ASIAN SESSION
A) CALENDAR
-No Press Releases
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4485 115.55 2.0860
R2 1.4470 115.30 2.0840
R1 1.4435 115.00 2.0810
S1 1.4390 114.50 2.0775
S2 1.4370 114.10 2.0745
S3 1.4355 113.85 2.0720
C) WATCH
-Interest Rates
D) TRADING TIPS
A way to determine the significance of a support or resistance area is how recently the trading took place. Because we are dealing with the reaction of traders to market movement and to positions that they have already taken or failed to take, it stands to reason that the more recent the activity, the more potent it becomes.
EUROPEAN SESSION 02/11/2007
A) CALENDAR
-GMT 09:00 EU Manuf. PMI (Oct) EST PREVIOUS 53.2
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4520 115.55 2.0880
R2 1.4500 115.30 2.0860
R1 1.4470 115.00 2.0840
S1 1.4415 114.40 2.0770
S2 1.4390 114.10 2.0745
S3 1.4370 113.85 2.0720
C) WATCH
-Interest Rates
-GMT 09:00 EU Manuf. PMI
D) TRADING TIPS
A way to determine the significance of a support or resistance area is how recently the trading took place. Because we are dealing with the reaction of traders to market movement and to positions that they have already taken or failed to take, it stands to reason that the more recent the activity, the more potent it becomes.
US SESSION
A) CALENDAR
-GMT 12:30 USA Nonfarm Payroll (Oct) EST 90k PREVIOUS 110k
-GMT 12:30 USA Unemployment Rate (Oct) EST 4.7% PREVIOUS 4.7%
-GMT 12:30 USA Avg Hrly Earnings (Oct) EST 0.2% PREVIOUS 0.4%
-GMT 12:30 USA Work Week (Oct) EST 33.8hrs PREVIOUS 33.8hrs
Definition
In the US, the employment report, also known as the labor report, is regarded as the most important among all economic indicators. The report provides the first comprehensive look at the economy, covering nine economic categories. Here are the three main components of the report:
Payroll Employment: Measures the change in number of workers in a given month and measures the number of jobs in more than 500 industries (ex-�farming) in all states and 255 metropolitan areas. The employment estimates are based on a survey of larger businesses and counts the number of paid employees working part-time or full-time in the nation’s business and government establishments. This release is the most closely watched indicator because of its timeliness, accuracy and its comprehensiveness. It is important to compare this figure to a monthly moving average (6 or 9 months) to capture a true perspective of the trend in labor market strength. Equally important are the frequent revisions for the prior months, which are often significant.
Unemployment Rate: The percentage of the civilian labor force actively looking for employment but unable to find jobs. Although it is a highly proclaimed figure (due to simplicity of the number and its political implications), the unemployment rate gets relatively less importance in the markets because it is known to be a lagging indicator – it usually falls behind economic turns.
Average Hourly Earnings Growth: The growth rate between one month�s average hourly rate and another�s sheds light on wage growth and, hence, assesses the potential of wage-push inflation. The year-on-year rate is also important in capturing the longer-term trend.
The employment data give the most comprehensive report on how many people are looking for jobs, how many have them, what they’re getting paid and how many hours they are working. These numbers are the best way to gauge the current state and future direction of the economy. They also provide insight on wage trends and wage inflation. By tracking the jobs data, investors can sense the degree of tightness in the job market. If wage inflation threatens, usually interest rates will rise, and bond and stock prices will fall. One weakness in this indicator is it is subject to significant revisions and large seasonal distortions.
-GMT 14:00 USA Factory Orders (m/m), (Sep) EST 1.3% PREVIOUS -3.3%
Definition
Factory orders refer to the total of durable and nondurable good orders
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4555 115.90 2.0985
R2 1.4525 115.50 2.0930
R1 1.4500 115.00 2.0875
S1 1.4435 114.30 2.0770
S2 1.4415 114.10 2.0745
S3 1.4390 113.60 2.0690
C) WATCH
-Interest Rates
-GMT 12:30 USA Employment Report
-GMT 14:00 USA Factory Orders
D) TRADING TIPS
A way to determine the significance of a support or resistance area is how recently the trading took place. Because we are dealing with the reaction of traders to market movement and to positions that they have already taken or failed to take, it stands to reason that the more recent the activity, the more potent it becomes.