daytrades sep 29 afternoon, page-2

Thanks highlandlad!

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

'Market Focus' in the US this evening

"Pick up from a mid-summer housing hole may prove critical for the recovery. Take a look at the Mortgage Bankers purchase index and whether it bounces back after two weeks of losses." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (28.09.2010)

"Weakness in the jobs market more than offset strength in the stock market to make for a big drop in consumer confidence this month. Yet it didn't matter for the stock market which keeps on rallying, driven now by expectations for more central bank liquidity. The S&P rose 1/2 percent to 1,147. Central bank liquidity has also been fueling gains for gold which ended at a new high of $1,308. Demand for Treasuries is still hot, helped by the prospect of direct purchasing by the Fed. The yield on the 30-year Treasury fell more than five basis points to 3.66 percent." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

EIA Petroleum Status Report [ Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.]

Narayana Kocherlakota speaks
[Minnesota Federal Reserve Bank President - Speech on the economic outlook and monetary policy to the European Economics & Financial Centre in London.]

Charles Plosser speaks
[Philadelphia Federal Reserve Bank President - Speech on unwinding monetary stimulus to the Greater Vineland Chamber of Commerce in Vineland, New Jersey.]

Eric Rosengren speaks
[Boston Federal Reserve Bank President - Speaks to the Forecasters Club in New York.]

MBA Purchase Applications
[The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.]

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. For most items, the current month's preliminary price represents a 3-5 day period around the 15th of the month. However, previous month's prices (revised) cover the entire month. The index is not adjusted for seasonal variation. It includes crop prices and livestock & product prices. Farm prices are monitored by analysts to give early warnings of inflation or deflationary pressures in the economy.]

7-Yr Note Auction
[Treasury notes are sold at regularly scheduled public auctions.]

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... AND ...
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Of note in Australia tomorrow:-

HIA New Home Sales (MoM) (Aug) [ Moderate volatility expected]
[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).]

Private Sector Credit (MoM) (YoY) (Aug) [ 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.]

AiG Performance of Mfg Index (Sep) [ 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).]

Building Permits (MoM) (YoY) (Aug)
[The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.]

[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 Up 10 pts atm (Live)!