January 13, 2012
- in Uncategorized by schooloftrade
Day Trading Strategies for Dollar Index , Euro, Crude, Russell and Gold futures
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The James’ Report: Day Trading Strategies for Professional Traders
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***Notes/Observations
from around the world***
from around the world***
–
European shares rallied after Italy managed to sell bonds in its indicated
range. Yesterday Italy successfully auctioned one year bills, while Spain sold
twice the intended amount; the streak of well-received bond auctions has
reignited risk appetite in the markets. Commodities related names also gained
as Brent jumped over $100.
European shares rallied after Italy managed to sell bonds in its indicated
range. Yesterday Italy successfully auctioned one year bills, while Spain sold
twice the intended amount; the streak of well-received bond auctions has
reignited risk appetite in the markets. Commodities related names also gained
as Brent jumped over $100.
–
China foreign reserves has its first fall in 14 years
China foreign reserves has its first fall in 14 years
–
UK PPI Output falls on month for first time since June 2010
UK PPI Output falls on month for first time since June 2010
–
ECB deposits at fresh all-time highs of €489.9B
ECB deposits at fresh all-time highs of €489.9B
–
Spanish Bank borrowing at the ECB hit highest level since July 2010
Spanish Bank borrowing at the ECB hit highest level since July 2010
–
Italian bond auctions results were mixed at best with the 2018 issuance a bit
of a concern
Italian bond auctions results were mixed at best with the 2018 issuance a bit
of a concern
–
ECB’s Liikanen commented that the ECB Council had an extensive debate at its
recent policy meeting and noted that views on growth among members were
‘converged strongly’ . He echoed Draghi’s press conference that euro zone
economic growth risks were on the downside but might stabilizing at low levels.
Economic growth in Finland was threatened by decline in exports; and the
country’s debt growth would not curb during the current govt
ECB’s Liikanen commented that the ECB Council had an extensive debate at its
recent policy meeting and noted that views on growth among members were
‘converged strongly’ . He echoed Draghi’s press conference that euro zone
economic growth risks were on the downside but might stabilizing at low levels.
Economic growth in Finland was threatened by decline in exports; and the
country’s debt growth would not curb during the current govt
–
German Govt said to be cutting its official 2012 growth outlook to +0.75% from
the current +1.0% view at some time next week
German Govt said to be cutting its official 2012 growth outlook to +0.75% from
the current +1.0% view at some time next week
–
Netherlands PM Rutte commented that capital markets reward those govt for
managing debt but expected market volatility to continue in 2012
Netherlands PM Rutte commented that capital markets reward those govt for
managing debt but expected market volatility to continue in 2012
–
Japanese Fin Azumi reiterated that the
European situation remained a concern and sought to continue to cooperate with
US on Europe . On Iran he noted that details on reducing oil imports from the
country had yet to be worked out
Japanese Fin Azumi reiterated that the
European situation remained a concern and sought to continue to cooperate with
US on Europe . On Iran he noted that details on reducing oil imports from the
country had yet to be worked out
–
Japan PM Noda to discuss Iranian sanctions with US officials next week and he
had strong concerns about Iran nuclear development and sought to tackle it via
diplomacy along with the US
Japan PM Noda to discuss Iranian sanctions with US officials next week and he
had strong concerns about Iran nuclear development and sought to tackle it via
diplomacy along with the US
– Algerian Oil Minister
Khelil commented that it should be possible to find alternatives for EU’s oil
purchases from Iran. He added that if the Hormuz route is shut down, oil prices
could rise to $150-200/barrel and conversely the current economic conditions
could push prices lower to $50/barrel. Lastly he noted that the crisis in
Nigeria could be maintained if workers continue strike action
Khelil commented that it should be possible to find alternatives for EU’s oil
purchases from Iran. He added that if the Hormuz route is shut down, oil prices
could rise to $150-200/barrel and conversely the current economic conditions
could push prices lower to $50/barrel. Lastly he noted that the crisis in
Nigeria could be maintained if workers continue strike action
–
EU diplomat commented that there was no convergence yet on any sanction date on
Iran
EU diplomat commented that there was no convergence yet on any sanction date on
Iran
In the Papers today:
–
The Bundesbank’s Dombret reiterated that he sees no danger of a German credit
crunch. He did note that the debt crisis has weakened many euro zone banks, and
that German banks need to clean up their balance sheets and ensure there is
enough capital to deal with shocks from exposure to the EU periphery states and
Eastern Europe. The process of deleveraging by banks will not be possible
without a temporary slowdown in the pace of the broader economy. The risk of
credit crunch for EU peripherals, as well as Italy and Spain, is notably
higher.
The Bundesbank’s Dombret reiterated that he sees no danger of a German credit
crunch. He did note that the debt crisis has weakened many euro zone banks, and
that German banks need to clean up their balance sheets and ensure there is
enough capital to deal with shocks from exposure to the EU periphery states and
Eastern Europe. The process of deleveraging by banks will not be possible
without a temporary slowdown in the pace of the broader economy. The risk of
credit crunch for EU peripherals, as well as Italy and Spain, is notably
higher.
–
In the Telegraph, analysts commented on plans by the ECB to ease certain
collateral rules. According to analysts at Citi, if the ECB allowed euro zone
banks to use outstanding loans as collateral to borrow ECB funds, then it could
increase the pool of available collateral by €11.7 trillion. The ECB is
expected to further discuss collateral rules on January 26th.
In the Telegraph, analysts commented on plans by the ECB to ease certain
collateral rules. According to analysts at Citi, if the ECB allowed euro zone
banks to use outstanding loans as collateral to borrow ECB funds, then it could
increase the pool of available collateral by €11.7 trillion. The ECB is
expected to further discuss collateral rules on January 26th.
–
Recent trading in Greece’s government bonds and credit default swaps (CDS)
suggested some investors expect a PSI deal to be reached. Investors are also
betting that an agreement with bondholders might not be voluntary and lead to a
technical default. The price of Greece’s five-year CDS has risen to $7 million
from $6 million in the past few weeks, which could reflect rising expectations
that the debt agreement will not be voluntary. Most Greek bonds are trading
between 21-24% of face value, which is equal to what bondholders expect to
recover.
Recent trading in Greece’s government bonds and credit default swaps (CDS)
suggested some investors expect a PSI deal to be reached. Investors are also
betting that an agreement with bondholders might not be voluntary and lead to a
technical default. The price of Greece’s five-year CDS has risen to $7 million
from $6 million in the past few weeks, which could reflect rising expectations
that the debt agreement will not be voluntary. Most Greek bonds are trading
between 21-24% of face value, which is equal to what bondholders expect to
recover.
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Today’s Economic News:
Our
day trading
strategies today will depend on the news, and this morning’s
news has been revolving around strike and protests in Liberia so people are
watching crude oil futures closely. We
also know that 830am this morning will bring US and Canada’s International
Trade, along with Import/Export Prices which should get these markets moving
early for us. Once we get through the
930am EST US Open we have 955am Consumer Sentiment which is expected to
continue its recent 6-month uptrend.
Traders are always watching sentiment numbers because it clarifies what
other economic news can be interpreted-as such as the jobless claims numbers
from yesturday.
day trading
strategies today will depend on the news, and this morning’s
news has been revolving around strike and protests in Liberia so people are
watching crude oil futures closely. We
also know that 830am this morning will bring US and Canada’s International
Trade, along with Import/Export Prices which should get these markets moving
early for us. Once we get through the
930am EST US Open we have 955am Consumer Sentiment which is expected to
continue its recent 6-month uptrend.
Traders are always watching sentiment numbers because it clarifies what
other economic news can be interpreted-as such as the jobless claims numbers
from yesturday.
We
also must remember today is not only a Friday, but a long weekend ahead of
Martin Luther King Holiday on Monday, a federal holiday in which we can only
assume that people came back from their holiday break and have been exhausted
running around trying to get back into their routines and this may be a slow
day very quickly after 1030am EST today.
also must remember today is not only a Friday, but a long weekend ahead of
Martin Luther King Holiday on Monday, a federal holiday in which we can only
assume that people came back from their holiday break and have been exhausted
running around trying to get back into their routines and this may be a slow
day very quickly after 1030am EST today.
We
need to watch market
personality closely this morning making sure we don’t get left ‘holding the
bag’ around 1100am EST so keep an eye on the clock.
need to watch market
personality closely this morning making sure we don’t get left ‘holding the
bag’ around 1100am EST so keep an eye on the clock.
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