Dagens AGenda 10/9

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 Jobless Claims leads calendar

The Bank of England will be making its announcement on interest rates at 13.00. Traders do not expect any change in rates, so any hawkish hints would be a major surprise. The primary impact may be on the U.K. pound unless there is a major surprise.

International Trade will be released at 14.30. The expectation is for another negative trade balance, of -$28 billion. The expected range is relatively narrow at -$29.5 billion to -$26 billion. The report is not likely to have much impact unless it contains a dramatic surprise.

The big report of the day will be Jobless Claims, also released at 14.30. There are two components to the report, initial claims and continuing claims. Expectations are for a drop in initial claims to 560,000 from 570,000. An increase from last week's reading would be bearish, while a number lower than forecast would be bullish.

Continuing claims are also expected to show a decline, to 6.2 million from 6.234 million. A reading higher than last week's number would be bearish, while a number below forecast would be bullish. The market impact will be broad on any major surprise.

The EIA Petroleum Status Report will be announced at 17.00. The API data, released after yesterday's market close, showed a very large draw of -7.2 million barrels, well above the forecast. The EIA forecast calls for -1.5 million barrels.

A larger-than-expected draw would be bullish for oil pricing. A smaller-than-forecast draw, or a positive number indicating a build, would be bearish for crude.

Dennis Lockhart, president of the Atlanta Federal Reserve Bank, will speak at 18.30 at the World Affairs Council on U.S. and global economic interactions. There may be additional price swings around the time of the speech.

Donald Kohn, vice chairman of the Federal Reserve, will speak at 22.15 at the Brookings Institution. The topic will be U.S. monetary policy response. If there is anything unexpected during the talk, it may impact trading on Friday.



By: Bryan McCormick

Inlägget är redigerat av författaren.

Inlägget är redigerat av författaren.