1pm - 'Economic news' courtesy reminder time Traders!
'Market Focus' in the US this evening
"Watch for market reaction and any official reaction in Asia to yesterday's FOMC stimulus." [Source: nasdaq.com., Mark Pender]
'Market Reflections' from the last trading session (03.11.2010)
"The Fed will add another $600 billion to its $1.7 trillion in direct purchases so far this recovery cycle, a little more than expected yet not enough to fire up much enthusiasm. The new purchases will extend through the second quarter next year and if the jobs market doesn't pick up by then, QE3 can be expected given the Fed's promise to monitor progress and adjust the program as needed. The underlying question is whether lower rates will significantly stimulate borrowing and investment.
The Dow rose 0.2 percent to 11,215 in mild reaction to the results while the dollar index fell 0.3 percent to 77.07.
Fed purchases will be centered in the middle of the yield curve, not the longer end as many had expected making for slightly lower rates on the short to middle part of the curve and a 12 basis point jump in the 30-year yield to 4.05 percent. Oil rose $1 to $85 while gold slipped slightly to just under $1,350." [Source: nasdaq.com., Mark Pender] ______________________________________________________
Of note in the US this evening:-
BOE Announcement [ Market moving indicator] [The Bank of England announces its monetary policy with regard to interest rates monthly.]
ECB Announcement [ Market moving indicator] [The European Central Bank announces its monetary policy with regard to interest rates usually during its first meeting of the month.]
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.]
Productivity and Costs [ Merits extra attention] [Productivity measures the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends.]
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.]
Monster Employment Index [The Monster Employment Index is a comprehensive monthly analysis of U.S. online job demand. It is conducted by Monster Worldwide, Inc. and is based on a real-time review of a large, representative selection of career sites and job boards, including Monster," according to Monster Worldwide. The Index presents a snapshot of employer online recruitment activity nationwide. It was launched in April 2004 with data collected since October 2003.]
Chain Store Sales [Monthly sales volumes from individual department, chain, discount, and apparel stores are usually reported on the first Thursday of each month. Chain store sales correspond with roughly 10 percent of retail sales. Chain store sales are an indicator of retail sales and consumer spending trends.]
Nonfarm Productivity (Q3) [The Non-farm Productivity released by the Bureau of Labor Statistics of the US Department of Labor shows the output per Hour of labor worked. Non-farm Productivity indicates the overall business health in the US, which has an influence on GDP. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).]
Unit Labor Costs (Q3) [The Unit Labor Cost released by the Bureau of Labor Statistics, Department of Labor shows a total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation. A high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative ,or bearish.]
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.]
Treasury STRIPS [A report on the amount of net stripping of Treasury securities that has taken place during the month. The report details gross stripping and reconstitution of Treasury notes and bonds by individual issue.]
3-Month Bill Announcement; 6-Month Bill Announcement; and 10-Yr TIPS Auction [Weekly Bill Settlement] [Treasury bills are sold at public auctions every week; and The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions.] ______________________________________________________
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Of note in Australia tomorrow:-
RBA Monetary Policy Statement (Nov) [ Market moving indicator] [The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish).]
1pm - 'Economic news' courtesy reminder time Traders!
Market moving indicator]
Merits extra attention]
