1.10.13
Top Day Market News
And now for the storm. Projections for the number were upwardly revised with the mid-week release of the ADP private jobs forecast which came in stronger than expected. Of course, a strong number would give further argument to the continuation of tapering by the Federal Reserve. The markets have been coiling ahead of this number, particularly the currencies as many anticipate that tapering is tightening and that Fed policy is slow to change course but when it does it moves slowly over extended periods of time.
In other words, many expect the dollar to perform well over the first half of the year but there has to be a fundamental argument for this to take place.
Yesterday, the ECB and Bank of England both left rates unchanged but post decision comments by Mario Draghi were positive for the dollar. The BOE left its asset purchase plan unchanged.
Remember, it’s not the number that’s key but the reaction to the number.
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Week of January 06 - January 10 |
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Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
|
Jan 06 |
10:00 |
Factory Orders |
Nov |
|
2.0% |
1.7% |
-0.9% |
|
|
|
Jan 06 |
10:00 |
ISM Services |
Dec |
|
53.0 |
54.6 |
53.9 |
|
|
|
Jan 07 |
08:30 |
Trade Balance |
Nov |
|
-$41.5B |
-$40.4B |
-$40.6 |
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|
|
Date |
ET |
Release |
For |
Actual |
Briefing.com Forecast |
Briefing.com Consensus |
Prior |
Revised From |
|
Jan 08 |
07:00 |
MBA Mortgage Index |
01/04 |
|
NA |
NA |
NA |
|
|
Jan 08 |
08:15 |
ADP Employment Change |
Dec |
|
185K |
203K |
215K |
|
|
Jan 08 |
10:30 |
Crude Inventories |
01/04 |
|
NA |
NA |
- 7.007M |
|
|
Jan 08 |
14:00 |
FOMC Minutes |
12/18 |
|
|
|
|
|
|
Jan 08 |
15:00 |
Consumer Credit |
Nov |
|
$15.0B |
$15.2B |
$18.2B |
|
|
Jan 09 |
07:30 |
Challenger Job Cuts |
Dec |
|
NA |
NA |
-20.6% |
|
|
Jan 09 |
08:30 |
Initial Claims |
01/04 |
|
340K |
338K |
NA |
|
|
Jan 09 |
08:30 |
Continuing Claims |
12/28 |
|
2875K |
2875K |
NA |
|
|
Jan 09 |
10:30 |
Natural Gas Inventories |
01/04 |
|
NA |
NA |
-97 bcf |
|
|
Jan 10 |
08:30 |
Nonfarm Payrolls |
Dec |
|
185K |
197K |
203K |
|
|
Jan 10 |
08:30 |
Nonfarm Private Payrolls |
Dec |
|
200K |
198K |
196K |
|
|
Jan 10 |
08:30 |
Unemployment Rate |
Dec |
|
7.1% |
7.0% |
7.0% |
|
|
Jan 10 |
08:30 |
Hourly Earnings |
Dec |
|
0.2% |
0.2% |
0.2% |
|
|
Jan 10 |
08:30 |
Average Workweek |
Dec |
|
34.5 |
34.5 |
34.5 |
|
|
Jan 10 |
10:00 |
Wholesale Inventories |
Nov |
|
-0.2% |
0.2% |
1.4% |
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MARKET PLACE
Numbers are good up until the close of business today. These are strictly technical in nature, not fundamentally based or biased.
Legend U is Up
D is Down
PRD is Potential Reversal Day S2 is Weekly strong support S1 is Weekly good support DS is Daily Support
DR is Daily Resistance
R1 is Weekly Good Resistance and is calculated once a week on Sunday night
R2 is Weekly Strong Resistance and is calculated once a week on Sunday night
Levels are for the most active futures contract
Daily Support and Resistance
|
|
Trend |
WS2 |
WS1 |
DS |
DR |
WR1 |
WR2 |
|
Mar ES |
U |
1804 |
1813 |
1825 |
1839 |
1839 |
1850 |
|
Mar Nasdaq |
D |
3443 |
2507 |
3529 |
3571 |
3574 |
3618 |
|
Mar Yen |
U |
94.26 |
94.92 |
95.25 |
95.69 |
96.18 |
96.78 |
|
Mar EC |
D |
134.29 |
135.13 |
135.47 |
136.33 |
137.50 |
139.03 |
|
Mar 10 Year Note |
U |
122.15 |
122.26 |
122.28 |
123.18 |
123.14 |
123.23 |
|
Mar 30 Year Bond |
U |
127.05 |
127.25 |
128.18 |
129.19 |
129.03 |
129.21 |
|
Mar Soybean |
U |
12.29 |
12.50 |
12.68 |
12.78 |
13.04 |
13.36 |
|
Mar Corn |
D |
4.12 |
4.17 |
4.034 |
4.21 |
4.28 |
4.32 |
|
Feb Gold |
U |
1161 |
1199 |
1224 |
1235 |
1257 |
1277 |
|
March Silver |
D |
18.04 |
19.69 |
19.26 |
19.80 |
20.81 |
21.48 |
|
March Copper |
PRD(D) |
329 |
333 |
327 |
334 |
340 |
345 |
|
Feb Crude |
D |
90.00 |
91.72 |
90.95 |
92.64 |
99.28 |
103.13 |
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