Trade the News Market Internals Update at 12:00ET

***Looking Ahead***

– (GR) IMF meeting to approve release of its portion of the Greece tranche
– 13:30 (EU) ECB’s Bini Smaghi speaks in Poros, Greece
– 15:00 (US) May Consumer Credit: $4.0Be v $6.2B prior
– 17:00 (CO) Colombia May Exports FOB: no est v $4.7B prior
– 22:00 (CH) China Jun Consumer Price Index (CPI) Y/Y: 6.2%e v 5.5% prior
– 22:00 (CH) China Jun Producer Price Index (PPI) Y/Y: 6.9%e v 6.8% prior
– Saturday 22:00 (CH) China Jun Trade Balance: $14.2Be v $13.1B prior; Exports Y/Y: 18.6%e v 19.4% prior; Imports Y/Y: 25.3%e v 28.4% prior

10:32 AM Market Internals update at 10:30ET

– NYSE volume 165M shares, about 11% below its three-month average; decliners lead advancers by 5.9:1.
– NASDAQ volume 420M shares, about 4% below its three-month average; decliners lead advancers by 4.5:1.
– VIX index +3.5% at just over 16.00

5:49 AM TradeTheNews.com European Market Update: Peripheral spreads continue to widen with Italy being the focus; Markets await US payroll data

***Economic Data***

– (RU) Russia Narrow Money Supply w/e July 4th: 6.04T v 6.08T prior
– (SZ) Swiss Jun Unemployment Rate: 2.8% v 2.8%e (lowest level since Nov 2008); Unemployment Rate Seasonally Adj: 3.0% v 3.0%e v 3.0% prior
– (FI) Finland May Industrial Production M/M: 1.6 v 1.2% prior; Y/Y: 6.0% v 6.2% prior
– (FI) Finland May Preliminary Trade Balance: -€255M v -€240M prior
– (GE) Germany May Current Account: €6.9B v €7.0Be; Trade Balance: €14.8B v €12.2Be; Exports M/M: 4.3% v 1.5%e; Imports M/M: 3.7% v 1.5%e
– 2:30 (FR) Jun Bank of France Business Sentiment: no est v 103 prior
– (FR) Jun Bank of France Business Sentiment: v 103 prior
– (FR) France May Central Govt. Balance: -€ v -€61.4B prior
– (CZ) Czech May Construction Output Y/Y: -4.9% v -6.0% prior; Industrial Output Y/Y: 15.2% v 8.0%e
– (HU) Hungary May Preliminary Trade Balance: €719.8M v €479.3M prior
– (TU) Turkey May Industrial Production WDA M/M: -0.3% v -0.6% prior; Y/Y: 5.1% v 9.0% prior; Industrial Production NSA Y/Y: 8.0% v 8.1%e
– (NV) Netherlands May Industrial Production M/M: 0.3% v 0.1%e; Y/Y: 2.6% v 0.8% prior; Industrial Sales Y/Y: 23.0% v 13.0% prior
– (SW) Sweden May Industrial Production M/M: 2.6% v 0.4%e; Y/Y: 13.4% v 10.0%e
– (SW) Sweden May Industrial Orders M/M: 0.1% v 0.0%e; Y/Y: 8.6% v 9.4% prior (revised)
– (IT) Italy May Industrial Production M/M: -0.6% v -0.1%e; Y/Y: 4.9%% v 0.0% prior; Industrial Production WDA Y/Y: 1.8% v 2.2%e
– (UK) Jun PPI Input M/M: +0.4% v -0.1%e; Y/Y: 17.0% v 16.0%e
– (UK) Jun PPI Output M/M: 0.1% v 0.1%e; Y/Y: 5.7% v 5.5%e
– (UK) Jun PPI Output Core M/M: 0.2% v 0.2%e; Y/Y: 3.2% v 3.3%e
– (IC) Iceland Jun Preliminary Trade Balance (ISK): 1.8B v 6.8B prior

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