daytrades may 31 morning ...

Good morning Traders (thanks for the handover highlandlad),

Dow Snapshot

"Stocks tumbled Friday at the end of the Dow's worst month in 70 years, after a downgrade of Spain's debt reminded investors that Europe's economic woes continue. Stocks were already weak before the ratings agency cut Spain's debt one notch. While the cut still leaves the debt in investment grade territory, as opposed to junk, it nonetheless managed to rattle investors in a thinly-traded session. "People were expecting a nice slow day and then the Spain news turned things around," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "It may have been anticipated, but It's still a big deal," he said. "It tells us we are not out of the woods yet."" [Source: cnnmoney.com]

The DJIA Index finished the session: Down 122.36 pts; and
The SPI Futures are currently: Down 42 pts atm.

Of Note in Australia Today:

Private Sector Credit (MoM) (YoY) (Apr) (Moderate volatility expected)
[The Private Sector Credit released by the Reserve Bank of Australia is an amount of money that the Australian private sector borrows. It shows if the private sector can afford large expenses, which can fuel economic growth. It is considered as an indicator of business conditions and the overall economic condition in Australia. Generally, a high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative.]

Current Account Balance (Q1)
[The Current Account Balance released by the Australian Bureau of Statistics is a net flow of current transactions, including goods, services, and interest payments into and out of Australia. A current account surplus indicates that the flow of capital into Australia exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative (or Bearish).]

Company Gross Operating Profits (QoQ) (Q1)
[The Company Gross Operating Profits released by the Australian Bureau of Statistics measures the total amount of pre-tax profits earned from business activities, excluding interest expense on borrowing and valuation adjustments. A high reading is seen as positive (or bullish) for the AUD because good business conditions are a sign of a strong consumer spending and import/ export activity, while a low reading is seen as negative (or bearish).]

HIA New Home Sales (MoM) (Apr)
[HIA New Home Sales released by the Housing Industry Association presents the number of new home sales in Australia. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees. Thus, a high reading is seen as bullish (or positive) for the AUD, whereas a low reading is seen as bearish (or negative).]

TD Securities Inflation (MoM) (YoY) (May)
[TD Securities Inflation released by The University of Melbourne - Faculty of Economics and Commerce estimates inflation in the Australian economy. The higher inflation, the stronger the effect it will have on a probability of a rate hike by the RBA. Generally speaking, a high reading should be taken as positive, or bullish, for the AUD, while a low reading is seen as negative or bearish.]

AiG Performance of Mfg Index (May)
[AiG performance of the Mfg Index released by the Australian Industry Group presents business conditions in the Australian manifucturing sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]

Of Note in the US tonight:

NB: There is no 'Economic news' due out in the US this evening as it is Memorial Day in the US and all markets are closed.

Gold Futures: Gold is Down $3.40 atm and is currently sitting at $1,210.90/oz (Kitco);
Oil Futures: Oil is Down $.09 at $73.88/barrel (NYMEX/Bloomberg); and
The Dollar: The AUD/USD is currently trading at 0.8451 cents (Forex. Live).

Have a great day trading today all!

Cheers, Tweets (:

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