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1. Market Commentary
2. Support and Resistance Levels – S&P, Nasdaq, Dow Jones, Russell 2000, Dollar Index
3. Support and Resistance Levels – Gold, Euro, Crude Oil, T-Bonds
4. Support and Resistance Levels – Corn, Wheat, Beans, Silver
5. Economic Reports for Tuesday January 29, 2013
Hello Traders,
For 2013 I would like to wish all of you discipline and patience in your trading!
From our friends at:
www.TradeTheNews.com : This is what you need to know week of Jan 28th
***Reminder: For a complete list of earnings, conf calls and events please see the Calendar tab in the TTN platform-As global markets trade at multi-year highs, this week will be heavy in terms of US and European corporate earnings. Notable US firms due to report include Aetna, Amazon, Boeing, Caterpillar, Chevron, Colgate, Corning, Dow Chemical, Exxon, Facebook, Ford, Ingersoll-Rand, Mastercard, Merck, Potash, Pfizer, Under Armour, UPS, Whirlpool, Wynn Resorts and Yahoo. European firms seen reporting include Astrazeneca, BBVA, British Sky, BT Group, Deutsche Bank, Diageo, Electrolux, Ericsson, Fiat, H&M, Infineon, LVMH, Philips, Roche, Royal Dutch Shell and Santander.
-In terms of US macro events, this week’s Fed meeting (Jan 29-30) is expected to be the focus, along with Jan non-farm payrolls and the initial print for Q4 GDP.
-European short-term interest rates (euribor), ECB lending operations and interest rate differentials are expected to be in focus, after yields rose sharply on Friday’s session, as the ECB said that banks would repay €137.2B in 3-year loans this week. Last week, Germany’s 2-yr bond yields hit multi-month highs. European data releases for the week include final manufacturing PMIs, German Jan unemployment, preliminary Q4 GDP from Spain and Belgium, Dec retail sales, Jan confidence figures and prelim Jan CPI data from Germany and the euro zone.
-In terms of euro zone fixed income, debt sales by Germany and Italy will dominate this week’s supply.
-On the issue of currency wars, China PBoC Vice Gov Yi Gang called for better communication and coordination on foreign exchange among the G20 countries. Amid the comments, China set the yuan weaker for the 3rd consecutive session. Also, on Monday’s Asian session sharp declines were seen for the Singapore Dollar, South Korean Won, Taiwan dollar and Thai Baht. Japan PM Abe advisor Takenaka said that it is not fair to say that the yen has weakened too much, as he noted a USD/JPY rate of ¥95 would be “appropriate.” Bank of Korea Gov Kim said he believed that the monetary actions taken by Japan were done in a manner which was too hasty. An unnamed ECB official was quoted at Davos as stating that the central bank was “not very happy” with moves toward competitive devaluations. Continue reading “Trading Levels and Reports for January 29, 2013”
