By TraderVox.com
Tradervox.com (Dublin) – There are several reports to be released today, that will affect the market. The highlights of these reports are the US ADP Non-Farm Employment Change, Australian trade balance and the UK Services Purchasing Managers’ Index.
In the US, the first report will be the ADP Non Farm Employment Change. The market is expecting a reduction in the number of Americans employed in the private sector, excluding the farming industry, to reduce to 146,000 from the previous months reading of 201,000. The other report which will be released later in the US is the Institute of Supply Management Non-Manufacturing Purchasing Managers’ Index. ISM makes a monthly survey on the level of business conditions in the US, including the new orders, employment, inventories and supplier deliveries. This is an important report, and a reading below fifty indicates contraction. The market is expecting a drop from the 53.7 registered in September to, 53.4. The final major report today from US will be the Crude Oil Inventories report. This is a weekly indicator estimating the number of barrels held in inventory in the US. The market expects no change on this report.
The Euro Zone has two major reports today –the Retail sales and he Final Services PMI. Retail sales in Europe are expected to rise by 0.2 percent from the September level. The Final Purchasing Managers’ Index which rate the business conditions that include the prices, production, inventories and supplier deliveries, is expected to remain unchanged at 46 points. This is indicative of a contraction in the retail sector. A reading above fifty shows expansion.
Still in Europe, the UK will have three major reports to keep an eye on. The Services PMI, which is expected to drop to 53.1 from 53.7 the previous month. The Halifax House Price Index report, which will record an increase of 0.2 percent according to the market, and finally the Housing Equity Withdrawal report, which shows the number of home loans that are not used for buying homes or home improvements. The report is expected to show a rise to 0.2B.
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