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Bond market is exceptionally quiet ahead of all this

Market News

Top Day Market News

8-1-2012

Today we get the conclusion of the two day Federal Reserve Open Market Committee meeting. As there isn’t a press conference scheduled for Ben Bernanke after the meeting, the current belief is that the Fed will leave rates and policy unchanged and wait for the unemployment report before considering further quantitative easing. At least that’s the scenario of least resistance. Announcement at 2:15.

In the meantime, the ADP private jobs forecast comes in at

163K in July. ADP has not been highly predictive for the unemployment number on Friday. This number by itself, however, is enough to lower the headline unemployment rate.

Later, we get the Institute for Supply Management at 10 and construction spending and crude inventories at 10:30.

Bond market is exceptionally quiet ahead of all this.

 

Week of July 30 - August 03

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

Jul 31

08:30

Personal Income

Jun

 

0.9%

0.4%

0.2%

 

Jul 31

08:30

Personal Spending

Jun

 

0.1%

0.1%

0.0%

 

Jul 31

08:30

PCE Prices - Core

Jun

 

0.1%

0.1%

0.1%

 

 

Jul 31

 

08:30

Employment Cost

Index

 

Q2

 

 

0.5%

 

0.5%

 

0.4%

 

 

Jul 31

 

09:00

Case-Shiller 20-city

Index

 

May

 

 

-1.8%

 

-1.8%

 

-1.9%

 

Jul 31

09:45

Chicago PMI

Jul

 

51.0

52.5

52.9

 

Jul 31

10:00

Consumer Confidence

Jul

 

61.0

61.0

62.0

 

Aug

07:00

MBA Mortgage Index

07/28

 

NA

NA

0.9%

 

 

   

 

Date

 

ET

 

Release

 

For

 

Actual

Briefing.com

Forecast

Briefing.com

Consensus

 

Prior

Revised

From

01

 

 

 

 

 

 

 

 

Aug

01

 

08:15

ADP Employment

Change

 

Jul

 

 

125K

 

125K

 

179K

 

Aug

01

 

10:00

 

ISM Index

 

Jul

 

 

49.0

 

49.9

 

49.7

 

Aug

01

 

10:00

Construction

Spending

 

Jun

 

 

0.7%

 

0.5%

 

0.9%

 

Aug

01

 

10:30

 

Crude Inventories

 

07/28

 

 

NA

 

NA

 

2.717M

 

Aug

01

 

14:00

 

Auto Sales

 

Jul

 

 

NA

 

NA

 

4.9M

 

Aug

01

 

14:00

 

Truck Sales

 

Jul

 

 

NA

 

NA

 

6.1M

 

Aug

01

 

14:15

 

FOMC Rate Decision

 

Jul

 

 

0.25%

 

0.25%

 

0.25%

 

Aug

02

 

07:30

 

Challenger Job Cuts

 

Jul

 

 

NA

 

NA

 

-9.5%

 

Aug

02

 

08:30

 

Initial Claims

 

07/28

 

 

385K

 

365K

 

353K

 

Aug

02

 

08:30

 

Continuing Claims

 

07/21

 

 

3300K

 

3298K

 

3287K

 

Aug

02

 

10:00

 

Factory Orders

 

Jun

 

 

1.0%

 

0.6%

 

0.7%

 

Aug

03

 

08:30

 

Nonfarm Payrolls

 

Jul

 

 

85K

 

100K

 

80K

 

Aug

03

 

08:30

Nonfarm Private

Payrolls

 

July

 

 

100K

 

105K

 

84K

 

Aug

03

 

08:30

 

Unemployment Rate

 

Jul

 

 

8.2%

 

8.2%

 

8.2%

 

Aug

03

 

08:30

 

Hourly Earnings

 

Jul

 

 

0.1%

 

0.2%

 

0.3%

 

Aug

03

 

08:30

 

Average Workweek

 

Jul

 

 

34.5

 

34.5

 

34.5

 

Aug

03

 

10:00

 

ISM Services

 

Jul

 

 

52.0

 

52.2

 

52.1

 

 

 

 

 

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

Sept

ES

U

1299.25

1341

1361.75

1383.50

1404.5

0

1426.50

Sept

Nasda   q

PRD (D)

2472.50

2557.25

2618.50

2649.00

2686.5

0

2730.50

 

 

Sept Yen

U

126.30

126.50

127.82

128.44

128.17

129.04

Sept EC

U

119.09

121.13

122.66

123.84

124.59

126.01

Sept 10 Year

PRD (U)

132.26

133.15

134.13

135.03

135.04

136.04

Sept 30 Year

D

146.25

148.13

15.016

15.205

12.16

154.31

Nov   Soybeans

U

14.54

15.28

16.26

16.78

16.83

17.65

Sept Corn

U

7.48

7.73

7.994

8.32

8.23

8.48

DEC Gold

PRD (D)

1542.6

1584.9

1603.00

1626.00

1651.4

1675.6

Sept Silver

U

26.10

26.90

27.56

28.21

28.17

28.65

Sept Copper

PRD(D)

329

336

338

344

347

351

Sept Crude

PRD(D)

84.78

87.52

85.56

89.80

92.32

94.38

 

 

 

 

 

 

 

 

 News