US SESSION
A) CALENDAR
-GMT 13:30 USA PPI (m/m), (Oct) EST 0.2% PREVIOUS 1.1%
-GMT 13:30 USA PPI (y/y), (Oct) EST 6.4% PREVIOUS 4.4%
Definition
The PPI gauges the average changes in prices received by domestic producers for their output at all stages of processing. The PPI data is compiled from most sectors of the economy, such as manufacturing, mining and agriculture.
-GMT 13:30 USA PPI Core (m/m), (Oct) EST 0.2% PREVIOUS 0.1%
-GMT 13:30 USA PPI Core (y/y), (Oct) EST 2.6% PREVIOUS 2.0%
Definition
This indicator is a derivative of the PPI that excludes the volatile Food and Energy items.
-GMT 13:30 USA Retail Sales (m/m), (Oct) EST 0.2% PREVIOUS 0.6%
Definition
The retail sales report is a measure of the total receipts of retail stores from samples representing all sizes and kinds of business in retail trade throughout the nation. It is the most timely indicator of broad consumer spending patterns and is adjusted for normal seasonal variation, holidays, and trading-day differences. Retail sales include durable and nondurable merchandise sold, and services and excise taxes incidental to the sale of merchandise. Excluded are sales taxes collected directly from the customer. It also excludes spending for services, a large component of consumer expenditures. Retail sales is a the first picture of consumer spending for a given month. Retail sales are often viewed ex-autos, as auto sales can move sharply from month-to-month. Also, gas and food component changes are often a result of price changes rather than shifting consumer demand. Retail sales can be quite volatile and the advance reports are subject to large revisions.
-GMT 13:30 USA Retail Sales ex Autos (m/m), (Oct) EST 0.3% PREVIOUS 0.4%
Definition
This indicator is a derivative of Retail Sales that excludes the volatile Automobile Sales component.
-GMT 15:00 USA Business Inventories (m/m), (Sep) EST 0.3% PREVIOUS 0.1%
Definition
Business inventories consist of items produced and held for future sale.
B) SUPPORT-RESISTANCE
EURO/USD USD/JPY GBP/USD
R3 1.4765 112.10 2.0900
R2 1.4750 111.80 2.0840
R1 1.4725 111.50 2.0800
S1 1.4650 111.10 2.0700
S2 1.4625 110.80 2.0660
S3 1.4585 110.35 2.0600
C) WATCH
-Interest Rates
-GMT 13:30 USA PPI
-GMT 13:30 USA PPI-Core
-GMT 13:30 USA Retail Sales
-GMT 13:30 USA Retail Sales ex Autos
D) TRADING TIPS
CANDLESTICKS REVERSAL PATTERNS
Dark Cloud Cover: This is a two day reversal pattern that only has bearish implications. This is also one of the times when the pattern’s counterpart exists but has a different name. The first day of this pattern is a long white candlestick. This reflects the current trend of the market and helps confirm the uptrend to traders. The next day opens above the high price of the previous day, again
adding to the bullishness. However, trading for the rest of the day is lower with a close price at least below the midpoint of the body of the first day. This is a significant blow to the bullish mentality and will force many to exit the market. Since the close price is below the open price on the second day, the body is black. This is the dark cloud referred to in the name.