daytrades oct 21 afternoon, page-2

Thanks highlandlad!

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

'Market Focus' in the US this evening

"Columbus Day distortions have passed, offering a clear view of initial jobless claims." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (20.10.2010)

"Prices have been everywhere in recent sessions, straining everyone's guesses at cause and effect. Perhaps the swings are a sign that the big rally for the stock market is losing steam. The Dow, at 11,107, jumped 1.2 percent today but failed to recover yesterday's loss of 1.5 percent. Earnings from Boeing and Delta Air Lines gave the session a lift while a mildly improving economic assessment in the Beige Book had no effect.

The dollar has been really swinging back and forth this week, losing 1.3 percent on the dollar index following yesterday's 1.7 percent gain. The dollar hit a new low against the yen at Y80.84. Perhaps the best that can be said about Japanese intervention is that it's slowed the yen's rise? Oil shot back to $82.50 while gold regained some of yesterday's giant $40 loss to end at $1,345." [Source: nasdaq.com., Mark Pender]
______________________________________________________

Of note in the US this evening:-

Philadelphia Fed Survey [ Market moving indicator]
[The general conditions index from this business outlook survey is a diffusion index of manufacturing conditions within the Philadelphia Federal Reserve district. This survey, widely followed as an indicator of manufacturing sector trends, is correlated with the ISM manufacturing index and the index of industrial production.]

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.]

James Bullard speaks
[St Louis Federal Reserve Bank President - Opening remarks to the Annual Economic Policy Conference in St. Louis. ]

Thomas Hoenig speaks
[Kansas City Federal Reserve Bank President - Speech in Albuquerque, New Mexico.]

Leading Indicators (MoM) (Sep)
[The Leading Indicators released by the Conference Board measures future trends of the overall economic activity including employment, average manufacturing workweek, initial claims, permits for new housing construction, stock prices and yield curve. It is considered as a measure for economic stability in United States. This event generates some volatility for the USD. Normally, a high reading is seen as positive (or bullish).]

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; 2-Yr Note Announcement; 5-Yr Note Announcement; 7-Yr Note Announcement; and 5-Yr TIPS Announcement [Weekly Bill Settlement]
[Treasury bills are sold at public auctions every week; Treasury notes are sold at regularly scheduled public auctions; and The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions.]

______________________________________________________

... AND ...
______________________________________________________

Of note in Australia tomorrow:-

Import Price Index (QoQ)
[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)
[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 used: nasdaq.com & fxstreet.com]
______________________________________________________

ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Up 1 point atm (Live)!