Wednesday, October 30, 2013

Morning Prep 10/30/13;

7:30am EST

Focus-Points this morning:
·       Traders in the US prepare ahead of FOMC news this afternoon
·       Analysts do not expect today’s FOMC to result in any further policy-changes in the US
·       FOMC not expected to surprise anyone, but will give clues to how the Fed views the recent Govt shutdown and impact on the ‘recovery’
·       Today’s ADP Employment report to be first glimpse at how Govt Shutdown affected the US jobs market
·       The Eurozone starting to show signs that the worst is over
·       Most European equities at all-time higher (along with US equities)
·       Spanish Q3 GDP registers first growth in 9 quarters
·       German unemployment rises for the 3rd straight month
·       Italian bond auctions see solid demand
·       FDAX is higher +.35% (9052.00)
·       Hang Seng is higher +2.00% (23304.00)
·       EUR/USD is higher +.15% (1.3763)
·       Gold is higher +.35% (1350.00)
·       Crude Oil is lower -1.02% (97.21)
·       E-Mini Dow is higher +.75% (15680)
·       E-Mini S&P is higher +.50% (1772.00)

Economic News on the schedule today:

This morning we begin with important employment and consumer prices news before we head into the afternoon FOMC Announcement.

Crude Oil traders will look forward to some fireworks after inventories are released today, but the spotlight will certainly be on the FED in the middle of the afternoon.

8:15am EST:             ADP Employment Report
8:30am EST:             Consumer Price Index
10:30am EST:           Crude Oil Inventories
2:00am EST:             FOMC Announcement

FOMC Announcement:
The FOMC announcement at 2:00 p.m. ET for the October 29-30 FOMC policy meeting is expected to leave policy rates unchanged. Market focus will be on the FOMC's characterization of the economy-especially the labor market-and on any hints on timing of the start of reducing quantitative easing.

Which markets will be affected by this news the most today?
This morning we can expect to see challenging price-action from Gold ahead of the FOMC report.  Crude Oil will likely be impacted by the coming release of inventories at 1030am EST.

Are any of these Red-Star news events today?

Yes, Consumer Price Index and the FOMC Announcement are both Red-Star news events, which mean we will be watching them closely to see the reaction in the price-action before we attempt to trade it and always try to leave a ‘runner’ on the trade.

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