Forex Market Holidays 2010
Economic Analysis Day Trading News: Events April 22, 2010
Economic Calendar of Events
Produce Price Index March
Last month the producer price index fell 0.6% compared with the jump of 1.4% in January. The PPI measures prices at the producer level before passing the cost along to consumers. The increase in inflation at the producer level would higher interest rates and higher stock prices. Moreover, inflation decreases mean lower interest rates and lower stock prices. The following Annual PPI graph shows a trend that softer than the monthly estimates.
Weekly Claims jobless
During the first week of April CareerBuilder.com provided a sense of optimism as the number of job vacancies increased. However initial Petitions Unemployment rose for the second straight week to 484 000 to 24K. The increase may be due to the Easter holidays and national holidays Cesar Chavez in California.
Unemployed claims numbers must be observed from an average of four weeks on the move offered a better perspective to the weekly report. Previously 4 weeks moving average increased from 7500-457750 however, remains lower than the previous month.
March Existing Home Sales
Construction last month existing homes fell for the third month falling to 0.6%, which is the lowest in eight months. The low number could have been the result of winter storms that hit home viewing. Existing home sales provide the demand for houses built homes, condominiums and cooperatives closed sales during the month. Home sales provide a large share of the housing industry on Friday New Home Sales numbers.
The Last month we mentioned two housing sector stocks: Lowe's and Home Depot. At present the two populations are near their 52-week highs. Another way looking at the current sales numbers is that the owners houses have resumed fix your current home instead of buying or pass new ones.
Natural Gas Weekly Report
Last week, the Energy Information Administration reported that natural gas rose more than expected 87 billion cubic feet for the week of April ninth. The increase in inventories will most likely keep prices stable or lower because supply exceeds demand.
The Utilities SPDR ETF (XLU) reached a maximum of 52 weeks of 32.08 in December before trading sideways at their current levels. If natural gas inventories continue to rise, then you must break the support level of 28.50 before taking any short positions in natural gas.
Resignation
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