Each day it is REALLY important if you are trading to understand what could trip you up. I write a column everyday that attempts to do this day in and day out. This is highlight of day’s piece and those events all traders need to be aware of.
Earnings due after the close (by avg. trade volume):GILD EQR YHOO ILMN FISV EW VMG KIM UDR.
Due Wednesday morning (by avg. trade volume descending): MRK CMCSA MDLZ GM SO ADP ABB ALXN BDX EXC ETN MPC BEN.
Auto sales due today. Chrysler out already and beat estimates. General Motors and Ford are still to report.
Federal Reserve Kansas City President Esther George will speak at 1:00 p.m. EST.
China Service PMI is due out at 8:45 p.m. EST.
The Bank of Japan (BOJ) releases minutes from its latest meeting at 6:30 p.m. EST.
On Wednesday in Japan, Bank of Japan Governor Kuroda will speak and may expand on last week’s move to negative interest rates.
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Again, I want to push you. Yes you published an economic calendar that we all look at already. There is no analysis. We know what Service Markit PMI out of China will be cuz we have the FLASH data already and they are normally pretty close. George speaking today is going to bring HAWK talk, which is strange that Eur/USD is stronger going into it today (Which pulls back Gold, but don’t pat yourselves on the back for that ABX call cuz IMHO Gold is a safe haven play that will continue it’s run since Jan..if you disagree I would love to see your thesis). For Kuroda, Arrow guy PM Abe who has more to say then the BoJ, lol, was already out saying last night that Neg Rates is not the last resort for BoJ, Kuroda will probably agree with that. BTW, I push you, cuz it pushes me. Macro is not my strong point and I have underestimate the powers of Central bank Action…this Bear is Learning.