Trade the News Market Internals Update

***Looking Ahead***

– 11:00 (EU) EU President Van Rompuy speaks at European Policy Centre
– 12:30 (EU) ECB’s Mersch speaks at event in Hamburg
– 13:00 (EU) ECB’s Constancio speaks in Paris
– 13:30 (BR) Brazil May Tax Collections (BRL): 71.1Be v 85.2B prior
– 20:00 (EU) ECB’s Trichet speaks in New York

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

– NYSE volume 190M shares, about 5% below its three-month average; advancers lead decliners by 1.3:1.
– NASDAQ volume 385M shares, about 15% below its three-month average; advancers lead decliners by 1.5:1.
– VIX index -0.4% at just over 21.00

5:50 AM TradeTheNews.com European Market Update: Contagion fears began to envelope the markets; Spain sells less than target at its bond auctions

***Economic Data***

– (IN) India Central Bank Interest raised the Repo and Reverse Rates by 25bps to 7.50% and 6.50% respectively; The Cash Reserve Ratio was maintained at 6.00%
– (IN) India Primary Articles WPI w/e Jun 4th Y/Y: 12.9% v 11.5% prior; Food Articles WPI Y/Y: 9.0 v 9.0% prior
– (SP) Spain Q1 Labor Costs Y/Y: +0.8% v -0.3% prior
– (TU) Turkey May Consumer Confidence: 92.9 v 93.5 prior
– (SZ) Swiss Q1 Industrial Production Q/Q: % v -7.8%e; Y/Y: % v 5.6%e
– (RU) Russia Gold & Forex Reserve w/e Jun 10th: $528.0B v $522.8B prior
– (SZ) Swiss Nation Bank (SNB) leaves the 3-Month Libor Target Rate unchanged at 0.25%
– (NV) Netherlands Apr Retail Sales Y/Y: 3.4% v 1.5% prior
– (SW) Sweden May Average House Prices (SEK): 1.986M v 2.058M prior
– (PH) Philippines Central Bank (BSP) leaves the Overnight Borrowing unchanged at 4.50%; Not Expected
– (IT) Italy May Final CPI (NIC incl. tobacco) M/M: 0.1% v 0.1%e; Y/Y: 2.6% v 2.6%e
– (IT) Italy May Final CPI EU Harmonized M/M: 0.2% v 0.2%e; Y/Y: 3.0% v 3.0%e
– (AS) Austria May Consumer Price Index M/M: 0.0% v 0.5% prior; Y/Y: 3.2% v 3.3% prior
– (RU) Russia May Producer Prices M/M: 1.2% v 1.5%e v 2.0% prior; Y/Y: 19.2% v 19.0%e
– (HK) Hong Kong May Unemployment Rate: 3.5% v 3.5%e
– (UK) May Retail Sales Ex Auto Fuel M/M: -1.6% v -0.6%e; Y/Y: 0.0% v 1.7%e
– (UK) May Retail Sales (with Auto Fuel) M/M: -1.4% v -0.6%e; Y/Y: 0.2% v 1.5%e
– (EU) Euro Zone May CPI M/M: 0.0% v 0.0%e; Y/Y: 2.7% v 2.7%e; Core CPI Y/Y: 1.5% v 1.6%e
– (EU) Euro Zone Q1 Employment Q/Q: 0.1% v 0.1% prior; Y/Y: % v 0.3% prior
– (GR) Greece Q1 Unemployment Rate: 15.9% v 14.2% prior
– (IS) Israel Q1 Preliminary GDP Annualized: 4.8% v 4.7% prior

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