Economic Events – FX

GB:CIPS/PMI Services Index http://feedproxy.google.com/~r/EconomicEventsFx/~3/15U-AfZnUlg/CIPSPMISI452940.html May 19th 2012, 23:12

June 7, 2012 04:30 ETPriorLevel 53.3Definition The Markit/CIPS UK Services PMI covers transport & communication, financial intermediation, business services, personal services, computing & IT and hotels & restaurants.Description Investors need to keep their fingers on the pulse of the economy because it dictates how various types of investments will perform. By tracking economic data such as the ISM non-manufacturing index in the U.S. and the Markit Services PMIs elsewhere, investors will know what the economic backdrop is for the various markets. The stock market likes to see healthy economic growth because that translates to higher corporate profits. The bond market prefers less rapid growth and is extremely sensitive to whether the economy is growing too quickly and causing potential inflationary pressures.The Markit PMI services data give a detailed look at the services sector, how busy it is and where things are headed. The indexes are widely used by businesses, governments and economic analysts in financial institutions to help better understand business conditions and guide corporate and investment strategy. In particular, central banks in many countries use the data to help make interest rate decisions. PMI surveys are the first indicators of economic conditions published each month and are therefore available well ahead of comparable data produced by government bodies.

Commodity Blog

Commodity Prices and Analysis

Technical Analysis, May 21st — May 25th, 2012 http://www.commodityblog.com/commodity-prices/technical-analysis-may-21st-may-25th-2012 May 19th 2012, 16:56

The technical analysis, that includes the indicators’ data and major pivot points for Brent Oil, Gold, Silver and Copper as traded on spot market as of May 19th, 2012:

Indicators

Moving Averages RSI Parabolic SAR CCI

Oil Short Oversold Short Short

Gold Short Neutral Short Neutral

Silver Short Neutral Long Neutral

Copper Short Oversold Short Short

Floor Pivot Points

3rd Sup 2nd Sup 1st Sup Pivot 1st Res 2nd Res 3rd Res

Oil 98.52 102.46 104.79 108.73 111.06 115.00 117.33

Gold 1502.33 1518.07 1545.93 1561.67 1589.53 1605.27 1633.13

Silver 25.60 26.25 27.42 28.06 29.23 29.88 31.05

Copper 317.00 330.85 337.95 351.80 358.90 372.75 379.85

Woodie’s Pivot Points

2nd Sup 1st Sup Pivot 1st Res 2nd Res

Oil 102.06 103.99 108.33 110.26 114.60

Gold 1521.10 1552.00 1564.70 1595.60 1608.30

Silver 26.38 27.68 28.19 29.49 30.01

Copper 329.16 334.58 350.11 355.53 371.06

Camarilla Pivot Points

4th Sup 3rd Sup 2nd Sup 1st Sup 1st Res 2nd Res 3rd Res 4th Res

Oil 103.67 105.40 105.97 106.55 107.69 108.27 108.84 110.57

Gold 1549.82 1561.81 1565.81 1569.80 1577.80 1581.79 1585.79 1597.78

Silver 27.59 28.09 28.25 28.42 28.75 28.92 29.08 29.58

Copper 333.53 339.29 341.21 343.13 346.97 348.89 350.81 356.57

Fibonacci Retracement Levels

Oil Gold Silver Copper

100.0% 112.67 1577.40 28.71 365.65

61.8% 110.27 1560.74 28.02 357.65

50.0% 109.54 1555.60 27.80 355.18

38.2% 108.80 1550.46 27.59 352.70

23.6% 107.88 1544.09 27.32 349.64

0.0% 106.40 1533.80 26.90 344.70

(…) Read the rest of Technical Analysis, May 21st — May 25th, 2012 (15 words) Posted on Commodity blog.

Economic Events – Equities

US:Jobless Claims http://feedproxy.google.com/~r/EconomicEventsEquities/~3/ZEl3thAXnAQ/LIC450905.html May 19th 2012, 01:31

May 24, 2012 08:30 ETPriorConsensusConsensus RangeNew Claims – Level 370K 371K 361K to 378KMarket Consensus Before Announcement Initial jobless claims were unchanged in the May 12 week at 370,000. The May 5 week, which was revised slightly upward, was also at 370,000 while the week before that, the April 28 week, was at 368,000. The four-week average was down sizably for a second week, down 4,750 to 375,000. Continuing claims have been trending strongly lower though the latest data showed a small rise to 3.265 million. But the four-week average was down slightly to 3.283 million.Definition New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.Description Jobless claims are an easy way to gauge the strength of the job market. The fewer people filing for unemployment benefits, the more have jobs, and that tells investors a great deal about the economy. Nearly every job comes with an income that gives a household spending power. Spending greases the wheels of the economy and keeps it growing, so a stronger job market generates a healthier economy.Theres a downside to it, though. Unemployment claims, and therefore the number of job seekers, can fall to such a low level that businesses have a tough time finding new workers. They might have to pay overtime wages to current staff, use higher wages to lure people from other jobs, and in general spend more on labor costs because of a shortage of workers. This leads to wage inflation, which is bad news for the stock and bond markets. Federal Reserve officials are always on the look out for inflationary pressures.By tracking the number of jobless claims, investors can gain a sense of how tight, or how loose, the job market is. If wage inflation threatens, its a good bet that interest rates will rise, bond and stock prices will fall, and the only investors in a good mood will be the ones who tracked jobless claims and adjusted their portfolios to anticipate these events.Just remember, the lower the number of unemployment claims, the stronger the job market, and vice versa.Source Employment and Training Administration, U.S. Department of Labor.Availability Thursdays.Coverage Week-ending Saturday before the release.Revisions Yes.