daytrades september 07 morning ...

Good Morning Traders (thanks for the handover in highlandlad's absence this week pj),

US Snapshot

"Stocks started September with a bang as investors cheered a rare dose of good economic news but investors may need to buckle in for the coming week: It's a holiday-shortened week with little on the docket to set the tone. The upbeat news eased some worries about a renewed recession, but many investors remain skeptical about the outlook for growth and the sustainability of last week's rally. "The economy is slowing, and appears to be nearing a crossroads," said Jim Baird, chief investment strategist for Plante Moran Financial Advisors. "It is too soon to determine whether a trip down the path toward a double dip recession is inevitable or if that outcome will be avoided." Others are more optimistic. "There's a very strong argument to be made that stocks are cheap," said Hugh Johnson, chairman of Johnson Illington Advisors." [Source: cnnmoney.com]

The DJIA Index finished last Friday's trading session Up 127.83 pts;
The Dow Futures finished the Trading Session Up 14 pts overnight; and
The SPI Futures are currently: Down 1 point atm.

Of Note in the US this evening:

Please note there is no noteworthy 'Economic news' due to be released in the US this evening;


... AND ...


Of note in Australia today:

RBA Interest Rate Decision (Sep 7) [High volatility expected]
[RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.]Sources Used: nasdaq.com; bloomberg.com & fxstreet.com]

RBA Monetary Policy Statement [Moderate volatility expected]
[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).]

Gold is trading Up $2.60 atm and is currently sitting at $1,249.20/oz [Source: Kitco];
Oil is currently trading Down $0.23 atm and is currently at $73.85/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.9145 cents [Source: Forex. Live]

Have a great day trading today all!

Cheers, Tweets (:

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