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Pivotfarm Daily News Harvest 5th August 2010
Markets in a Flash
·
Overnight Japanese markets
closed higher, reversing yesterday’s losses. The Nikkei 225 was up +1.73%.
·
Equity markets in China finished
lower overnight. The Shanghai
index was down -0.67%, while the Hang Seng finished flat at +0.01%.
·
European equity markets are
pushing higher this morning. The Stoxx 50 is up
+0.55% after it opened flat this morning.
·
Commodities are having a mixed
session today. Grain prices are pushing higher on the news of a Russian export
ban. Oil is trading just above $82.00 while Gold is still at the $1200.00
level.
·
The EUR/USD is pushing higher
and is close to its 3 month high from a few day back.
·
The USD seems to be looking
slightly weak today, most currencies seem to have made an advance against it in
the past few hours.
·
US equity futures are very
slightly higher this morning, about an hour before the opening bell.
News focus
German industry continues to look strong
Germany’s industrial orders data came in to show June’s orders 3.2% higher
than the previous month. This was a stronger than expected figure and shows
that Europe’s largest economy is still
recovering strongly. The strength in orders has been coming from the East in
particular China, but this
recent data has seen orders from within Europe
increase by 11.3%. This may suggest that the health of the Eurozone is better
than expected.
Russia bans grain exports
Vladimir Putin,
Prime Minister of Russia has announced that a temporary ban on the export of
grain from the country will take effect from the 15 August. The export ban has
been implemented after Russia’s
crops have been decimated by a drought in the country. The ban has been put in
place to protect the country against an increase in the domestic price of the commodity.
This news has sent the price of grain on the worldwide exchanges higher, in Chicago the price of
wheat is up nearly 80% in about a month.
Just Released
0830ET
- Jobless Claims
Previous 457 K Consensus 455 K
Consensus Range 444 K to 465 K Actual 479 K
This week’s jobless claims figure came in
far worse than consensus and worse than previous. This shows that considerable
more people than expected and more than last week have claimed for jobless
insurance in the US.
This indicates that the employment situation in the US is worse than expected and is
not a good sign ahead of tomorrows non-farm payrolls data.
Coming up Today
1030ET – Natural Gas
Report
The weekly report by the Energy Information
Administration provides data on US natural gas stocks. A report showing a drop
in natural gas stocks may signal increasing demand in the economy and see an
increase in the price of the commodity.
Provided by Pivotfarm The Home of Support and Resistance Trading
»
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Thanks for the news overview BTW
Have been watching trades and ask/bid variations in a european bank share lately, peculiar action going on to say the least.
Anyone has a clue what recurrent occurrence of an executed order of exactly the same amounts of shares at around a stable current share price means? I see a recurrent amount of 43 shares appear on the sell side. Is that some trigger amount for an algorithm to figure out the depth of the order book? Or a buffer amount that blocks "fake" orders deeper in the orderbook? It sure looks weird to see the same amount of shares being traded over and over again, in between larger trades... What's the use, if no profit is made (the spread seems minimal and the amount of shares is ridiculously low, you need a 0.25 euro spread at least to make it profitable). So I was wondering, if "they" keep share prices up or push them up, they must be buying everything below a certain level for it not to drop. How can they keep on doing this? At one point there will simply be no bids, no? Why stocks keep going up, like their purchasing power is unlimited? They obviously sell to themselves mostly, how can this be profitable?
Them 43 shares keep appearing... intriguing