1pm - 'Economic news' courtesy reminder time Traders!
'Market Focus' in the US this evening
"Acceleration in manufacturing would improve the second-half outlook. Watch for the manufacturing component of the industrial production report." [Source: nasdaq.com., Mark Pender]
'Market Reflections' from the last trading session (15.10.2010)
"Ben Bernanke's reassurance that the Fed will provide new accommodation if needed topped a heavy day of economic news. Retail sales jumped in September and are finally above their level in April, closing out the right side of a small crater in their recovery slope. Consumer prices outside of food and energy were once again very soft, raising questions over disinflation and giving the Fed more accommodative scope. Solid strength in the New York manufacturing region is a clear positive, while still sinking consumer sentiment is a negative.
The most urgent headlines are coming out of the banking sector, shares of which, based on the KBW Bank Index, slid 2-1/2 percent for a second day on Friday. The impact of a foreclosure moratorium on bank profits and on housing supply and home prices is unknown. The Dow fell three tenths on the session to 11,062, a contrast to the Nasdaq which rose 1.4 percent to 2,468 following strong results from Google.
The dollar's slide eased with the dollar index up four tenths to end the week at 76.98. Gold is at $1,368 with oil near $81.50. Short rates were down, the 2-year ending at 37 basis points, while long rates were up with the 30-year at 3.99 percent." [Source: nasdaq.com., Mark Pender] ______________________________________________________
Of note in the US this evening:-
Industrial Production [ Market moving indicator] [The index of industrial production is available nationally by market and industry groupings. The major groupings are comprised of final products (such as consumer goods, business equipment and construction supplies), intermediate products and materials. The industry groupings are manufacturing (further subdivided into durable and nondurable goods), mining and utilities. The capacity utilization rate -- reflecting the resource utilization of the nation's output facilities -- is available for the same market and industry groupings.]
Treasury International Capital [ Merits extra attention] [These Treasury data track the flows of financial instruments into and out of the United States. Instruments tracked include Treasury securities, agency securities, corporate bonds, and corporate equities.]
Housing Market Index [ Merits extra attention] [The National Association of Home Builders produces a housing market index based on a survey in which respondents from this organization are asked to rate the general economy and housing market conditions. The housing market index is a weighted average of separate diffusion indexes: present sales of new homes, sale of new homes expected in the next six months, and traffic of prospective buyers in new homes.]
Net Long-term & Total Net TIC Flows (Aug) [ Moderate volatility expected] [The total Net TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flows is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. Generally speaking, a high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).]
Dennis Lockhart speaks [Atlanta Federal Reserve Bank President - Speech on the economy in Savannah, Georgia.]
Capacity Utilization (Sep) [The Capacity Utilization released by the Federal Reserve Board is the percentage of the US production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the U.S. economy. A high capacity utilization stimulates inflationary pressures. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).]
4-Week Bill Announcement; 3-Month Bill Auction; and 6-Month Bill Auction [Treasury bills are sold at public auctions every week.] ______________________________________________________
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Of note in Australia tomorrow:-
RBA Meeting's Minutes (Oct 18) [The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.]
1pm - 'Economic news' courtesy reminder time Traders!
Market moving indicator]
Merits extra attention]
