US Trade Balance

Location: United States

Date: 05/04/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: -$44.45B / Consensus: -$44.60B

Notes: The Trade Balance released by the Bureau of Economic Analysis and the U.S. Census Bureau is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the USD. If a steady demand in exchange for US exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the USD.Review Alex Nekritin's Article - Trading US Dollar with US Trade Balance

#END

US Average Hourly Earnings (YoY)

Location: United States

Date: 05/04/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 2.1%

Notes: The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

#END

US Unemployment Rate

Location: United States

Date: 05/04/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 7.7% / Consensus: 7.7%

Notes: The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the US economy. Therefore, a decrease of the figure is seen as positive (or bullish) for the USD, while an increase is seen as negative (or bearish).

#END

US Nonfarm Payrolls

Location: United States

Date: 05/04/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 236K / Consensus: 200K

Notes: The nonfarm payrolls released by the US Department of Labor presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

#END

US Average Hourly Earnings (MoM)

Location: United States

Date: 05/04/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.2% / Consensus: 0.2%

Notes: The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

#END

DE Factory Orders n.s.a. (YoY)

Location: Germany

Date: 05/04/2013

Time: 11:00 - 12:00

Strength: 2/3

Previous: -2.5% / Consensus: -1.5%

Notes: The Factory orders released by the Deutsche Bundesbank is an indicator that includes shipments, inventories, and new and unfilled orders. An increase in the factory order total may indicate an expansion in the German economy and could be an inflationary factor. It is worth noting that the German Factory barely influences, either positively or negatively, the total Eurozone GDP. A high reading is positive (or bullish) for the EUR, while a low reading is negative.

#END

The 6am Cut

6am Cut London Posted 2013-04-05 05:49:37 by Kate Mackenzie Asian markets were mixed with Japanese stocks rising almost 3% after the BoJ's new measures announced yesterday. However the Hang Seng fell 2.4% on growing fears around the bird flu outbreak that has killed five people in China, and Korea's Kospi fell 2%, leading the MSCI Asia Pacific down 1.4%. (Bloomberg) The scathing HBOS report is out and in it, the Parliamentary Committee on Banking Standards accuses HBOS's former chairman, Lord Stevenson, and former chief executives Sir James Crosby and Andy Hornby, of presiding over a "colossal failure". The commission said the HBOS "catastrophe" should be seen as a case study of how not to run a bank and called on regulators to consider barring the three directors from any future role in the sector. However the comission's chairman, Andrew Tyrie, stopped short of saying Sir James or Lord Stevenson should be stripped of their titles. (Financial Times) US non-farm payrolls due out today are expected to show a March gain of 200,000 jobs according to Dow Jones' survey of economists, or 190,000, according to Bloomberg's. February posted a 236,000 gain. (Wall Street Journal)(Bloomberg) Former MF Global CEO Jon Corzine helped to bring down the brokerage, according to a report by the company's court-appointed trustee. "Unusually for a chief executive, Mr Corzine executed some of the trades personally, "even placing trades in the middle of meetings"." The document said Corzine and his management team engaged in "negligent conduct". (Financial Times) "Samsung Electronics on Friday said that first-quarter operating profit would be stronger than expected, as the world's largest electronics company by sales stepped up sales of lower-end smartphones in emerging markets despite growing price competition and slowing demand in developed markets." (Financial Times) Enron's Skilling may get to leave jail early: About 6.25 years into a 24-year sentence, Jeffrey Skilling may be able to leave jail early if prosecutors reach and agreement with the former Enron CEO that would result in a resentencing. Victims of Enron's fraud and bankruptcy were notified by the Department of Justice of the possibility, but it's not clear whether an agreement will be reached or by how much his sentence could be reduced. (Reuters) COMMENT AND CURIOS: - Gavyn Davies on the risk the BoJ's strategy will work too well. (FT blog) - Soros says new BoJ strategy may trigger a yen "avalanche". (Bloomberg) - Will your Twitter feed make it onto Bloomberg terminals? (Financial Times) - Foreign companies that might start regretting China-focused strategies. (Wall Street Journal) - Big Pharma fears the implications of big data and more transparency. (Financial Times) OVERNIGHT MARKETS: MIXED Asian markets Nikkei 225 up +375.66 (+2.97%) at 13,010 Topix up +36.60 (+3.53%) at 1,074 Hang Seng down -528.90 (-2.37%) at 21,809 US markets S&P 500 up +6.29 (+0.40%) at 1,560 DJIA up +55.76 (+0.38%) at 14,606 Nasdaq up +6.38 (+0.20%) at 3,225 European markets Eurofirst 300 down -12.65 (-1.06%) at 1,181 FTSE100 down -76.16 (-1.19%) at 6,344 CAC 40 down -28.80 (-0.77%) at 3,726 Dax down -57.36 (-0.73%) at 7,817 Currencies €/$ 1.29 (1.29) $/¥ 96.88 (96.33) £/$ 1.52 (1.52) Commodities ($) Brent Crude (ICE) up +0.13 at 106.47 Light Crude (Nymex) up +0.03 at 93.29 100 Oz Gold (Comex) down -0.60 at 1,551 Copper (Comex) unchanged 0.00 at 334.55 10-year government bond yields (%) US 1.76% UK 1.74% Germany 1.24% CDS (closing levels) Markit iTraxx SovX Western Europe +0.34bps at 103.72bp Markit iTraxx Europe -0.41bps at 120.32bp Markit iTraxx Xover +4.23bps at 479.38bp Markit CDX IG -1.23bps at 88.02bp Sources: FT, Bloomberg, Markit
#END

US Fed's Bernanke Speech

Location: United States

Date: 04/04/2013

Time: 15:30 - 16:30

Strength: 3/3

Previous:

Notes: The fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the Federal Reserve System. He gives a press conference as to how the Fed observes the current U.S. economy and the value of USD. His comments may determine a short-term positive or negative trend.

#END

US Initial Jobless Claims

Location: United States

Date: 04/04/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 357K / Consensus: 350K

Notes: The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy. Generally speaking, a decreasing number should be taken as positive or bullish for the USD.

#END

EMU ECB Interest Rate Decision

Location: European Monetary Union

Date: 04/04/2013

Time: 12:45 - 13:45

Strength: 3/3

Previous: 0.75% / Consensus: 0.75%

Notes: ECB Interest Rate Decision is announced by the European central Bank. Usually, if the ECB is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the EUR. Likewise, if the ECB has a dovish view on the European economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.Review Alex Nekritin's Article - Trading the Euro with the ECB Rate Decision

#END

UK BoE Asset Purchase Facility

Location: United Kingdom

Date: 04/04/2013

Time: 12:00 - 13:00

Strength: 3/3

Previous: �375B / Consensus: �375B

Notes: The Asset Purchase Facility is the value of money the BoE plans to create and inject into the economy through open market bond purchases as a way to influence long-term interest rates. This monetary policy tool is also called Quantitative Easing.

#END

UK BoE Interest Rate Decision

Location: United Kingdom

Date: 04/04/2013

Time: 12:00 - 13:00

Strength: 3/3

Previous: 0.5% / Consensus: 0.5%

Notes: BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the U.K. economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.Review Alex Nekritin's Article - Trading British Pound with BoE Rate Decision

#END

EMU Producer Price Index (MoM)

Location: European Monetary Union

Date: 04/04/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: 0.6% / Consensus: 0.1%

Notes: The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). Generally, a high reading is seen positive ( or bullish ) for the EUR, while a low reading is seen as negative ( or bearish ).

#END

EMU Producer Price Index (YoY)

Location: European Monetary Union

Date: 04/04/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.9% / Consensus: 1.5%

Notes: The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). Generally, a high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

UK Markit Services PMI

Location: United Kingdom

Date: 04/04/2013

Time: 9:28 - 10:28

Strength: 2/3

Previous: 51.8 / Consensus: 51.5

Notes: The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

#END