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May 18 23:36 | London:
May 19 4:36 | Tokyo:
May 19 12:36
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US Market Update TRADETHENEWS.COM
STAFF
Traders Wait for FOMC Minutes
DJIA +-32 S&P 500 -2 Nasdaq -13.2
Economic Data
- (HU) Hungary Central Bank's Minutes
- (BR) Brazil May Retail Sales M/M: -0.8% v 0.5%e; Y/Y: 8.2% v 10.2%e
- (US) May Trade Balance: -$48.7B v -$48.4Be
- (US) WASDE Corp Forecast
- (CA) Canada May Int'l Merchandise Trade: -C$790M v -C$430Me
- (MX) Mexico May Final Trade Balance: $362.7M v $362.9Me
- (US) May Wholesale Inventories: +0.3% v 0.3%e
- (US) Weekly DOE US Crude Oil Inventories -4.7M v -1.5Me; Gasoline: +2.75M v -500Ke; Distillate: +3.1M v +500Ke; Utilization: 92.7% v 92.1%e (highest since July 2007)
- Low volumes and little consequential data is making for a subdued trading session this morning, following yesterday's slide in US markets. Europe was relatively quiet overnight as well, with the exception of Spain's announcement of more cost-cutting measures and reports of police in Madrid being forced to use rubber bullets to break up anti-austerity protests. Currently traders are waiting for more color on the most recent Fed rate decision from the FOMC minutes disclosure, which is due at noon. Yesterday the DJIA closed below its 50-day moving average, and some analysts have suggested the technical move suggests a sharp sell-off is possible. One highlighted that the close below this key indicator on May 4 prompted a big slide over the next month, but the May slide did follow a terrible US GDP report and extreme turmoil in Europe. The US trade deficit narrowed somewhat in May, thanks mostly to lower energy imports and less-expensive crude. There was also a slight ...
Economic Data
- (HU) Hungary Central Bank's Minutes
- (BR) Brazil May Retail Sales M/M: -0.8% v 0.5%e; Y/Y: 8.2% v 10.2%e
- (US) May Trade Balance: -$48.7B v -$48.4Be
- (US) WASDE Corp Forecast
- (CA) Canada May Int'l Merchandise Trade: -C$790M v -C$430Me
- (MX) Mexico May Final Trade Balance: $362.7M v $362.9Me
- (US) May Wholesale Inventories: +0.3% v 0.3%e
- (US) Weekly DOE US Crude Oil Inventories -4.7M v -1.5Me; Gasoline: +2.75M v -500Ke; Distillate: +3.1M v +500Ke; Utilization: 92.7% v 92.1%e (highest since July 2007)
- Low volumes and little consequential data is making for a subdued trading session this morning, following yesterday's slide in US markets. Europe was relatively quiet overnight as well, with the exception of Spain's announcement of more cost-cutting measures and reports of police in Madrid being forced to use rubber bullets to break up anti-austerity protests. Currently traders are waiting for more color on the most recent Fed rate decision from the FOMC minutes disclosure, which is due at noon. Yesterday the DJIA closed below its 50-day moving average, and some analysts have suggested the technical move suggests a sharp sell-off is possible. One highlighted that the close below this key indicator on May 4 prompted a big slide over the next month, but the May slide did follow a terrible US GDP report and extreme turmoil in Europe. The US trade deficit narrowed somewhat in May, thanks mostly to lower energy imports and less-expensive crude. There was also a slight ...