What is it? The Eurogroup coordinates economic policies of the 17 euro area member states, and their initiatives and decisions can have a widespread effect on the Eurozone's economic health.
When? December 8th all day long.
Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!
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What is it? It checks the change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations.
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
When? December 8th at 3:15am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CHF to rise.
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What is it? It checks the change in the price of goods and services purchased by consumers.
Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
When? December 8th at 3:15am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CHF to rise.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) Jobs and Wages
The November jobs report is due out at 8:30am ET. The consensus forecast from economists surveyed by CNNMoney is for a gain of 228,000 jobs.
That would be up from the 214,000 jobs added in October, when the unemployment rate fell to 5.8%.
The US economy is on track to record its best year for job growth since 1999, but wages are still struggling once inflation is taken into account.
2) Europe Bounces Back
European markets recovered from the disappointment of Thursday's inaction by the European Central Bank, helped by news of surprisingly strong German industrial orders in October and in anticipation of healthy US jobs data.
Germany's DAX was up 1.3% in morning trade, and other major regional indexes posted similar gains. Asian markets had a mixed session.
US stock futures were narrowly firmer.
3) Market Recap
US stocks closed slightly lower Thursday. The Dow gave back 12 points, while the S&P 500 and Nasdaq both slid about 0.1%.
4) Stock Market Movers
Shares in Gap (GPS) gained 3.4% in after-hours trade, boosted by a 6% increase in net sales in November. Its Old Navy brand performed well, the company said.
Big Lots (BIG) will report quarterly earnings before the opening bell.
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What is it? It checks the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
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? December 5th at 8:30am Eastern Time.
Trading Tip: If the number is lower than the forecast, you can expect the USD to rise.
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What is it? It checks the difference in value between imported and exported goods and services during the reported month.
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.
When? December 5th at 8:30am Eastern Time.
Trading Tip: If the 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 number of employed people during the previous month, excluding the farming industry.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? December 5th at 8:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the USD to rise.
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What is it? It checks the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
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? December 5th at 8:30am Eastern Time.
Trading Tip: If the number is lower than the forecast, you can expect the CAD to rise.
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What is it? It checks the difference in value between imported and exported goods during the reported month.
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers.
When? December 5th at 8:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CAD to rise.
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What is it? It checks the change in the number of employed people during the previous month.
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
When? December 5th at 8:30am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CAD to rise.
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What is it? It checks the total value of foreign currency reserves held by the SNB.
It provides insight into the SNB's currency market operations, such as how actively they are defending the franc's exchange rate against the euro.
When? December 5th at 3:00am Eastern Time.
Trading Tip: If the number is lower than the forecast, you can expect the CHF to rise.
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What’s his story? As founder and chief executive of Forever 21 Inc., Do Won "Don" Chang oversees one of the world's fastest-growing fashion retailers, with 457 stores in 15 countries. From his office near downtown Los Angeles, he oversees an army of more than 20,000 employees ringing up sales of the season's trendiest designs from Chiba (Japan) to Chico (Calif.).
Growing up in South Korea, Chang worked in coffee shops. So when he immigrated to California in 1981 at age 18, he figured hot Joe would be his ticket to the American dream. Flashy Mercedes-Benzes and BMWs changed his mind. "I noticed the people who drove the nicest cars were all in the garment business," Chang said.
Chang opened his first store in L.A.'s Highland Park neighborhood in 1984, calling it Fashion 21. As sales took off and the clientele grew beyond the Korean American community, he changed the name to Forever 21. Other stores soon followed in the U.S. and overseas, including one in the Seoul neighborhood of Myung-Dong, where Chang grew up.
The economic downturn forced Chang to make some cuts. The company ended 2009 with seven fewer stores than the year before. Still, revenue is climbing. In the last fiscal year, Forever 21 posted $1.7 billion in sales. It projects revenue of $2.3 billion this year. Much of that is from aggressive expansion — Chang is eyeing Israel and Hong Kong, for example. Equally important is a broad lineup. In addition to Forever 21, the chain has seven other formats, each serving distinct breeds of mall rats, including XXI Forever, which focuses on higher end couture lines, and Heritage 1981, featuring vintage-styled clothes.
Chang opened his first store with his wife, Jin Sook, and has run the privately held company as a family business ever since. Daughter Linda heads marketing. His other daughter, Esther, is in charge of visual elements of the chain, such as graphics and window displays. "It's important my daughters learn from the hard work my wife and I put into this company," said Chang, who said a stock offering isn't likely any time soon. "Who better to look out for your best interests than family?"
Chang is proud to have added his chapter to an American classic: the immigrant success story. "Forever 21 gives hope and inspiration to people who come here with almost nothing," said Chang, who lives in a $16.5-million home in Beverly Hills and never went to college. "And that is a reward that humbles me: the fact that immigrants coming to America, much like I did, can come into a Forever 21 and know that all of this was started by a simple Korean immigrant with a dream."
Making it big in the shmatte business isn't easy. Chang tells young would-be entrepreneurs that they need perseverance, and they better know their stuff. "You can't go into business thinking that success will come to you in just one or two years," said Chang, who insists that a deep understanding of business and legal culture was key to his success. Retail, he said, "is like a marathon, not a 100-meter dash."
A religious man, Chang dedicates much of his free time to spiritual pursuits. He and his wife run the Chang 21 Foundation, which donates money to churches and other faith groups. He travels to perform missionary work and cites the Bible as his favorite book. For Chang, stylish tops, skinny jeans and cut-rate accessories are just tools to help him "travel to places in Third World countries that desperately need aid." Every Forever 21 shopping bag has a citation for a Bible verse printed on the bottom.
Chang occasionally plays racquetball or unwinds in front of the TV, watching his beloved Lakers. How focused is Chang? He hasn't uploaded a single app to his smart phone.
Success didn't come without struggle. Chang's company has been accused of copying high-end designer garments and sued several times over copyright issues (the matters were settled out of court). But Chang says that the biggest challenge is the sheer speed of change. "Everyone wants something different, and they want it immediately," he said. "You have to be very fast because other retailers are right behind you."
What about today? Do Won Chang owns the clothing retail store Forever 21 and is worth around $5 billion.
US markets climbed and reached record levels again. Energy, Materials and Industrials shares gained as oil prices rebounded slightly.
Asian markets were higher across the region. The Nikkei gained 0.94% as the Dollar continued to appreciate against the Dollar nearing the key psychological level of 120.
European markets are mixed today ahead of the ECB interest rate decision and press conference. Markets expect that a decision could be made to increase stimulus. The report will be released at 12:45pm (GMT) and the conference will be at 1:30pm (GMT).
Oil gained slightly after the EIA reported a bigger than expected decline in inventories. Crude inventories dropped by 3.7 million barrels during the past week, however, distillates and gasoline inventories climbed. OPECs decision still lingered on the market and the price is expected to decrease further unless production is cut.
Gold is ranging despite the stronger Dollar. Traders are hesitant ahead of the NFP report which will be released on Friday after a number of mixed reports this week. It is still expected that interest rates could be increased sooner but as stated by Fischer earlier in the week, any changes will be dependent on data.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1) More Stimulus?
There's a slim chance the ECB will use its last meeting of the year to announce more help for the stagnant Eurozone economy. More likely is a strong hint, perhaps even a promise, from President Mario Draghi of more action to come early in 2015.
The central bank will cut its forecasts for Eurozone growth and inflation at Thursday's meeting.
Most major European markets were narrowly firmer in early trading. The euro was becalmed versus the dollar, having lost 10% so far this year to trade at a two-year low.
Asian markets posted clear gains.
2) Oil Prices Steady
After a turbulent few weeks, oil prices look to be stabilizing. US crude futures were slightly higher at nearly $68 a barrel.
The sharp fall this year is damaging high cost producers but generating a windfall for consumers and drivers. Gas prices for a lucky few have even fallen below $2 a gallon.
3) Stock Market Movers
General Motors: Shares in GM (GM) were trading about 2% firmer premarket. News about GM has improved recently after a months of damaging recall headlines.
4) Futures Flat
US stock futures were little changed. US stocks rose to new record highs again Wednesday.
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What is it? It checks the level of a diffusion index based on surveyed purchasing managers.
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? December 4th at 10:00am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the CAD 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? December 4th at 8:30am Eastern Time.
Trading Tip: If the number is lower than the forecast, you can expect the USD to rise.
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What is it? It's the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.
When? December 4th at 8:30am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the EUR to rise.
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What is it? It checks the interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system.
Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.
When? December 4th at 7:45am Eastern Time.
Trading Tip: If the number is higher than the forecast, you can expect the EUR to rise.
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What is it? It's among the primary tools the MPC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes.
When? December 4th at 7:00am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.
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