UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Wednesday, October 31, 2012
Euro Area Unemployment Rate Rises to 11.6%
So far, the ECB's LTRO 1 & 2 programs have not resolved the unemployment problem in the Euro Area...for that matter, neither have the actions of the EU, to date.
In the meantime, the STOX50 remains range-bound within a zone of major resistance below the 2011 highs, as shown on the Daily chart below. Price is swirling around the 50 sma, but declining RSI, MACD, and Stochastics Indicators are indicating weakness within this zone.
In the absence of encouraging and co-ordinated political, economic, fiscal, and financial actions/reform by EU countries, I expect this Index to decline and, potentially, test the uptrend line, which currently sits at 2350.