Just a reminder: Fair Value for Dow jones is -33.56 and so dow will open higher by 33.56 point plus futures values, S&P500 fair value is -3.71 and so S&P500 will open high by 3.71 plus futures values.
US is now 28 billion away from hitting the debt ceiling limit of 16.395 trillion and its expected to hit by Friday. Congress session ends on December 14th, so if there is no deal in next 3 day, US treasury will have to use "Extraordinary Measure" to keep US running. This extraordinary measure can help US run till Feb 1st that as per US treasury department. But officially, US will also run out of their credit limit like credit card. When anyone max out their credit card what happen ? Credit score drops. Same way except US downgrade in January, 2013.
US is now 28 billion away from hitting the debt ceiling limit of 16.395 trillion and its expected to hit by Friday. Congress session ends on December 14th, so if there is no deal in next 3 day, US treasury will have to use "Extraordinary Measure" to keep US running. This extraordinary measure can help US run till Feb 1st that as per US treasury department. But officially, US will also run out of their credit limit like credit card. When anyone max out their credit card what happen ? Credit score drops. Same way except US downgrade in January, 2013.
On the other hand, there is lot of hope from Fed Fomc meeting that it will save US from fiscal cliff whereas Ben Bernanke has made it clear, Fed won't be able do anything. Watchout 12.30 movement in DUST, NUGT, GLD, AGQ, SLV, its going to be very volatile day.
Market is expected to open lower tomorrow, with some recovery ahead of fomc meeting and then sell off /rally on the outcome. Overall, it will be bearish day. 13265 on Dow Jones and 1433 on S&P500 divides bull and bear.
 |
| Dow jones expected to open lower tomorrow. |
Economic Calendar:
| Date | Time | Currency | Importance | Event | Actual | Forecast | Previous | |||||||
| Dec. 12 | 00:30 | INR |  | Indian Industrial Production (YoY) | 4.5% | -0.4% | | |||||||
| 02:00 | EUR | | German CPI (MoM) | -0.1% | -0.1% | | ||||||||
| 02:00 | EUR | | German CPI (YoY) | 1.9% | 1.9% | | ||||||||
| 02:45 | EUR | | French CPI (MoM) | 0.0% | 0.1% | | ||||||||
| 03:00 | ZAR | | South African CPI (MoM) | 0.20% | 0.60% | | ||||||||
| 05:00 | EUR | | Industrial Production (MoM) | 0.2% | -2.5% | | ||||||||
| 08:30 | USD | | Import Price Index (MoM) | -0.5% | 0.5% | | ||||||||
| 09:00 | MXN | | Mexican Industrial Production (YoY) | 3.6% | 2.4% | | ||||||||
| 12:30 | USD | | Interest Rate Decision | 0.25% | 0.25% | | ||||||||
| 12:30 | USD | | FOMC Statement | | ||||||||||
| 13:00 | USD | | 10-Year Note Auction | 1.675% | | |||||||||
| 14:00 | USD | | Federal Budget Balance | -150.0B | -120.0B | | ||||||||
| 14:15 | USD | | Fed Chairman Bernanke Speaks | | ||||||||||
| 20:00 | KRW | | South Korean Interest Rate Decision | 2.75% | 2.75% | |
No comments:
Post a Comment