| Economic Calendar |
| Date |
ET |
Release |
For |
Consensus |
Prior |
| Apr 30 |
8:30 AM |
Personal Income |
Mar |
NA |
0.2% |
| Apr 30 |
8:30 AM |
Personal Spending |
Mar |
NA |
0.8% |
| Apr 30 |
8:30 AM |
PCE Prices - Core |
Mar |
NA |
0.1% |
| Apr 30 |
9:45 AM |
Chicago PMI |
Apr |
NA |
62.2 |
| May 1 |
10:00 AM |
ISM Index |
Apr |
NA |
53.4 |
| May 1 |
10:00 AM |
Construction Spending |
Mar |
NA |
-1.1% |
| May 1 |
2:00 PM |
Auto Sales |
Apr |
NA |
5.1M |
| May 1 |
2:00 PM |
Truck Sales |
Apr |
NA |
5.7M |
| May 2 |
7:00 AM |
MBA Mortgage Index |
04/28 |
NA |
-3.8% |
| May 2 |
8:15 AM |
ADP Employment Change |
Apr |
NA |
209K |
| May 2 |
10:00 AM |
Factory Orders |
Mar |
NA |
1.3% |
| May 2 |
10:30 AM |
Crude Inventories |
04/28 |
NA |
3.978M |
| May 3 |
7:30 AM |
Challenger Job Cuts |
Apr |
NA |
-8.8% |
| May 3 |
8:30 AM |
Initial Claims |
04/28 |
NA |
388K |
| May 3 |
8:30 AM |
Continuing Claims |
04/21 |
NA |
3315K |
| May 3 |
8:30 AM |
Productivity-Prel |
Q1 |
NA |
0.9% |
| May 3 |
8:30 AM |
Unit Labor Costs |
Q1 |
NA |
2.8% |
| May 3 |
10:00 AM |
ISM Services |
Apr |
NA |
56.0 |
| May 4 |
8:30 AM |
Nonfarm Payrolls |
Apr |
NA |
120K |
| May 4 |
8:30 AM |
Nonfarm Private Payrolls |
Apr |
NA |
121K |
| May 4 |
8:30 AM |
Unemployment Rate |
Apr |
NA |
8.2% |
| May 4 |
8:30 AM |
Hourly Earnings |
Apr |
NA |
0.2% |
| May 4 |
8:30 AM |
Average Workweek |
Apr |
NA |
34.5 |
|
| |
| Gold and Silver Commentary |
| Global Futures |
Gold declined on Wednesday by 0.7% to $1,639.6; silver also decreased by 0.59% to $31.49. During April, gold decreased by 1.93% and silver by 3.07%.The gold silver ratio declined again to 51.48. During April the ratio remained nearly flat as gold has performed very similar to silver during the month. In the chart below are the shifts in this ratio during April (up to date).
Click here to read more. |
| |
| Crude Oil Commentary |
| Global Futures |
 Prices remain wedged between resistance at 104.90 and a rising trend line support set from mid-December, with a Bullish Engulfing candlestick pattern arguing for an upside bias. A break above 104.90 exposes falling trend line barriers at 105.28 and 106.49. Support is now at 101.51. Crude’s rally failed at the early month range and yesterday’s advance was completely retraced.
Click here to read more. |
| |
| Forex Commentary |
| Global Futures |
The Japanese yen is the strongest performer against a substantially weaker dollar at the close of European trade with the USDJPY off by 0.70% on the session. Although the Bank of Japan increased the size of its asset purchases by 10 trillion yen ($123 billion), the central bank also cut the amount of liquidity in the financial system by reducing the pool of funds used to extend ultra-low rate loans. The resulting 5 Trillion net increase was not enough to convince investors with yen strength persisting into the close of the week. The BoJ cited expectations for consumer prices to rise 0.7% from March 2013 to 2014 with Japan seen reaching its 1% target inflation soon after. Central Bank governor Massaki Shirakawa noted that the move aims to strengthen the “positive momentum” in the economy with the governor noting that, “it takes quite a long time for the effect of monetary easing to appear in the economy.” As officials scramble to combat deflationary pressures, the yen has continued to push higher with the low yielder outperforming all its major counterparts in early US trade.
Click here to read more. |
| |
| Fundamental Analysis: |
| Global Futures |
Commodity prices are on the upswing amid swelling risk appetite ahead of the opening bell on Wall Street. The chipper mood follows an unexpected pickup in German business confidence (albeit a very modest one) as well as broadly supportive outcomes on the day’s earnings calendar. The day’s key reports from Schlumberger, General Electric, Kimberly-Clark, Honeywell and McDonald’s uniformly showed better-than-forecast outcomes on headline EPS readings.
Click here to read more. |
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