What is it? President Draghi due to deliver opening remarks at the ECB Forum on Central Banking titled "Inflation and Unemployment in Europe," in Portugal.
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? May 21st at 1:30pm Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.
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What is it? It checks the level of a diffusion index based on surveyed manufacturers in Philadelphia.
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
When? May 21st at 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? It checks the annualized number of residential buildings that were sold during the previous month, excluding new construction.
It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
When? May 21st at 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? It checks the number of individuals who filed for unemployment insurance for the first time during the past week.
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? May 21st 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? It's a detailed record of the ECB Governing Board's most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates.
When? May 21st at 7:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.
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Hi Luke
I just want to say thanks for today being on hand to sort through my problems that I have been having. In fact to the whole team Jenny who has always been available and Jack with his mentoring, basically although I have yet to be successful I wish I had started to use this company a long time ago. I am probably jinxed and have probably been your company's most awkward client but still the support from you all is 101%.... (looks like I am in the money with Apple...miracles do happen even for me)....
Anyway I hope you will pass my thanks on to all those I have mentioned and those I didnot mention.. As soon as I am able to be in good profit I hope to send business your way.
Kind Regards
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Potential market movers -- Yahoo, Etsy
Shares in Yahoo (YHOO, Tech30) are posting a modest 3% rebound premarket after they tanked by about 8% late Tuesday. Investors hit the sell button on concerns that the company would be hit by new tax rules when it spins off its stake in Alibaba (BABA, Tech30). But the tech giant has reportedly issued a statement saying it will not be affected by any IRS tax rule changes.
Shares in Etsy (ETSY) are down by roughly 17% premarket after the company reported a big quarterly loss. It was the company's first earnings report since its IPO.
2. Down day in the markets?
U.S. stock futures are looking soft ahead of the open, but this comes a day after the Dow Jones industrial average eked out a minor gain to close at a new record high. The S&P 500 is also trading near record levels.
European markets are all edging down in early trading. Asian markets ended with mixed results. Japan reported annualized growth of 2.4% in the first quarter. That was stronger than expected but analysts warned the pace of expansion would slow later this year.
3. Earnings
Target (TGT), Staples (SPLS) and American Eagle Outfitters (AEO) are reporting ahead of the open.
Salesforce.com (CRM, Tech30), Williams-Sonoma (WSM) and the owner of Victoria's Secret, L Brands (LB), will report after the close.
4. Economics
The Federal Reserve will publish the minutes from its latest policy meeting at 2 p.m. ET.
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers in the manufacturing industry.
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
When? May 20th at 9:45pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? It's a detailed record of the FOMC's most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates.
When? May 20th at 2:00pm 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? It checks the change in the number of barrels of crude oil held in inventory by commercial firms during the past week.
It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods.
When? May 20th at 10:30am Eastern Time.
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What is it? It checks the change in the total value of sales at the wholesale level.
It's a leading indicator of consumer spending - retailers generally order more goods from wholesalers when they expect consumer sales to increase.
When? May 20th at 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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"Thank you for the good service given to me, I really appreciate it, more of it. I am happy to be one of your client.
Thank you very much sir."
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Stocks surging
U.S. stock futures are rising, giving investors hope that the Dow Jones industrial average and S&P 500 could smash new records.
Both indexes hit fresh closing highs Monday. The Nasdaq also rose by 0.6%.
2. International overview
There's a lot going on in Europe right now. European stock markets are rallying in early trading, with both the CAC 40 in France and the DAX in Germany shooting up by about 2%.
European government bonds are also firming, and the euro has fallen by just over 1% versus the U.S. dollar.
Investors are reacting to comments from a senior official at the European Central Bank, who was reported to have said the ECB would step up its bond-buying in May and June before liquidity tails off over the summer. The asset buying is part of the ECB's stimulus program to kill off eurozone deflation and boost the economy.
Asian markets mostly ended with positive results. The Shanghai Composite led the pack with a gain of 3.1%.
3. Earnings
Get ready for a slew of retail earnings.
Walmart (WMT), Home Depot (HD), Dick's Sporting Goods (DKS) and TJX (TJX) are all reporting ahead of the open.
Meanwhile, Wall Street newbie Etsy (ETSY) is expected to report after the close. Shares in the company surged by nearly 90% immediately after the company went public in April, but they have since fallen back by roughly 30%.
4. Economics
The U.S. government will post monthly data on housing starts and building permits at 8:30 a.m. ET.
And across the pond, U.K. inflation data shows consumer prices fell in April by 0.1%, making this the first time the nation has experienced deflation since official records began in 1996. However, many officials expect this to be a one-off blip, not the start of a deflationary spiral.
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What is it? It checks the change in the inflation-adjusted value of all goods and services produced by the economy.
It's the broadest measure of economic activity and the primary gauge of the economy's health.
When? May 19th at 7:50pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the JPY to rise.
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What is it? Governor Poloz is due to speak at the Chamber of Commerce, in Charlottetown.
As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
When? May 19th at 11:45am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the CAD to rise.
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What is it? It checks the annualized number of new residential building permits issued during the previous month.
It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building.
When? May 19th 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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What is it? It checks the change in the price of goods and raw materials purchased by manufacturers.
It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer.
When? May 18th at 6:45pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
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