daytrades oct 29 afternoon, page-2

Thanks highlandlad!

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

'Market Focus' in the US this evening

"Stronger than expected GDP data could scale back expectations for second-round quantitative easing. Weak results would seal expectations for aggressive easing." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (28.10.2010)

"News that the Federal Reserve is asking bond dealers about the effect of asset purchases renewed talk for a sizable quantitative easing program beginning with next week's FOMC statement. The dollar fell steeply on the news, news that trumps yesterday's press reports for a smaller-than-expected program. The dollar index fell 1.1 percent to 77.27.

Earnings were mostly positive though diversified manufacturer 3M drew the most attention, offering a cautious view of the economy. The Dow ended fractionally lower at 11,109. Gold rose $20 to $1,345 while oil was steady at $82." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

GDP [ Market moving indicator]
[Gross Domestic Product (GDP) is the broadest measure of aggregate economic activity and encompasses every sector of the economy.]

Reuters/Michigan Consumer Sentiment Index (Oct) [ High volatility expected]
[The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

Employment Cost Index [ Merits extra attention]
[A measure of total employee compensation costs, including wages and salaries as well as benefits. The employment cost index (ECI) is the broadest measure of labor costs.]

Real Personal Consumption Expenditures (QoQ) (Q3) [ Merits extra attention]
[The Real Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average of the amount of money the consumers spend in a month on durable goods, consumer products, and services.. It is considered as an important indicator of inflation. Generally speaking, a high reading is bullish for the USD, while a low reading is bearish.]

Chicago Purchasing Managers' Index (Oct)
[The Chicago Purchasing Managers Index released by the Kingsbury International captures business conditions across Illinois, Indiana and Michigan. This index is an indicator of business trends and it is interrelated with the ISM manufacturing Index. It is widely used to indicate the overall economic condition in US. A result above 50 is bullish for the USD, whereas a result below 50 is seen as bearish.]

Farm Prices
[The Department of Agriculture releases at the end of the month the index of prices received by farmers for the current month. This report is entitled Agricultural Prices. Prices received represent sales from producers to first buyers. They include all grades and qualities.]

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... AND ...
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Of note in Australia on Monday of next week:-

AiG Performance of Mfg Index (Oct) [ Moderate volatility expected]
[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).]

TD Securities Inflation (MoM) (YoY) (Oct) [ Moderate volatility expected]
[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.]

House Price Index (QoQ) (Q3) (YoY) [ Moderate volatility expected]
[The House Price Index released by the Australian Bureau of Statistics shows changes in housing prices of major cities in Australia. The housing prices are considered as a key indicator for inflationary pressures. A high reading is seen as positive or ( Bullish ) for the AUD, while a low reading is seen as negative ( or Bearish ).]

National Australia Bank's Business Conditions (Oct)
[The NAB�s Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

RBA Commodity Index SDR (YoY) (Oct)
[The RBA Commodity Price SDR released by the Reserve Bank of Australia is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the AUD, while a decrease in prices may indicate weakness of the AUD. A high reading is seen as bullish for the AUD, whereas a low reading is seen as bearish.]

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



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 31 pts atm (Live)!