08:30 Nov Import Price Index (last m/m 0.7%, y/y -5.7%), Nov Advance Retail Sales (last 1.4%, ex auto 0.2%)
09:55 Dec prelim Univ of Michigan confidence (last 67.4)
10:00 Oct Business Inventories (last -0.4%)
Todays Headlines
8:20:50 AM
(UK) DMO to sell £225B in Gilts (prior £220B) in current FY
*note: It was erroniously reported during Chancellor Darlings pre-budget speech that the FY Gilt sales would be held at previous target
8:30:43 AM
(US) USDA December Crop Report: All cotton production +1% m/m, All orange production -1% from Oct
- Cotton production is forecast at 12.6M 480-pound bales, up 1% from last month but down 2% from last year.
- U.S. all orange forecast for the 2009-10 season is 8.20M tons, down 1% from the October 1 forecast and down 11% from the 2008-09 final utilization. The Florida all orange forecast, at 135M boxes (6.08M tons), is down 1% from the previous forecast and down 17% from last season's final utilization.
8:30:01 AM
*(US) INITIAL JOBLESS CLAIMS: 474K V 455KE; CONTINUING CLAIMS: 5.157M V 5.450ME
- Prior Continuing Claims revised from 5.465M to 5.460M
10:01:56 AM
(DE) Danish Central Bank: Cuts Key interest to 1.20% from 1.25% (ninth rate cut for 2009)
- CD interest rate cut to 0.95% from 1%
**Note: Denmark has made numerous interest rate cuts in recent quarters with FX purchases cited as a factor. The Central Bank has cut interest rate 11 tiimes in the current easing cycle from 5.50% level seen on Oct 2008
12:00:15 PM
(US) Fed reports Q3 Flow of Funds: Household wealth up $2.67T, to $53.4T in total
- Home mortgage debt annualized rate -3.5% v -1.5% q/q
- Consumer credit annualized rate -3.25% v -6.5% q/q
- Household debt annualized rate -2.5% v -1.75% q/q
- Domestic non financial debt annualized rate 2.75% v +5% q/q
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
(UK) DMO to sell £225B in Gilts (prior £220B) in current FY
*note: It was erroniously reported during Chancellor Darlings pre-budget speech that the FY Gilt sales would be held at previous target
8:03:24 AM
(UK) UK Darling confirms no windfall tax on bank profits; will charge 50% tax rate on bonuses over £25K
-Expects £550M in receipts from the tax on bonuses; with the taxes on bonuses to be paid by the Banks and not the individuals
- announces plans to freeze inheritance allowance at £325K
9:21:45 AM
(UA) Moody's puts ratings of government-related issuers (GRIs) in the UAE and Abu Dhabi on review for possible downgrade
- This includes all GRI's that are owned by either the federal UAE government, or the government of Abu Dhabi. The review was prompted by a need to re-validate, and possibly reconsider our support assumptions following Dubai's recent decision to explicitly segregate its direct obligations from those of its GRIs, following which a decision was subsequently made to pursue a debt restructuring at Dubai World.
9:31:04 AM
(US) Treasury Sec Geithner: Formally asks Congress to extend TARP to Oct 2010 (as expected); does not expect US to deploy more than $550B
***Reminder: On 12/8 ABC news reported that the Obama Administration may extend TARP until Oct 2010 vs current expected end of 12/31/2009.
10:00:02 AM
*(US) OCT WHOLESALE INVENTORIES: 0.3% V -0.5%E
- Prior revised from -0.9% to -0.8%
- Inventory to Sales ratio 1.16 v 1.17 m/m
- Represents first rise in inventories in more than one year
1:01:39 PM
*TREASURY'S $20B 10-YEAR NOTE REOPENING DRAWS 3.448%; BID-TO-COVER RATIO: 2.62 V 3.01 PRIOR AND 2.85 OVER THE LAST 5
- Indirect bidders take 34.9% of competitive bids, with 67.28% allotted at high
- Median 3.36%, Low 3.3%
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
10:00 Oct Wholesale Inventories (last -0.9%)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
13:00 Treasury's 10-year auction
Todays Headlines
8:08:32 AM
(GR) Greece Fin Min Papaconstaninou: Fitch rating downgrade lacks credibility; does not reflect the country initiative to address the budget deficits
- Greece is committed to reduce its deficit and has a plan
- Would submit supplementary budget if necessary
9:00:06 AM
*(CA) BANK OF CANADA LEAVES INTEREST RATES UNCHANGED AT 0.25%; AS EXPECTED (Views consistent with Oct report)
- Canadaian growth to become more solidly entrenched
- Risks to economic outlook remain roughly balanced
- Reiterated that strong CAD currency could be a significant drag on growth
- Inflation risks remain tilted downward; Inflation back to target in H2 2011 period
11:24:22 AM
(US) President Obama: Looking to cut capital gains tax to zero for one year for small businesses, implement tax cuts for small businesses
- Reiterates committment to halve the budget deficit by end of first term
- Plans to wind down TARP program; claims has served its purpose
- Working with Congress to extend unemployment insurance and COBRA health insurance
11:31:31 AM
(EU) EU's Borg: Will reach debt levels in the near term which are unsustainable; there are signs of stabilization with recovery expected in 2011
- says economic policy must be expansionary in the near term
12:06:34 PM
(EU) ECB's Stark: Must anticipate that future market problems may occur in future months and quarters; financial markets stabilized due to Govt intervention
- Leaving interest rates too low for too long can lead to new problems.
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
09:00 BoC rate decision
10:00 Dec IBD/TIPP Economic Optimism (last 47.9)
13:00 Treasury's 3-year auction
16:30 API Crude Oil/Gasoline/Distillate Inventories
Todays Headlines
10:05:22 AM
(GR) S&P places A- Greece rating on credit watch negative
- cites fiscal consolidation plans by the new Govt as unlikely to secure a sustained reduction in fiscal deficits and debt burden
10:34:54 AM
(RU) Reportedly Rusal Hong Kong IPO seen being delayed until Q1 2010
***Reminder: On Dec 2 -Hong Kong Stock Exchange again delays hearing regarding allowing a Rusal IPO to proceed; to hold a hearing on Dec 7th - FT
12:05:18 PM
FDA makes interim recommendations regarding prevention of excess radiation exposure during CT imaging
- The FDA issued an initial safety notification in October after learning of 206 patients who had been exposed to excess radiation at Cedars-Sinai Medical Center in Los Angeles over an 18-month period. Since then, the FDA, working with state and local health authorities, has identified at least 50 additional patients who were exposed to excess radiation of up to eight times the expected level during their CT perfusion scans.
12:33:55 PM
Fed's Bernanke: There is some way to go before we can be sure the US economic recovery is self sustaining
- Sees modest growth in 2010, enough to lower unemployment rate.
- Household spending is unlikely to grow rapidly
- US economy still facing "significant headwinds," headwinds for growth include tight credit and the weak job market.
1:46:24 PM
US Pres Obama: Some TARP capital may be allocated towards deficit reductions; a job plan
- Note: House Speaker Pelosi commented last week that TARP capital would be put towards job plan
1:42:57 PM
BoA/Merrill Lynch see 1120 and 1084 as key levels for S&P500
- According to BoA/Merrill analysts, bullish signal if S&P 500 closes above 1120, bearish signal if the S&P closes below 1084.
- See a break of 1120 would target a move to 1200-1250.
- Near-term resistance for the S&P 500 is 1100-1120.
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
December 05, 2009
Weekly Wrap Up
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Market Week Wrap-up
- Trading began on a positive note this week, as indices pushed out to a fresh 13-month highs despite the slide in the November Empire Manufacturing data on Monday. Equity indices were flat mid week as October housing starts declined to their lowest level since April, and building permits came in to the downside and corporate news remained fairly light. On Wednesday the Baltic Dry Index rose to its highest levels since last September, another milestone of the Asian recovery. But things fell apart on Thursday as equity weakness in Asia on concerns of a growing asset bubble carried through into European and US trading, firmly knocking US equities off their highs. Light volume and the weekly jobless claims data were a contributing factor, as the data came in very modestly higher. Bleak earnings from Dell and USD strength kept equities weak into the close on Friday. For the week, the Nasdaq composite led the way down, weighed on by a note from Merrill downgrading the tech sector, including such heavyweights as Intel and Microsoft: the Nasdaq dropped 1.0%, the S&P 500 declined 0.2%, while the DJIA eked out a 0.4% gain,
- The week commenced with markets squarely focused on the first official remarks from Fed Chairman Bernanke since the FOMC meeting two weeks ago. The advanced text of his speech to the NY economics club appeared heavy on strong US dollar rhetoric, providing some hope for the weary greenback. This rhetoric was quickly dismissed as it became clear that a continued low inflation outlook coupled with a dismal employment picture will force the Fed to keep rates low for an extended period of time. In the Q&A session, the Chairman acknowledged that the Fed needs to deal with the possibility of developing asset bubbles, but noted he has yet to see any "large misalignments" in US valuations. The weaker-than-expected US Producer Price Index and Industrial Production data only confirmed Bernanke's comment that significant challenges still face the US economy and prompted many to speculate that the FOMC's long period of low borrowing costs might get even longer. As PIMCO's Bill Gross wrote in his monthly outlook this week, the US needs another 12 months of 4-5% nominal GDP growth before the Fed dares exiting the "0% foxhole, mini-bubbles or not."
- Many participants took Bernanke's comments to mean the door will remain open to the notion of the US Dollar as a funding currency and the accompanying expansion of risk appetite. The Fed's Yellen only added strength to this argument (and raised some eyebrows) when she said on Wednesday that the US stock market is not overvalued and credit spreads do not reflect a bubble. In addition, the Fed's Bullard gave markets a history lesson, warning that the FOMC did not begin rate increases until two to three years after the end of each of the past two recessions. The comment was misinterpreted and immediately sparked rumors that Bullard had said the Fed would be "on hold" until 2012, providing bearish dollar momentum and boosting spot gold to yet another all-time high.
- Financial names helped push overall equity markets lower this week, especially after another serving of doom and gloom from Meredith Whitney. On Monday she said "I have not been this bearish on financials in a year" and reiterated that banks will need to raise more capital. The press speculated that the administration would extend TARP through 2010 (last week it was reported that TARP has $239B in unspent funding). On the positive side, October credit card master trust data showed that on the whole net charge offs declined sequentially for a second month in a row, offering more evidence that the business is stabilizing. The October advanced retail sales data jumped dramatically, to a 1.5% gain versus a 1.5% decline in September, although many commentators pointed out that the data owes most of its big gain to auto sales. Continuing discussions of a Tobin Tax on financial transactions lurked in the background in both the US and Europe.
- Commodities, not surprisingly, benefited from the strengthening belief that rates won't change any time soon. Gold prices continue to garner the lion's share of headlines: the metal hit all time highs above $1,150 late in the week and closed not far below this level. Despite the run up, hedge fund guru John Paulson announced plans to launch a new gold fund on January 1st, backed by his own money. Following in gold's wake, silver and copper are trading near their best levels of 2009. Oil gave some ground late in the week while distillates underperformed on Friday on concerns that building inventories will outstrip demand. January WTI is now the most actively traded contract and closed below its 20-day EMA for the second straight week.
- Treasury prices surged on Monday helped by the fallout from Bernanke's comments. The 10-year yield has spent the duration of the week under its 200 day EMA for the first time since early October. The move at the short end of the curve has been even more dramatic. Some T-bill rates went negative on Thursday while the 6-month bill hit its lowest rate on record. The 2-year yield made fresh 14-month lows below 0.7% while the curve experienced some steepening midweek. CPI data came in a little hotter than expected buoying long end yields. The benchmark spread has widened out towards its highest level in months at 265 basis points.
- In currency trading, the greenback has only benefitted from lower equities and generally supportive comments from a variety of sources, with the exception of some non-conciliatory rhetoric out of the Sino-American summit. Traders were fixated all week on an alleged defense of a binary option with a range of 1.48 to 1.51 by a Far East central bank. The lower portion was tested several times ahead of its expiration at the Friday NY cut, with plenty of central bank speak, data and rumors helping EUR/USD probe both ends of the option. Just ahead of the Friday cut, a particularly creative rumor made the rounds that Ukraine had defaulted on its sovereign debt. In Europe, more factual sovereign ratings worries impacted the euro briefly, as Greece attempted to plug revenue holes in its 2010 budget via a worrisome combination of tax increases and spending cuts. Now that 2009 is winding down liquidity conditions should be impacted in the final weeks of the year by some long-term participants moving to the sidelines to focus on their game-plans for next year.
- During his visit to Beijing, President's Obama voiced his approval of China's recent comments about moving toward a more market-oriented exchange rate. Chinese President Hu had no comment on the subject. The Chinese vice minister of foreign affairs followed up on the subject later, insisting that China's stance on exchange rate was very clear, that there had been a misunderstanding about currency reform and that exchange rates were a secondary component in resolving global imbalances. In the wake of the US visit, IMF Chief Strauss-Kahn reiterated that a stronger yuan would benefit China by increasing domestic demand. Note that in his monthly outlook, PIMCO's Bill Gross forecasted that China may abandon its dollar peg within six months' time and with it, its own easy monetary policy. On the positive side, ECB Chief Trichet slightly altered his strong dollar statement, noting that a strong dollar was "in the international interest" rather than the usual comment that the US wants a strong dollar. OPEC President Vasconcelos said OPEC needs to "reflect" on pricing oil in dollars. But despite all the talk, the dollar's current course seems likely to remain intact until the Fed turns up the rhetoric on its exit strategy.
- Throughout the week, Central bank officials around the world discussed measures designed to fend off currency appreciation. Officials in India, South Korea and Indonesia expressed concern about capital inflows over inflating stock and real estate prices. Indonesia's central bank said it is studying limits on inflows to short-term bills. Note that last week Taiwan banned international investors from placing funds in time deposits. Brazil also presented details on its plans to tax capital inflows in an attempt to discourage speculation and excessive strength in the Brazilian Real. The Russian Central Bank mentioned that a Tobin Tax could be needed to curb speculative cross-border currency flows. Some commentators called all this talk by its true name: protectionism.
- The week in Asia saw the Bank of Japan leave interest rates unchanged at 0.1% while also upgrading its assessment on the economy in spite of the recent disappointments from consumer confidence, manufacturing activity and tertiary industrial data. In a unanimous decision, BOJ said the decline in consumer prices as well as CAPEX are likely to keep narrowing as exports and production continue to improve. JGB yields rose in the wake of the central bank decision, as the market cheered the positive assessment at a time when many have questioned the timing of the BOJ decision to pull out from its asset buying program. With the latest move, Japan's central bank is also likely to have widened the rift with the new administration, whose vocal outlook has been significantly more cautious. Ahead of the central bank decision, Finance Minister Fujii said that rising yields could defeat the purpose of government action to ease funding for small companies and urged policymakers to keep price trends in mind when managing the economy. A more vocal critic, Deputy Prime Minister Kan said he planned to take additional steps to communicate to the Bank of Japan that the nation is in deflation. Subsequently, the Japanese November Cabinet Monthly Report officially declared the economy in deflation, the first time it did so since 2006.
- Early in the week, the Japanese economy posted its second consecutive quarter of growth in Q3 with better than expected preliminary GDP data, coming in at 1.2% quarter over quarter, showing the best growth rate since early 2007. Despite the strong headline data, analysts remained cautious, pointing to further uncertainty as fiscal stimulus effects wane. Japanese government officials were also hardly impressed, reaffirming commitment to a secondary extra budget totaling as much as Y2.7T, warning about deflationary trends in prices, and pointing to ongoing softness in the labor market.
- The Australian dollar was one of the more heavily sold majors for much of the week, falling to a two-week low around 0.9140. On Tuesday, the meeting minutes of the RBA's policy meeting left the pace of tightening open ended, stressing the short-term significance of supporting business and consumer confidence as economic stimulus fades. Policymakers did reiterate that underlying inflation is consistent with 2010 targets and not as low as initially thought, even with Aussie dollar strength countering those price pressures. Then on Wednesday, the Australian dollar extended its correction from the recent multi-month highs against the greenback and other majors on slowing Q3 wage growth data. Year over year wage growth came in at 3.6%, nearly a 5-year low.
Week of 12/7/2009 thru 12/11/2009
The weekly calendar for Dec. 7th – Dec. 11th can be accessed at the following address
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
8:30 Nov Nonfarm Payrolls (last -190K), Nov Unemployment Rate (last 10.2%), Nov Manufacturing Payrolls (last -61K), Nov Average Hourly Earnings (last m/m 0.3%, y/y 2.4%)
10:00 Oct Factory Orders (last 0.9%)
Todays Headlines
9:25:43 AM
(US) Moody's: Outlook for US banks continues to be Negative (post Q3), substantial asset quality issues remain for rated US banks
- In its latest quarterly report on the US banking system, Moody's reiterates its opinion that substantial asset quality issues remain for rated US banks.
- Believes rated US banks have recognized approximately 40% of the loan charge-offs that will be realized from 2008 to 2010 and anticipates these losses will continue to make many US banks unprofitable in 2010.
10:00:54 AM
ECB's Weber: Most economies are recovering slowly and attributed to fiscal measures
- Need more symmetrical approach to monetary policy; cannot be late with policy adustments
- Highlights that the ECB outlook is currently positive with a moderate bias
- Requiring tightening of bank capital requirements too quickly could harm growth
- New German GDP projections are seen as being more favorable to growth
8:33:50 AM
(EU) ECB's Trichet: ECB has decided Dec to be last 12 month repo operation, to be conducted at average of benchmark rate over life of operation, last 6-month main repo on Mar 31 2010
- ECB to maintain full allotment fixed rate main refis at least thru April 2010
- Reiterates that interest rates are appropriate, price developments to remain subdued
9:56:15 AM
White House: Seeing signs that unemployment data tomorrow may tick upward
- Note: Oct Unemployment rate stood at 10.2%, with current estimates for Nov unemployment at 10.2%
11:03:56 AM
Fed's Bernanke: Fed will not monetize the debt; US cannot continue to run high deficits; will maintain strong commitment to price stability; thinking a lot about exit strategy
- says US deficit needs to be in 2-3% of GDP range over time
- notes that the Fed may not be able to halt the increse in real interest rates if the deficits remain high; debt to GDP ratio cannot move higher indefinitely and must come down
- claims that some deficits are not permanent, but others may become so if entitlement spending is not addressed
10:49:24 AM
CNBC reports White House's Press Secretary Gibbs says it is incorrect to state that it expects unemployment to rise tomorrow, the White House has not seen the numbers in advance
- an earlier report cited Gibbs as saying they are seeing signs that unemployment data tomorrow may tick upward.
11:47:29 AM
(US) Fed Chairman Bernanke: It is imperative that Congress develop a solution to the "too big to fail" issue
- Highlights that a resolution authority should most importantly include the FDIC, with a Treasury role to reflect some political will. Comments that the Fed should not be a part of the resolution authority outside of any necessary temporary liquidity programs necessary to conduct such a process.
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
December 02, 2009
DOUBLE-CLICK ON THIS VIDEO TO SEE THE SECOND PART OF THIS VIDEO
7:45 ECB rate decision
8:30 Final Q3 Nonfarm Productivity (last 9.5%), Q3 Unit Labor Costs (last -5.2%), Initial Jobless Claims (last 466K), Continuing Claims (last 5.423M)
10:00 Nov ISM Non-Manufacturing (last 50.6)
10:30 Natural Gas Inventories
11:00 Treasury Note Announcement
Todays Headlines
9:25:43 AM
(US) Moody's: Outlook for US banks continues to be Negative (post Q3), substantial asset quality issues remain for rated US banks
- In its latest quarterly report on the US banking system, Moody's reiterates its opinion that substantial asset quality issues remain for rated US banks.
- Believes rated US banks have recognized approximately 40% of the loan charge-offs that will be realized from 2008 to 2010 and anticipates these losses will continue to make many US banks unprofitable in 2010.
10:30:07 AM
*DOE CRUDE: +2.1M V 0.0E; GASOLINE: +4M V +750KE; DISTILLATE: -1.1M V -500KE; CAPACITY UTILIZATION: 79.7% V 80.8%E
- Distillate demand -82K bpd to 3.58M bpd
- Gasoline demand -149K bpd to 8.94M bpd
11:47:13 AM
(US) Goldman Sachs forecasts 2010 US GDP +2.1%, +2.4% in 2011
- Forecasts Euro Zone 2010 GDP +1.5%, +1.9% in 2011
- Forecasts Japan 2010 GDP +1.5%, +1.6% in 2011
12:16:05 PM
Preview: Richmond Fed President Lacker scheduled to speak on the economic outlook at 12:30pmET
- Advance text and Q&A are yet to be determined.
- Lacker is a voting member.
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
7:30 Nov Challenger Job Cuts y/y (last -50.7%)
8:15 Nov ADP Employment Change (last -203K)
10:30 DoE Crude Oil/Gasoline/Distillate Inventories
12:00 TALF Announcement
14:00 Fed's Beige Book
Todays Headlines
9:30:25 AM
(UK) BOE's Posen: To use taxes to curb bubble in house prices; Targeting assets with monetary policy will not work
- House pice automatic stabilizers would not be a contstraint to BoE long term stabilizers
- Have need for real tax and regulation measure reforms
9:41:33 AM
(US) EPA: Need more time to decide whether to raise cap on ethanol content
- Expects to have testing data on effects of higher ethanol blend on vehicles by mid-June
- States that initial tests show vehicles made post 2001 can handle the higher ethanol blend up to 15%
- Believes ethanol mix above 10% will be needed.
10:52:35 AM
S&P Revises Republic of Bulgaria Outlook To Stable From Neg; Affirming ratings at BBB
- States: The ratings on Bulgaria reflect our view of the government''s strong track record of prudent fiscal policy and low gross debt; solid growth prospects over the medium term; and the country''s EU membership. Offsetting these strengths somewhat are large external imbalances and the related risks as a result of the adverse economic environment, which we expect to continue in 2010.
12:20:24 PM
(US) Fed's Plosser: Fed needs to raise rates to protect its credibility and prices
- reiterates may need higher rates before unemployment returns to appropriate levels; unemployment may edge a little bit higher before subsiding, will take some time to return to acceptable level.
- Expects to see job growth in 2010, jobless rate may fall 2010 end
2:04:43 PM
Fed's Plosser: Many of the emergency facilities are unwinding 'organically'; Dubai crisis should not pose a serious risk to global financial markets - comments to reporters
- says that Fed governance is already full of checks and balances and that a risk to independence would cause difficulty in policy adjustment
4:00:32 PM
(KS) South Korea Nov FX Reserves: $270.9B v $264B prior (record)
- In Nov, South Korea's fx reserves rose for the 9th consecutive month driven by the weaker dollar which increased the value of holdings in other currencies.
- Securities $236B v $216B prior, deposits $23B v $34B prior, SDRs $3.8B v $3.8B prior, gold $80M v $80M prior
Please read our disclaimer:
Trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the markets. The videos are neither a solicitation nor an offer to Buy/Sell futures or options. The past performance of any trading system or methodology is not necessarily indicative of future results.
Rule 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown. Learn to trade futures forex stocks.
SchoolOfTrade.com and United Business Servicing, Inc. are not registered investment or trading advisers. The services and content provided by SchoolOfTrade.com and United Business Servicing, Inc. are for educational purposes only, and should not be considered investment advice in any way. U.S. Government Required Disclaimer - Commodity Futures Trading Commission. Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this web site. The past performance of any trading system or methodology is not necessarily indicative of future results. cftc rule 4.41. These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or-over-compensated for the impact, if any, of certain market factors, such as liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown. Testimonials may not be representative of the experience of other clients. Testimonials are not a guarantee of future performance or success. No compensation is ever paid in exchange for any testimonials. Testimonials have not been independently verified.
