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China loosened monetary conditions and controls which resulted in an upside spike in copper.

8.11.2014

Top Day Market News

Another fairly light news week in terms of eco releases. At least the weather has proved to be unseasonably temperate. Overnight, China loosened monetary conditions and controls which resulted in an upside spike in copper, the barometer of Chinese economic strength/weakness. The big numbers of the week will be retail sales on the 13th to be followed up by PPI, Core PPI , Empire State manufacturing and finally the U of Michigan consumer confidence at week’s end.


Week of

August

11 - August 15

 

 

 

 

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Aug 12

10:00

JOLTS - Job

Openings

Jun

 

NA

NA

4.635M

 

Aug 12

14:00

Treasury Budget

Jul

 

-$96.0B

-$96.0B

-

$97.6B

 

Aug 13

07:00

MBA Mortgage Index

08/09

 

NA

NA

1.6%

 

Aug 13

08:30

Retail Sales

Jul

 

0.1%

0.3%

0.2%

 

Aug 13

08:30

Retail Sales ex-auto

Jul

 

0.3%

0.3%

0.4%

 

Aug 13

10:00

Business Inventories

Jun

 

0.3%

0.4%

0.5%

 

Aug 13

10:30

Crude Inventories

08/09

 

NA

NA

- 1.756M

 

Aug 14

08:30

Initial Claims

08/09

 

310K

305K

289K

 

Aug 14

08:30

Continuing Claims

08/02

 

2525K

2523K

2518K

 

Aug 14

08:30

Export Prices ex-ag.

Jul

 

NA

NA

-0.3%

 

Aug 14

08:30

Import Prices ex-oil

Jul

 

NA

NA

-0.1%

 

Aug 14

10:30

Natural Gas Inventories

08/09

 

NA

NA

82 bcf

 

 

Date

ET

Release

For

Actual

Briefing.com Forecast

Briefing.com Consensus

Prior

Revised From

Aug 15

08:30

PPI

Jul

 

0.0%

0.2%

0.4%

 

Aug 15

08:30

Core PPI

Jul

 

0.2%

0.2%

0.2%

 

Aug 15

08:30

Empire Manufacturing

Aug

 

15.0

15.5

25.6

 

Aug 15

09:00

Net Long-Term TIC Flows

Jun

 

NA

NA

$19.4B

 

Aug 15

09:15

Industrial Production

Jul

 

0.6%

0.3%

0.2%

 

Aug 15

09:15

Capacity Utilization

Jul

 

79.5%

79.2%

79.1%

 

Aug 15

09:55

Mich Sentiment

Aug

 

79.0

81.7

81.8

 

 

Numbers below 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

Support and Resistance Grid


 

Trend

WS2

WS1

DS

DR

WR1

WR2

Sept ES

U

1869.75

1896.5


1899

1937

1943.7

1964.50

Sept Nasdaq

D

3783

3828

3837

3898

3917

3961

Sept Yen

U

96.54

97.28

97.78

98.40

98.65

99.28

Sept EC

D

132.94

133.53

133.60

134.50

134.50

134.94

Sept 10 Year Note

U

124.12

125.04

125.14

126.12

126.18

127.09

Sept 30 Year Bond

U

136.10

137.26

138.16

140.03

140.15

141.28

Nov Soybeans

D

10.43

10.64

10.76

10.93

10.95

11.05

Sept Corn

D

3.42

3.47

3.48

3.57

3.60

3.65

Dec Gold

D

1265

1287

1295

1321.60

1328

1347

Sept Silver

D

19.33

19.62

19.79

20.13

20.34

20.77

Sept Copper

PRD(U)

310

314

316

319

323

329

Sept Crude

PRD(U)

95.40

96.37

96.85

98.95

98.49

99.64