What is it? Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

When? At 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.

 

 

 

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Stocks - U.S. stock indexes opened lower on Thursday after weekly U.S. jobless claims data indicated the Federal Reserve could raise interest rates next month.

St. Louis Fed President James Bullard, a prominent hawk who is ready to increase rates, raised concerns of permanently low rates in industrial nations that could force a rethink of monetary policy.

Economy Indicators - The number of job openings in the U.S. rose more than expected in September, boosting optimism over the strength of the labor market and supporting the case for a U.S. rate hike, official data showed on Thursday.

In a report, the U.S. Labor Department said that the number of job openings, excluding the farming industry, increased to 5.53 million in September from 5.37 million a month earlier. Analysts had expected the number of job openings to hold steady at 5.37 million.

The report has garnered more attention lately, as Federal Reserve Chair Janet Yellen often cites the survey when assessing the state of the labor market.

Economy Indicators - A signal from European Central Bank president Mario Draghi that further policy easing is coming next month pushed the euro and government bond yields lower on Thursday but failed to lift stocks, which buckled under the weight of gloomy corporate news.

The gap between 5-year U.S. and euro zone bond yields hit its highest since 1999, while the dollar's rebound helped push crude oil to lows not seen since late August and copper to a six-year low.

Commodities - Gold prices sank to the lowest level since February 2010 on Thursday, as investors awaited comments from a range of Federal Reserve speakers for further indications on the likelihood of a December rate hike.

Gold for December delivery on the Comex division of the New York Mercantile Exchange shed $5.00, or 0.46%, to trade at $1,079.90 a troy ounce during U.S. morning hours. It earlier fell to $1,073.40, the lowest level in more than five years.

Economy Indicators - The U.S. Federal Reserve must weigh the effects of post-crisis financial regulations and new channels through which policy affects markets as it prepares to raise interest rates, Fed Chair Janet Yellen said on Thursday.

Yellen, kicking off a research conference on policy transmission and implementation after the 2007-2009 financial crisis, said the U.S. central bank also must weigh the disadvantages of its policy actions in light of new tools meant to help the Fed raise rates.

Forex - The U.S. dollar climbed to fresh one-month highs against its Canadian counterpart on Thursday, after data showed that U.S. jobless claims held steady at a two-month high last week, but remained in territory consistent with a strengthening labor market.

USD/CAD hit 1.3339 during European afternoon trade, the pair's highest since October 1; the pair subsequently consolidated at 1.3338, gaining 0.54%.

Economy Indicators - New U.S. applications for unemployment benefits last week held steady at levels consistent with sustained labor market strength that could encourage the Federal Reserve to raise interest rates next month.

Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 276,000 for the week ended Nov. 7, the Labor Department said on Thursday. The prior week's claims were unrevised.

 

  

 

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What is it? As head of the central bank, which controls short term interest rates, she has more influence over the nation's currency value than any other person. Traders scrutinize her public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? At 9:30am Eastern Time. 

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.

  

 

 

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy.

When? At 8:30am Eastern Time. 

Trading Tip: If the actual number is lower than the forecast, you can expect the USD to rise.

 

 

 

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What is it? As head of the ECB, which controls short term interest rates, he has more influence over the euro's value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

When? At 5:30am Eastern Time. 

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.

 

 

 

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Stocks: Wall Street opened slightly higher on Wednesday after data from China appeared to make the case for further stimulus measures from Beijing, even as investors brace for a possible U.S. interest rate hike in December.

The Dow Jones industrial average (DJI) was up 23.38 points, or 0.13 percent, at 17,781.59, the S&P 500 (SPX) was up 4.01 points, or 0.19 percent, at 2,085.73 and the Nasdaq Composite index (IXIC) was up 14.88 points, or 0.29 percent, at 5,098.13.

Forex: The U.S. dollar slipped lower against its Canadian counterpart on Wednesday, but still remained within close distance of a one-month peak as expectations for a December rate hike in the U.S. continued to support.

USD/CAD hit 1.3235 during early U.S. trade, the pair's lowest since November 6; the pair subsequently consolidated at 1.3238, shedding 0.27%.

The pair was likely to find support at 1.3152, the low of November 6 and resistance at 1.3316, the high of November 6 and a one-month high.

Commodities: Gold prices languished near three-month lows on Wednesday, while copper prices fell to the lowest level since July 2009, as the possibility of higher borrowing costs in the U.S. and slower global economic growth weighed on the metals.

Gold for December delivery on the Comex division of the New York Mercantile Exchange inched down $1.10, or 0.1%, to trade at $1,087.40 a troy ounce during U.S. morning hours. A day earlier, gold prices tacked on 40 cents, or 0.04%.

Stocks: Chinese e-commerce giant Alibaba Group Holdings Ltd (N:BABA) said on Wednesday the value of merchandise it has sold so far during the Singles' Day online shopping extravaganza had surpassed last year's total of $9.3 billion.

The company, which six years ago turned Nov. 11 into China's equivalent of U.S. shopping event Cyber Monday, could see this year's sales rise to as much as $13.8 billion, a growth of almost 50 percent from last year's total, according to research firm IDC.

Economic Indicators: Industrial production in China hit seven-month low in October while spending on infrastructure slowed, data on Wednesday showed.

The data added to signs that more stimulus may be needed to shore up growth in the world's second biggest economy.

Factory output grew at an annual rate of 5.6% in October, the weakest in seven months.

Fixed asset investment expanded 10.2% in the year to October, in line with expectations but the slowest pace since 2000.

But retail sales, a key gauge of consumer spending, held up well for the month, growing 11% from a year earlier.

 

 

 

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What is it? Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

When? At 7:30pm Eastern Time.

Trading Tip: If the actual number is lower than the forecast, you can expect the AUD  to rise.

 

 

 

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