Weekly Economic Calendar, from Action Economics, Busienssweek
July unemployment rate has showed some good positive sign, by dipped to 9.4% from 9.5% last period. Like what i say previously, the traders will be eager to bet along the upside of employment result. Friday was a testament of how bullish the market right now. Dow Jones was trading up 113.81 points and closing at 9370. Technically, the market has broken the previous downtrend and moving upward. The strong resistance for Dow Jones now will be at 9600!
This week, US Fed will have their regular meeting and Wall Street will be closely looking at Fed’s policy statement , due to release at 2.15pm ET, Wednesday. As an investor, we would like to understand the Fed policy. It would be interesting to see how the Fed going to deal with over-flowing liquidity in the market right now.
US July Retail Sales is another interesting figure (Release at 8.30am ET, Thursday). Last month, retail figure has shown good increment growth in foods, electronics, motor vehicles and sporting goods but the dining place, clothing and furniture result are still dismay. Anyway, I think this is pretty normal. If your career are at risk and you don’t know what’s going to happen tomorrow, then, probably, the best solution is to spend as few as you could and building up the buffer. This is exactly what happens now at US; the same things that happen in South-East Asia during the late 90’s recession.
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