Fed Chairman has been giving hope to the market that he is ready to act if economy worsen. This economy has got stagnant and not moving in the direction it should, but does the stock market cares. The answer is NO. Robo computer picks up headline and look for keyword such as easing, QE, LTRO, Bond buying and so on. So if Fed reiterate he is ready to act and talk about easing, it will be same BS rally, no matter his speech is repeated 8 month in a row and as boring as it sounded first time. So get ready for a volatile day and the main event begins at 12.30 pm EST followed by Fed speech at 2.15 pm EST.
Based on the chart, Dow was supposed to open low, but the fair value for Dow jones is -33, which means Dow jones will open higher by 33 point plus the future value.
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| Dow jones now expected to open higher because of the fair value of -33 Dow jones closed in bearish zone. |
For bearish sentiment to continue, Dow needs to break 13,317 and S&P500 needs to break 1434
Economy calendar
| Session | Time | Currency | Event | Impact | Actual | Forecast | Prev. | |||
|---|---|---|---|---|---|---|---|---|---|---|
| 0:15 | CHF | Producer & Import prices | med | -0.1 | -0.3 | |||||
| 0:15 | CHF | Producer & Import prices | med | -0.7 | -1.8 | |||||
| 0:30 | CHF | SNB - Libor Rate | high | 0 | 0 | |||||
| 0:30 | CHF | SNB monetary policy assessment | high | |||||||
| 0:30 | CHF | Minimum EUR/CHF exchange rate | low | 1.2 | ||||||
| 1:00 | EUR | ECB publishes monthly bulletin | low | |||||||
| 2:00 | EUR | Labour cost index | low | 1.6 | 2 | |||||
| 5:30 | EUR | German Deputy President of Bundesbank Lautenschlaeger to attend panel discussion at International Conference on Banking Supervision | low | |||||||
| 5:30 | CAD | House Price Index | low | 0.1 | 0.2 | |||||
| 5:30 | USD | Initial Claims | med | 370 | 365 | |||||
| 5:30 | USD | PPI (ex Food & Energy) | med | 0.2 | 0.4 | |||||
| 5:30 | CAD | Capacity Utilisation | low | 81.1 | 80.7 | |||||
| 5:30 | USD | PPI | high | 1.2 | 0.3 | |||||
| 6:30 | World Bank releases global financial report on role of state | low | ||||||||
| 7:30 | IMF holds scheduled news briefing | med | ||||||||
| 9:30 | USD | FOMC - Fed Funds Rate | high | 0.25 | 0.25 | |||||
| 11:00 | USD | Budget | med | -160 | -69.6 | |||||
| 11:15 | USD | Federal Reserve Chairman Bernanke to give press conference following FOMC Announcement | high | |||||||
| 15:45 | NZD | Food Price | med | 0.2 | ||||||
| 17:00 | USD | Under Secretary for Domestic Finance Miller speaks at American banker conference | low | |||||||
| 17:00 | EUR | ECOFIN Meeting | med | |||||||
| 17:00 | EUR | Euro-Area FinMins and Central Bankers meet (to 15 Sep) | med | |||||||
| 21:30 | JPY | Capacity Utilisation | low | -2.3 | ||||||
| 21:30 | JPY | Industrial production (Final) | med | -1.2 | ||||||
| 21:30 | JPY | Industrial Production (Final) | low | -1 | ||||||
All earnings releases
| Company Name | Time | Transcript | Wall St EPS Est($) | Actual EPS($) |
|---|---|---|---|---|
| ANALOGIC CORP ALOG | After Market Close | N/A | 0.69 | N/A |
| CHINA FIN ONLIN JRJC | After Market Close | N/A | N/A | N/A |
| CHINA GREEN AGR CGA | Before Open | N/A | N/A | N/A |
| COUNTERPATH CP CPAH | Before Open | N/A | -0.01 | N/A |
| GENTIUM SPA-ADR GENT | Before Open | N/A | -0.04 | N/A |
| K12 INC LRN | Before Open | N/A | -0.04 | N/A |
| LAKELAND INDS LAKE | After Market Close | N/A | 0.08 | N/A |
| LONGWEI PETROLM LPH | After Market Close | N/A | N/A | N/A |
| PIER 1 IMPORTS PIR | Before Open | N/A | 0.19 | N/A |
| SED INTL HLDGS SED | After Market Close | N/A | N/A | N/A |
