ES Emini Trading: Pivot-Fed Announcements-Commentary

By , 9 December, 2009, No Comment
ESZ9
For 12/09/2009
How To Use
Symbol R1 R2 Pivot S1 S2
ESZ9 1102.42 1114.83 1095.08 1082.67 1075.33

Fed and Fed Agency Announcements

Jobless Claims
[Report][djStar]8:30 AM ET
RBC CASH Index
[Bullet9:00 AM ET

Elizabeth Duke Speaks
12:45 PM ET

Treasury Budget
[Report][djStar]2:00 PM ET
Money Supply
[Bullet4:30 PM ET

Consensus Analysis

International Trade
Released on 12/10/2009 8:30:00 AM For October, 2009
Prior Consensus Consensus Range
Trade Balance Level $-36.5 B $-36.4 B $-38.0 B to $-35.0 B

Market Consensus Before Announcement
The U.S. international trade gap in September widened to $36.5 billion from $30.7 billion worth of red ink in August. Exports rose 2.9 percent while imports jumped 5.8 percent. The worsening of the trade deficit was led by a wider petroleum shortfall which came in at $20.5 billion compared to $16.6 billion the previous month. The nonpetroleum gap increased to $25.9 billion from $24.3 billion in August. Looking ahead, the sneak peak indicators are mixed. First, there could be a drop in auto imports from Canada as not as many are needed with cash for clunkers having concluded. But a drop in shipments of nondefense capital goods in October could show up in lower capital goods exports. Also, higher oil prices will cut into any potential improvement in the trade gap.

Jobless Claims
Released on 12/10/2009 8:30:00 AM For wk12/5, 2009
Prior Consensus Consensus Range
New Claims – Level 457 K 460 K 450 K to 500 K

Market Consensus Before Announcement
Initial jobless claims fell 5,000 in the November 28 week to 457,000, extending a run of impressive improvement. Continuing claims for the November 21 week rose slightly to 5.465 million with the insured-workers unemployment rate steady at 4.1 percent, well down from a summer peak of 5.2 percent.

Treasury Budget
Released on 12/10/2009 2:00:00 PM For November, 2009
Prior Consensus Consensus Range
Treasury Budget – Level $-176.4 B $-135.0 B $-170.0 B to $-100.0 B

Market Consensus Before Announcement
The U.S. Treasury monthly budget report showed a massive $176.4 billion deficit in October, the first month of the government’s fiscal year. The year-ago October deficit was $155.5 billion. Latest receipts were down a year-on-year 18 percent with outlays up 6 percent. Looking ahead, the month of November typically shows a deficit for the month. Over the past 10 years, the average deficit for the month of November has been $68.4 billion and $95.3 billion over the past 5 years. The November 2008 deficit came in at $165.4 billion.
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Tags: , , , , Categories: day trading,daytrading,economic data,economic reports,Economy,Fed announcements,pivot
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