forex signals

U.S Market Update 12 Sept 07



- There are no major economic numbers scheduled for release in the US today, however MBA mortgage applications for the week ending September 7 will be released at 7:00 ET. There are no estimates for the mortgage applications number; the prior reading was 1.3%.

- There is no new supply scheduled in the US today. As expected, the Treasury announced yesterday that they will be selling $8B in 10-year notes. The results from the 10-year note auction are due out mid-session on Thursday.

- There are no central bank speakers scheduled in the US today.

- In European economic news overnight, Euro-Zone industrial production for the month of July was stronger than expected, with small upward revisions to June’s readings. Industrial production was 0.6% m/m and 3.7% y/y, above estimates of 0.2% and 3.1% respectively. In the UK overnight, the claimant count rate for the month of August was in line with consensus expectations at 2.6%, while July’s reading was revised up to 2.7% from 2.6%. The jobless claims change was slightly better than expected at –4.2K. Average earnings including bonus rose by more than expected to 3.5% in July from an upwardly revised 3.4% in June, while average earnings excluding bonus were in line with estimates at 3.5%. The ILO unemployment rate for the month of July was also in line with consensus estimates at 5.4%. The Bank of England’s King said overnight that the money-market rescue risks a future financial crisis, adding that interest rates could be adjusted quickly when necessary.

- In Asian economic news overnight, Japanese Prime Minister Abe announced his resignation. Chinese retail sales for the month of august rose by more than expected to 17.1% for the highest reading since May 2004. Chinese M2 money supply rose declined by more than expected to 18.1% in August from 18.5% in July. Japanese consumer confidence for the month of August unexpectedly declined to 44.1 from 44.6 I July, while household consumer confidence declined in line with consensus expectations to 44.0 from 44.4 in June. The seasonally adjusted South Korean unemployment rate declined to 3.2% from 3.4% in July.



by Trade The News Staff

Sharp LCD HDTV | 40 Inch HDTV | Body Weight Loss | All Xbox games | SkullCandy Headphones | Sennheiser Headphones
Home Stereo System | GE Dishwasher | Serta Mattress | Frontline Plus Dogs | Lamb Shoes | Leather Jacket Women | Indonesia Vacations