Trade the News Market Internals Update

***Looking Ahead***

– 11:00 (US) Fed to purchase $2.5-3.5B in Notes/Bonds
– 11:30 (US) Treasury to sell $27B in3-Month and $24B in6-Month Bills
– 11:00 (IT) ECB’s Bini Smaghi and OECD’s Padoan speak at Conference in Milan

10:31 AM Market Internals update at 10:30ET

– NYSE volume 170M shares, about 9% below its three-month average; decliners lead advancers by 7.7:1.
– NASDAQ volume 425M shares, about 3% below its three-month average; decliners lead advancers by 5.2:1.
– VIX index +11% at just over 17.00

5:38 AM TradeTheNews.com European Market Update: China again stresses confidence in Europe ahead of EU emergency ‘coordination’ meeting on debt crisis

***Economic Data***

– (JP) Japan Jun Preliminary Machine Tool Orders Y/Y: 53.3% v – 34.0% prior
– (FR) France May Industrial Production M/M: 2.0% v 0.5%e; Y/Y: 2.6% v 0.5%e
– (FR) France May Manufacturing Production M/M: 1.5% v 0.3%e; Y/Y: 5.4% v 0.5%e v 2.6% prior
– (PH) Philippines May M3 Money Supply Y/Y: 8.0% v 7.3% prior
– (PH) Philippines May Bank Lending Y/Y: 20.6% v 18.0% prior; Bank Lending Net of RRPs Y/Y: 18.8 v 14.2% prior
– (SP) Spain May House transactions Y/Y: -18.3% v -29.7% prior
– (TU) Turkey May Current Account: -$7.8B v -$7.9Be
– (DE) Denmark May Current Account (DKK): 9.3BB v 8.7Be; Trade Balance Ex-Shipping: 5.8B v 7.0Be
– (DE) Denmark Jun CPI M/M: -0.2% v -0.1%e; Y/Y: 3.0% v 3.2%e
– (DE) Denmark Jun CPI EU Harmonized M/M: -0.3% v +0.2% prior; Y/Y: 2.9% v 3.1% prior
– (CZ) Czech Jun International Reserves: $43.2 v $43.1B prior
– (NO) Norway Jun CPI M/M: -0.4 v 0.0%e; Y/Y: 1.3% v 1.7%e
– (NO) Norway Jun CPI Underlying M/M: -0.2% v +0.2%e; Y/Y: 0.7% v 1.0%e
– (NO) Norway Jun Producer Prices incl.Oil M/M: -0.9% v -2.1% prior; Y/Y: 14.4% v 18.0% prior
– (GR) Greece May Industrial Production Y/Y: -10.0% v -10.9% prior
– (IS) Israel Jun Trade Balance: -$1.6B v -$2.0B prior
– (PO) Portugal May Construction Works Index: 73.6 v 69.8 prior
– (PO) Portugal May Trade Balance: -€1.7B v -€1.6B prior
– (IR) Ireland May Industrial Production M/M: 0.4% v 1.2% prior; Y/Y: 0.1% v 4.4% prior

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