US stocks finished with little change following comments by Fed members that there is no rush to increase interest rates due to worries that it could hamper global growth.
Asian markets were mixed today, while European markets were higher as a result of consistently bad data.
Oil is climbing despite a report from the EIA that showed inventories to climb by 8.932 million barrels.
Gold rose as weak data was released from the US. Investors are still afraid to take risks, pushing them into Gold as an alternative investment.
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Building Permits (USD)
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What is it? It checks the level of a composite index based on surveyed consumers;
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 17th at 9:55am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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What is it? Fed chair Yellen is due to speak at the Federal Reserve Bank of Boston's Conference on Inequality of Business Opportunity, in Boston.
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.
Usual Effect: If the speech will hint towards higher interest rates, you can expect the USD to rise.
When? October 17th at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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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) Comeback Time
US stock futures were definitively higher and most European markets were rising by more than 1% in early trading.
Investors are clearly feeling steadier after panic flooded the markets over the previous few days. The Nasdaq briefly hit correction territory on Thursday, signaling a 10% decline from a recent peak.
Even though markets had a wild ride on Thursday, stocks settled down at the end of the day and the indexes closed with only minor changes. The Dow lost 25 points, while the S&P 500 and Nasdaq edged into positive territory.
Over in Asia, the main stock markets were mixed at the close of the week.
2) Earnings and Economics
Investors are waiting for General Electric (GE), Morgan Stanley (MS) and Honeywell (HON) to report quarterly earnings before the opening bell.
The US government will post housing start data for September at 8:30am ET. The University of Michigan Consumer Sentiment Index comes out at 9:55am.
3) Stock Market Movers -- Google, Urban Outfitters and Rolls Royce
Shares in Google (GOOGL, Tech30) are slipping premarket after the company's quarterly results showed third-quarter sales came in short of expectations. It also reported another decline in the average amount paid by advertisers when a user clicks on an ad.
Shares in Urban Outfitters (URBN) are plunging by 13% premarket after the retailer warned that third quarter earnings will be squeezed.
Rolls-Royce (RYCEY) is having a tough day on the London markets. Shares in the aircraft engine-maker are falling by about 8% after the firm warned that market conditions have deteriorated and some big customers are delaying and canceling orders because of Russian trade sanctions.
4) Shoes and Shares
Shoemaker Jimmy Choo debuted on the London stock market Friday. Shares were relatively flat in early trading. The company picked the ticker symbol "CHOO".
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Building Permits (USD)
Dollar Flat Against Yen
Core CPI (CAD)
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What is it? It check 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.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 17th at 8:30am Eastern Time.
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Dollar Flat Against Yen
Core CPI (CAD)
Core Retail Sales
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What is it? It check the change in the price of goods and services purchased by consumers, excluding the 8 most volatile items.
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.
Usual Effect: If the number is higher than the forecast, you can expect the CAD to rise.
When? October 17th at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the CAD, make sure to make your trades before.
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After a strong sell off due to concerns over the global outlook, US stocks climbed slightly. Gains were seen after earnings season started with positive results.
Asian markets climbed across the region, while European markets are lower today as traders still digest weak data from Germany increasing fears that the euro zone could be reaching a recession.
Oil is still falling and has now reached its lowest price since 2012. Losses were caused after the IEA cut their forecast for global oil demand to a 5 year low.
Gold has started to decline once again. The stock market rebounded slightly and so the metals safe haven appeal is wearing off. The Dollar also made gains and Gold tends to trade inversely to the American currency.
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What is it? Draghi is due to speak at the grand opening of the European Cultural Days 2014 organized by the European Central Bank, in Frankfurt.
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.
Usual Effect: If the speech will hint towards higher interest rates, you can expect the EUR to rise.
When? October 15th at 2:00pm Eastern Time.
Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.
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What is it? It check the in the average price of dairy products sold at auction.
It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income.
Usual Effect: If the number is higher than the forecast, you can expect the NZD to rise.
When? October 15th.
Trading Tip: This announcement can greatly affect the NZD, make sure to make your trades before.
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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) Pharmaceutical Deal
Shares in the UK pharmaceutical giant Shire (SHPG) dropped like a rock this morning -- down by as much as 29% -- following indications that US drugmaker AbbVie (ABBV) may ditch its $55 billion takeover of the company.
AbbVie said Tuesday that its board of directors is taking another look at the deal after the Obama Administration introduced measures last month to make it harder for American companies to reduce their tax bills by merging with foreign firms and moving abroad.
2) Ready for Earnings
: Investors are preparing for a swing of big earnings announcements Wednesday.
Bank of America (BAC) and BlackRock (BLK) will report quarterly results before the opening bell. American Express (AXP), eBay (EBAY, Tech30) and Netflix (NFLX, Tech30) will report after the close.
Markets are also ready to react to Intel (INTC, Tech30) earnings. Shares are rising by about 1.5% premarket after the company reported a 12% jump in quarterly income compared to last year.
3) Softening Markets
US stock futures were relatively calm, with the indexes not straying far from Tuesday's closing levels.
US stocks posted mixed results over the previous session. The Dow Jones industrial average slid slightly into the red, losing about 6 points. But the S&P 500 rose 0.2% and the Nasdaq ended the day 0.3% higher.
Markets seem to be mellowing out after taking a sharp dive between Thursday and Monday.
On the other side of the pond, European markets were lower. Asian markets mostly closed with gains.
4) Economic Agenda
The US Census Bureau will report monthly retail sales at 8:30am Eastern Time.
At 2:00pm, the Federal Reserve will release its Beige Book, which is a compilation of anecdotal information about the state of the US economy.
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Core Retail Sales
Asia Stocks and Dollar Stabilize
Claimant Count Change
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What is it? It check the in the total value of sales at the retail level.
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 15th at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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Core Retail Sales
Asia Stocks and Dollar Stabilize
Claimant Count Change
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What is it? It check the in the price of finished goods and services sold by producers.
It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 15th at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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Other top stories:
Core Retail Sales
Asia Stocks and Dollar Stabilize
Claimant Count Change
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What is it? It check the change in the total value of sales at the retail level, excluding automobiles.
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.
Usual Effect: If the number is higher than the forecast, you can expect the USD to rise.
When? October 15th at 8:30am Eastern Time.
Trading Tip: This announcement can greatly affect the USD, make sure to make your trades before.
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Average Earnings Index
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What is it? It check the change in the number of people claiming unemployment-related benefits during the previous month.
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.
Usual Effect: If the number is smaller than the forecast, you can expect the GBP to rise.
When? October 15th at 4:30am Eastern Time.
Trading Tip: This announcement can greatly affect the GBP, make sure to make your trades before.
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What is it? It check the change in the price businesses and the government pay for labor, including bonuses.
It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer.
Usual Effect: If the number is higher than the forecast, you can expect the GBP to rise.
When? October 15th at 4:30am Eastern Time.
Trading Tip: This announcement can greatly affect the GBP, make sure to make your trades before.
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ECB President Draghi Speaks
Oil at a 3 Year Low
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What is it? ECB president Draghi is due to deliver opening remarks at the 7th Statistics Conference organized by the European Central Bank, in Frankfurt.
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.
Usual Effect: If the speech will hint towards higher interest rates, you can expect the EUR to rise.
When? October 15th at 3:00am Eastern Time.
Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.
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The International Monetary Fund was the main mover of markets at the end of last week. They first downgraded their forecast for global growth in 2015 following weakness in the Eurozone and emerging markets.
Markets reacted negatively and stocks suffered a strong sell off. US markets dropped by their strongest rate in two years. Asian markets were mixed during today’s session, while European markets were higher today, posting gains for the first time in five sessions.
Oil dropped to a 3 year low after the IMF summit. Slower global growth would lead to lower demand for oil and so the price was pushed lower. The price has been under pressure for over 2 months as global demand for oil is slowing.
Gold climbed as a safe haven asset last week. The rapid sell off in the stock market was bullish for Gold as it acts as an alternative investment to equities.
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4 Tips for Today's Trading - 13/10
Oil at a 3 Year Low
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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 Pain to Come?
The Dow suffered its worst drop of the year last week and ended 2.7% lower. Tech stocks were particularly hard hit.
US stock futures were trending lower on Monday, suggesting that a dramatic rebound may not be in the cards.
2) Fear Everywhere
Investors are absolutely terrified right now. Markets are particularly unnerved by the Federal Reserve's plans to end its unprecedented stimulus and low interest rate policies.
Around the globe, problem spots are appearing: Germany doesn't look good; neither does Japan.
3) No Safe Haven
Japan's Nikkei was closed for a holiday, but other Asian markets ended mixed despite positive Chinese trade data. European markets were firmly in the red.
4) Stay Tuned
Some of the biggest companies in the US are up to bat with third quarter earnings this week. Netflix (NFLX, Tech30) and eBay (EBAY, Tech30) will report Wednesday. Google (GOOG) is up on Thursday.
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What is it? It checks the Level of a diffusion index based on surveyed German institutional investors and analysts.
It's a leading indicator of economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity.
Usual Effect: If the number is higher than expected, you can expect the EUR to rise.
When? October 14th at 5:00am Eastern Time.
Trading Tip: This announcement can greatly affect the EUR, make sure to make your trades before.
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NAB Business Confidence (AUD) - 13/10
iPhone 6 Helps China's Export
European Growth Worries Affects Asia Oil
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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.
Usual Effect: If the number is higher than expected, you can expect the GBP to rise.
When? October 14th at 4:30am Eastern Time.
Trading Tip: This announcement can greatly affect the GBP, make sure to make your trades before.
Talk to us to get get FREE signals and start earning now:
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NAB Business Confidence (AUD) - 13/10
iPhone 6 Helps China's Export
European Growth Worries Affects Asia Oil
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