes and indicate housing market trends. (National Association of Realtors)]

Jobless Claims [ Merits extra attention]
[New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.]

EIA Natural Gas Report [ Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on natural gas stocks in underground storage for the U.S., and three regions of the country. The level of inventories helps determine prices for natural gas products.]

William Dudley speaks
[New York Federal Reserve Bank President - Holds press briefing on the regional and national economic outlook in New York.]

Leading Indicators (MoM) (Jun)
[A composite index of ten economic indicators that should lead overall economic activity. This indicator was initially compiled by the Commerce Department but is now compiled and produced by The Conference Board. It has been revised many times in the past 30 years - particularly when it has not done a good job of predicting turning points.]

Money Supply
[The monetary aggregates are alternative measures of the money supply by degree of liquidity. Changes in the monetary aggregates indicate the thrust of monetary policy as well as the outlook for economic activity and inflationary pressures.]

3-Month Bill Announcement; 6-Month Bill Announcement; 52-Week Bill Announcement; 2-Yr Note Announcement; 5-Yr Note Announcement; 7-Yr Note Announcement [Weekly Bill Settlement]
[Treasury bills are sold at public auctions every week; and Treasury notes are sold at regularly scheduled public auctions.]

[Sources: nasdaq.com & fxstreet.com]
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... AND ...
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Please note the following 'Economic news' which is due to be released in Australia tomorrow:-

Import Price Index (QoQ) (Q2)
[Import Price Index informs the changes in the price of imported products. It''s released by the Australian Bureau of Statistics. The higher the cost of imported goods, the stronger the effect they will have on inflation, redunding in a higher probability of a rate rise. Therefore, a high reading should be taken as positive, or bullish, for the AUD.]

Export Price Index (QoQ) (Q2)
[Export Price Index informs of the changes in the price of exports. It's released by the Australian Bureau of Statistics. Agricultural products and minerals cover over the 60% of manufacturing exports. Thus, the changes in commodity prices affect the Australian economy. Low volatility for the AUD is expected. A rise in prices is a threat over the mid-term as higher prices mean lower demands to be expected.]

[Sources: nasdaq.com & fxstreet.com]
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ASX Market Watch (widget snapshot)

... and the DOW futures are currently Down 10 pts atm (Live).