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FEAR NOT Brave Investors
 

Prozac
 

Strange times But remember The Joker once served as the Iranian ambassador for the United Nations.

Anxiety - Job Losses - Earnings

The Week That Was:

The week saw the end of April which housed the biggest monthly surge in over 30 years, the S&P 500 gained 12.7% ,the Dow 11.1%. The Nasdaq closed 15.5% higher for April, its biggest one-month gain since June 2000. However May Day brought Stocks down on Friday led by Amazon down 7.6%. The Dow fell 2.5% as Dow Inc and Exxon Mobil each fell more than 7%. The S&P 500 lost 2.8%. Oil regained some of it;s composure after being under siege with the COVID Demand destruction since coronavirus fears hit stock investors mid-February, The backdrop of the Covid-19 crisis.

Despite all the uncertainty that persists regarding the coronavirus, optimism is growing that the virus may be peaking in major global hot spots and that the Fed and Government have delivered enough stimulus to provide a safety-net for corporate America. How important is positive sentiment?  This week we saw more hope and dissappointment with the GILD test results as Gilead Coronavirus Drug Remdesivir showed Positive Recovery Results. I

The reality is we are experiencing unprecedented levels of unemployment claims. The US Labor Department reported the jobless claims of over 30 million in just six weeks as the Coronavirus hits the economy. This sends the unemployment rate soaring towards 13 to 15%.

The Fed left rates unchanged as expected and Fed Chairman Jerome Powell continuing on low rates and QE forever for struggling businesses and governments to take the edge off the economic damage.  The Fed QE infinity programme is a yield curve control policy with long government bond yields coming down. Bond supply and continued central bank resistance to more negative policy rates limits the move.

Central banks have been cutting rates and adding liquidity to avoid systematic failure. Where to from here?  The world isolates with added financial, fear and psychological damage escalating. Investors will continue to monitor updates related to COVID-19  in the face of depression. The virus and unexpected consequences keep “fat tail risk”, in both directions alive. 

Historically bear market rallies are fast and furious, and we are at the beginning of an economic recession (depression). In 2008 we had a 20% and 25% bounce in the S&P 500 during the total 57% top to bottom price fall. For the virus we have the great unknown with medical expertise not at a consensus how the virus destruction and recovery will play out.

Will virus cases level off in late spring and vanish so things can get back to some sort of normality by late summer? Or will there be a second wave of cases during the autumn/winter, forcing new lockdowns or leading to fear and voluntary social distancing (a W-recession scenario). For how long are you immune after having had the virus, a long time or a couple of months? Will there be a vaccine and when?

What will right the ship? At this point people seek comfort, nothing short of massive fiscal responses will gve that until the disease fear factor is reduced. Forward two weeks and we have warmer climates in the Northern hemisphere and with that hope, but then there is the Southern hemisphere.Meantime be smart and self isolate and stay in contact with loved ones.

Our best advice is stay rational and be prepared for many alternatives, either way. With crisis comes opportunity. From a market point of view this is not unprecedented, many other bubbles have popped with similar results. What is unprecedented is the pandemic, the mass media and social media fear mongering, the massive QE and printing and the strange era of entitlement and no responsibilty fed down from politicians to the youth of today for electoral purproses. Put all that together and we see the result.  Again this isn't unprecendented just a different catalyst and fuel. Stay tuned. take a breath and think clearly.

I Wonder To Myself

This maybe one of the wizard's greatest moments of redirection. "The same extreme bulls are now extreme bears, what did we tell you about the madness of crowds?"

For now the focus is that the virus incubates for around 2 weeks so how many  carriers is an exponential number. Patient zero was from Wuhan, a city of over 11 million. (Yet the infections have slowed dramatically) With this knowledge shrewd investors are looking past past earnings rebound and focusing on the spillover impact from the coronavirus on U.S. corporations.

Remember. nothing is as it seems.

Stay alert to the political and geopolitical shifts with the world in flux. Government policies related to the environment, trade and tech sit high on the watch list.  Political and economic agendas that Influence policy-making is top of the list. For the US it is not just external threats, including increased political tensions between countries but also internal threats highlighted by the partisan impeachment devide. 

Politics influence all, directly or indirectly.  The virus and psychological affect on domestic and trade relationships have the potential to impact growth strategies with unexpected consequences with this markets are also vulnerable.  In a  fully fledged stock mania, nothing matters until it does. That is the feral nature of greed. Is Coronavirus that dreaded black swan?

Behind it all is world wide low interest rates and QE pump priming by the world's major central banks,  the Federal Reserve, Swiss National Bank and ECB all preached more of the same. This has just been ramped up a notch.

Meanwhile tje Fed is committed to about 50 Billion a day in repo, funds  into the system to maintain liquidity, in its not QE4 repo program.The consumer has been keeping the economy robust. How will they act to alleviate the panic of the market drop, this is essential given the security of the repos they have out.

The fear of missing out and blind partisan politics creates intertesting bed fellows. Be alert and put your ear plugs in and watch the whole spectrum its all related, geopolitical, debt markets, commodities, stocks, herds, greed and entitlement,

The spectre of Deutschbank overhangs Europe as does the new British PM, Boris Johnson, who was released from ICU after catching the Coronavirus himself.  Their are other spectres out their we just don't know it, or want to.

"Negative yields on long-dated government securities are more reflective of distorted market conditions than of stronger sovereign credit profiles, Fitch Ratings says. Lower interest service costs support sovereign creditworthiness, but this must be weighed against the impact of the economic conditions leading to lower yields and historically high government debt levels in a number of countries.- Fitch"

We remind you to stay on your toes, ad nauseum we repeat; In this surreal world that market prices can only go up, with bizzare acceptance that we can't go down and you are a fool if you think otherwise. In saying that the old saying, the trend is your friend rings true.

Akio Morita mistakes

The Week Ahead

This week we expect more volatility with the engulfing uncertainty of the Coronavirus and in commodity markets, particularly in oil and other commodities, not to mention unrest in Iran, Libya and Iraq.  

Geopolitical risk is on high alert with President Trump under pressure at home and abroad. There are a few American economic reports  The biggest risk alert remains valuation, the stock market’s record highs and price earnings ratio of more than 18.5 have still not been rinsed. That has obviously being adjusted after this month's crash and mass stimulus distortion.

The markets are fixated on the COVID-19 news such as the infections count update. On the data front, regional surveys will draw some attention, but most of the focus will remain on jobless claims. Job losses are expected to continue to be steep and it seems at one point that may have to tilt the risk scales.

Watch for how much the data indicates further economic destruction after the surge in initial claims already means substantially higher unemployment. This coming week we will see record US unemployment, the Department of Labor is forcast to report a 22m surge in the number of unemployed people in April. After we had the Fed and ECB last week the the Bank of England is due to announce their latest policy decision on Thursday.  No changes  expectted in the Bank's main policy settings but forecasts are for a £200bn increase in their quantitative easing programmes come the 18 June Monetary Policy Committee meeting. The BoE is expected to deliver is its first detailed assessment of what the impact of the Covid-19 pandemic has had on the UK economy.

 There is some important data in the week ahead,

  • Monday 
    Germany PMI Manufacturing, EU PMI Manufacturing, US Factory Orders
  • Tuesday
    Germany PMI Composite, PMI Services EU PMI Composite, PMI Services, Producer Price Index UK PMI Construction, PMI Services US Balance of Trade, PMI Composite, PMI Services and API Oil Inventories
  • Wednesday:
    EU Retail Sales, US Mortgage Applications, EIA Crude Oil Invemtories,
  • Thursday UK BoE Interest Rate Decision US Weekly Jobless Claims, EIA Natural Gas Storage and Consumer Credit
  • Friday US Non-Farm Payrolls, Unemployment Rate, Wholesales Inventories and Baker Hughes Oil Rig Count, CFTC Speculative net positions

For emerging markets the high US dollar means the Fragile 5 continue to shake. Argentina and Turkey are red letter risks. Voters will also be going to the polls in Poland, Indonesia, the Philippines and Thailand this year.

Over $4 trillion of EM debt matures by the end of 2020, of which around a third is denominated in foreign currency, according to the Institute of International Finance. Nevertheless Banks are telling investors to buy, buy, buy, who is selling you should ask? 

If you wanted to play in the big room at Vegas, you are living it. Understand risk and the madness of crowds for your own sanity and wealth.

Focus on yourself and what YOU CAN INFLUENCE, set your trading plan and goals in be set for 2019. One suspects it will be a year long Groundhog day for Trump, the GOP and the Democrats. We still have trade wars.

Earnings 

Last week earnings from 140 S&P 500 companies, including Amazon, Microsoft, Apple and Boeing. Big oil companies, Exxon Mobil and Chevron released results on Friday, and their comments on how they are reacting to the shocking decline in crude oil prices this past week were an eyeopener. Analysts expect overall S&P 500 profits to drop by 12.8%, according to IBES data from Refinitiv,  a far steeper decline than the 4.7% drop projected as of April 1.

Reuters Graphic

Given that is a known investors (and algos) will focus pn the conference calls and outlooks.  Everyone is expecting the worse. We will see critical updates on production in coronavirus impacted regions and if there is extended halting of operations weighing on multi-nationals.

Last week we heard from Check Point Software, Bayer, Adidas, Celanese, Canadian National Railway, Keurig Dr. Pepper, National Oilwell Varco, NXP Semiconductor, PPG Industries, Alphabet, Starbucks, Caterpillar, Merck, Pfizer, UPS, D.R.Horton, Pepsico, Sirius XM, T. Rowe Price, Corning, Southwest Air, UBS, Cummins, MSCI, Vale, Rockwell Automation, T. Rowe Price, Juniper Semiconductor, Akamai, Boyd Gaming, Cerner, FireEye, Oneok, Advanced Micro Devices, Mondelez, Boeing, Microsoft, Airbus, Facebook, Tesla, Qualcomm, Anthem, AstraZeneca, Boston Scientific, GlaxoSmithKline, General Dynamics, Mastercard, Norfolk Southern, Humana, Northrop Grumman, Sherwin-Williams, Valero, eBay, Aflac, Raymond James, General Electric, Avery Dennison, Transocean, Amazon.com, Apple, Comcast, Gilead Sciences, Twitter, McDonald’s, MGM Resorts, Beazer Homes, BioMarn Pharma, Cabot Oil and Gas, Molina Healthcare, Stryker, Whirlpool, Parker Hannifin, Marsh and McLennan, Nokia, Royal Dutch Shell, Stanley Black and Decker, Six Flags, Moody’s, Dunkin Brands, Carlyle Group, Cigna, ConocoPhillips, Kraft Heinz, Kellogg, Molson Coors Brewing, Public Storage, Exxon Mobil, Chevron, Colgate-Palmolive, Clorox, Estee Lauder, Johnson Controls, Phillips 66, Newell Brands, Weyerhaueser, Apollo Global Management, Honeywell, Newell Brands

We start off on Monday with earnings from Diamond Back Energy, Viper Energy, Parsely Energy, Tyson Foods, Skyworks Solutions  Shake Shack

Tuesday Earnings Include: Newmont mining, Regeneron Pharmaceuticals, Walt Disney, Occidental Petroleum .

Wednesday Earnings Include: CVS Health, General Motors, Waste Management, Shopify

Thursday Earnings Include: Moderna, Bristol-Myers Squibb

Friday Earnings Include: Ventas

-coment section below data-

Geopolitical Tinderbox Radar

Trade Imbalances IMF

Italy CDS
Turkey Geopolitical

Last Week's Big Stories

The Week That Was - Last Weeks Recap

Covid-19 Central

Stocks

 

Stock Markets

US Major Stock Indices

Biggest Stock Winners and Losers Last Week*

SPX W Top 5 5 1 2020

 Which Stocks Moved US ETF's Last Week

SPX W ETF Top 5 5 1 2020


 US Stock Indices Performance


 US Indices W 5 1 2020

S&P 500

The S&P 500 continued its sharp reversal after the intitial 3 wave down from the SPX wave 5 extension as Covid19 fed impulse accelerating under the tenkan. From there we have seen the ABC or 1-2-3. Support began at the October 2019 lows  A manic wave 5 or 3 of some degree resolution for the ages.  Recall all hallmarks of a mania, +5/8 Daily MM over the chikou in 5 violent waves.  Note the 100% extension from the emotive element and MM levels when the spit kicks in.

 SPX D 5 1 2020

We are seeing the violent rebalance in the SPX as the market seeks harmony. The spit per channel fractal and adams rule launched back into the cloud.  Watch Chickou rebalance  off the 3 waves post spit.  Weekly tenkan key, Kijun and tenkan kisses to be watched. Watch if a spit or clear break support as chickou rebalances

SPX W 5 1 2020
 

Semiconductors ETF - SMH

SMH W 5 1 2020
 

Apple $AAPL

( Leading underlying strength of US Indices)

AAPL W 5 1 2020
 

Amazon $AMZN


AMZN W 5 1 2020
 

CBOE VIX INDEX - A Reminder of RIsk Ahead of Time

Data via Ole S Hansen @Ole_S_Hansen

VIX caution: Not only did the net-short hit a record but so did the percentage of total open interest which reached 50%. History tells us that positions this elevated could leave the short side very vulnerable to a sudden change in direction $SPX $SVXY $XIV

Image

Speculators increased their VIX futures net-short by 17k lots to a RECORD 188k lots in the wk to Oct. 29. During the past month the #SPX rally has helped widen the contango thereby fueling short-selling strategies though futures and inverse ETFs $SVXY and $XIV.

 Image

Fixed Interest

10 Year Treasury Note

TNX W 5 1 2020
 

Energy and Commodities

US Crude Oil (WTI)

After WTI workied off the chikou with the outside trend line under $20 in 5 waves it quickly reversed in 3 this week to then collapse to negative -40 for May. For a reversal we need sustained impulse from here. VEry completitive for a major 5. Recall the initial collpase where math and crowd behavior tell the story right to the +2/8 and collapsed back to the break up and now through the channel, accelerating when Tenkan and 50 dma crossed.  Note 1.618 extension of previous emotive wave.

WTI D 5 1 2020

WTI has been a series of fractals. expected in algorithm dominated price action From the larger acceleration lower after broke the weekly uptrend, a fractal of the sharp and all the way to ATL lows to negative pricing we have seen mirror replications. From here we see need traction to work out from 5 waves. Key resistance is Kijun and 50wma confluence (green) which all failed after the violent spike up. Support channel and fib conflageration with MM 0 -8 and -2-8

WTI W 5 1 2020
 

 US Natural Gas (Henry Hub)

Natural Gas is nothing if consistent, another failed break despite the strength of spitting the previous low and -2/8 with an island reversal to test the Kijun and downtrend line but fell back to Tanken The big question is was that a completed move down there or a 3?   Support on downtrend Tenkan.

 NG D 5 1 2020

Natty got above the weekly tenkan but failed to hold it at week's end after the weekly Kijun and 50wma kissed above..  Talking fractals, remember the tenkan/kijun kiss of death.brought it down from the md $2 range  Much work to do here through channels.

NG W 5 1 2020.

  Baltic Dry Index (BDI)



 

Precious Metals

Gold

Gold exuded strength after it back tested the previous wave 3 after finally cracked the Tenkan after correcting in 3 waves from 1556 to Murrey Math +3/8. Concern is the negative divergence between the weekly chikou and the recent highs. Support is Kijun while market decides. From there does the 5 play out?  Watch Fibs and chikou.
 Gold W 5 1 2020

Silver

Earlier Silver diverged further from gold not breaking the previous iii or C as Gold did.  Silver reversed with much more violent impulse than gold after correcting the 3 or C. Given that we have to repsect this is a IV  but  here is also a chance this is an X.

 Silver W 5 1 2020

Currency Markets

Australian Dollar - AUDUSD

The Aussie dollar competed 5 waves in emotive balance with vigour spitting the 100% panic muster. Reistance with the cloud is a long way off. We watch the panic wave fibs for clues. 

AUD W 5 1 2020

 New Zealand Dollar - NZDUSD

The Kiwi mirrored the  AUD spit with a stronger bounce almost correcting all of the panic muster wave.  We are now above the Tenkan, which is pivotal.  The Chikou needs to rebalance.  

NZD W 5 1 2020
 

Canadian Dollar - USDCAD

The USDCAD after an over +261% emotive move is back to retest the break out and tenkan.  Key will be the old  61.8% and multi week highs that held for so long.

CAD W 5 1 2020 

Euro - EURUSD

Euro is a lesson in channel spits (read false breaks) it spat the cloud to collapse and back through the top of channel in classic ABC and then accelerated after held tenkan Kijun kiss of death it in 5 waves. We are now back mid channel - watch for impulse off Chikou rebalance and Kijun above.  Again governed by EURGBP and Bund volatility. 

EUR W 5 1 2020


 EuroPound - EURGBP

EURGBP back testing after its classic ABC out of failure. Tenkan will give us a clue if normalcy is returning to the channel trade.


 EURGBP W 5 1 2020

Japanese Yen - USDJPY

Classic channel trade in USDJPY, has been a series of failures and sharp bounces over the bottom channel. Any change will come from the weekly Kijun and the cloud twist. Use your Murrey 3 to 7/8 4/8 grid for now. EURJPY and AUDJPY will determine risk on/off.

JPY W 5 1 2020

 Mexican Peso USDMXN

The Peso collpased with a 261%  move after it broe the weekly bear flag. We have seen violent moves with outisde uncertainty from oil and COVID19. Use the Gann octave and the extension fibs to help measure the noise.  


 MXN W 5 1 2020


 Turkish Lire USDTRY

USDTRY impulse higher continued after weekly  Kijun and Tenkan support back above cloud  Impulse is needed to pull away from here. Support is the previous break up and tenkan and Kijun. Keep an eye on geopolitical risk factors.

 TRY W 5 1 2020

Bitcoin

Nothing new for Bitcoin, more of the same as it continues to falter after 61.8% spit. Well under the tenkan and kijun. Needs to test downtrend for higher correction. Use your MM rules as algos control the herd here, support is the cloud - we said be wary of sharp ABC, 1-2 moves.

BDI W 5 1 2020
 

The Week Ahead

Key US Economic and Central Bank Events This Week

Sunday, May 3, 2020

  • All Day Holiday China - Labor Day
  • 19:00 KRW CPI (MoM) (Apr)
  • 20:30 KRW Nikkei Manufacturing PMI (Apr)
  • 21:00 AUD MI Inflation Gauge (MoM)
  • 21:30 AUD ANZ Job Advertisements (MoM)
  • 21:30 AUD Building Approvals (MoM)
  • 21:30 AUD Private House Approvals (Mar)

Monday, May 4, 2020

  • All Day Holiday Japan - Greenery Day
  • All Day Holiday China - Labor Day
  • 03:15 EUR Spanish Manufacturing PMI (Apr)
  • 03:30 CHF procure.ch PMI (Apr)
  • 03:45 EUR Italian Manufacturing PMI (Apr)
  • 03:50 EUR French Manufacturing PMI (Apr)
  • 03:55 EUR German Manufacturing PMI (Apr)
  • 04:00 EUR Manufacturing PMI (Apr)
  • 04:30 HKD GDP (QoQ)
  • 04:30 EUR Sentix Investor Confidence (May)
  • 09:00 USD All Car Sales 1.95M
  • 09:00 USD All Truck Sales (Apr)
  • 09:00 SGD Manufacturing PMI (Apr)
  • 09:45 USD ISM NY Business Conditions (Apr)
  • 09:45 USD ISM-New York Index (Apr)
  • 10:00 USD Durables Excluding Defense (MoM) (Mar)
  • 10:00 USD Factory Orders (MoM) (Mar)
  • 11:30 USD 3-Month Bill Auction
  • 11:30 USD 6-Month Bill Auction
  • Tentative USD Loan Officer Survey
  • 17:30 AUD AIG Construction Index (Apr)
  • 18:45 NZD Building Consents (MoM) (Mar)
  • 19:00 AUD Services PMI
  • 21:00 NZD ANZ Commodity Price Index (MoM)

Tuesday, May 5 2020

  • All Day Holiday Japan - Special Holiday
  • All Day Holiday South Korea - Children's Day
  • All Day Holiday China - Labor Day
  • 00:30 AUD RBA Interest Rate Decision (May)
  • 00:30 AUD RBA Rate Statement
  • 01:00 SGD Retail Sales (MoM) (Mar)
  • 01:45 CHF SECO Consumer Climate (Q2)
  • 02:30 CHF CPI (MoM) (Apr)
  • 02:45 EUR French Government Budget Balance (Mar)
  • 03:00 EUR Spanish Unemployment Change
  • 03:00 EUR ECB's De Guindos Speaks
  • 04:00 EUR German Buba President Weidmann Speaks
  • 04:30 GBP Composite PMI (Apr)
  • 04:30 GBP Construction PMI (Apr)
  • 04:30 GBP Services PMI (Apr)
  • 04:30 HKD Retail Sales (YoY) (Mar)
  • 04:40 EUR ECB's Mersch Speaks
  • 05:00 EUR PPI (MoM) (Mar)
  • Tentative EUR EU Economic Forecasts
  • 06:30 EUR Spanish Consumer Confidence
  • 08:30 USD Trade Balance (Mar)
  • 08:30 CAD Trade Balance (Mar)
  • 08:55 USD Redbook (MoM)
  • 09:45 USD Markit Composite PMI (Apr)
  • 09:45 USD Services PMI (Apr)
  • 10:00 USD IBD/TIPP Economic Optimism
  • 10:00 USD ISM Non-Manufacturing PMI (Apr)
  • 11:20 NZD GlobalDairyTrade Price Index
  • 16:30 USD API Weekly Crude Oil Stock
  • 17:45 NZD Labor Cost Index (QoQ) (Q1)
  • 18:45 NZD Employment Change (QoQ) (Q1)
  • 18:45 NZD Unemployment Rate (Q1)
  • 20:30 HKD Manufacturing PMI (Apr)
  • 21:30 AUD RBA Chart Pack Release
  • 21:30 AUD Retail Sales (MoM) (Mar)
  • 21:45 CNY Caixin Services PMI (Apr)

Wednesday, May 6, 2020

  • All Day Holiday Japan - Constitution Day
  • 02:00 EUR German Factory Orders (MoM) (Mar)
  • 03:15 EUR Spanish Services PMI (Apr)
  • 03:45 EUR Italian Composite PMI (Apr)
  • 03:45 EUR Italian Services PMI (Apr)
  • 03:50 EUR French Markit Composite PMI (Apr)
  • 03:50 EUR French Services PMI (Apr)
  • 03:55 EUR German Composite PMI (Apr)
  • 03:55 EUR German Services PMI (Apr)
  • 04:00 EUR Markit Composite PMI (Apr)
  • 04:00 EUR Services PMI (Apr)
  • 04:30 GBP Construction PMI (Apr)
  • 05:00 EUR Retail Sales (MoM) (Mar)
  • 07:00 USD MBA 30-Year Mortgage Rate
  • 07:00 USD MBA Mortgage Applications (WoW)
  • 08:15 USD ADP Nonfarm Employment Change (Apr)
  • 10:30 USD Crude Oil Inventories
  • 17:00 KRW FX Reserves - USD (Apr)
  • 17:00 BRL Interest Rate Decision
  • 17:45 NZD Labor Cost Index (QoQ) (Q1)
  • 17:45 NZD Labor Cost Index (YoY) (Q1)
  • 18:30 AUD AIG Services Index (Apr)
  • 19:00 KRW Current Account (Mar)
  • 19:50 JPY Monetary Base (YoY)
  • 21:30 AUD Trade Balance (Mar)
  • 21:45 CNY Caixin Services PMI (Apr)
  • 23:00 NZD Inflation Expectations (QoQ)

Thursday, May 7, 2020

  • All Day Holiday Singapore - Vesak Day
  • 01:45 CHF Unemployment Rate (Apr)
  • 02:00 GBP BoE QE Total (May)
  • 02:00 GBP BoE Interest Rate Decision (May)
  • 02:00 EUR German Industrial Production (MoM) (Mar)
  • 02:45 EUR French Current Account (Mar)
  • 02:45 EUR French Industrial Production (MoM) (Mar)
  • 02:45 EUR French Non-Farm Payrolls (QoQ) (Q1
  • ) 02:45 EUR French Trade Balance (Mar)
  • 03:00 CNY FX Reserves (USD)
  • 03:30 GBP Halifax House Price Index (MoM) (Apr)
  • 04:00 EUR Italian Retail Sales (MoM) (Mar)
  • 07:00 GBP BoE Inflation Report
  • 07:00 GBP BoE MPC Meeting Minutes
  • 07:30 USD Challenger Job Cuts (Apr)
  • 08:30 USD Continuing Jobless Claims
  • 08:30 USD Initial Jobless Claims
  • 08:30 USD Jobless Claims 4-Week Avg.
  • 08:30 USD Nonfarm Productivity (QoQ) (Q1)
  • 08:30 USD Unit Labor Costs (QoQ) (Q1)
  • 10:00 CAD Ivey PMI (Apr)
  • 10:19 CNY Trade Balance (USD) (Apr)
  • 10:30 USD Natural Gas Storage
  • 11:30 USD 4-Week Bill Auction
  • 11:30 USD 8-Week Bill Auction
  • 15:00 USD Consumer Credit (Mar)
  • 16:00 USD FOMC Member Harker Speaks
  • 19:01 GBP GfK Consumer Confidence (Apr)
  • 19:30 JPY Household Spending (MoM) (Mar)
  • 21:30 AUD RBA Monetary Policy Statement Friday

Friday, May 8, 2020

  • All Day Holiday United Kingdom - Bank Holiday
  • 01:45 CHF Unemployment Rate (Apr)
  • 02:00 EUR Gemran Current Account Balance n.s.a (Mar)
  • 02:00 EUR German Trade Balance (Mar)
  • 03:00 EUR Spanish Industrial Production (YoY) (Mar)
  • 08:15 CAD Housing Starts (Apr)
  • 08:30 USD Average Hourly Earnings (MoM) (Apr)
  • 08:30 USD Average Weekly Hours (Apr)
  • 08:30 USD Manufacturing Payrolls (Apr)
  • 08:30 USD Nonfarm Payrolls (Apr)
  • 08:30 USD Participation Rate (Apr)
  • 08:30 USD Private Nonfarm Payrolls (Apr)
  • 08:30 USD U6 Unemployment Rate (Apr)
  • 08:30 USD Unemployment Rate (Apr)
  • 08:30 CAD Building Permits (MoM) (Mar)
  • 08:30 CAD Employment Change (Apr)
  • 08:30 CAD Full Employment Change (Apr)
  • 08:30 CAD Part Time Employment Change (Apr)
  • 08:30 CAD Participation Rate (Apr)
  • 08:30 CAD Unemployment Rate (Apr)
  • 10:00 USD Wholesale Inventories (MoM)
  • 10:00 USD Wholesale Trade Sales (MoM) (Mar)
  • 13:00 USD U.S. Baker Hughes Oil Rig Count
  • 15:30 USD CFTC speculative net positions

Saturday, May 2, 2020

Stock Buyback Watch

 

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Note these charts, opinons news and estimates and times are subject to change and for indication only. Trade and invest at your own risk.

Trade Smart!

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