All times now GMT NOT BST.
Monday Oct 1st:
GE - 07:55 - Manufacturing PMI .
EU - 08:00 - Manufacturing PMI .
UK - 08:30 - Manufacturing PMI .
UK - 08:30 - Mortgage Approvals .
UK - 08:30 - Housing Equity Withdrawal q/q .
UK - 08:30 - Net Lending to Individuals M/M .
US - 14:00 - ISM Manufacturing Index .
US - 14:00 - ISM Manufacturing Index .
Tuesday Oct 2nd:
UK - 08:30 - Construction PMI .
EU - 09:00 - PPI m/m
EU - 09:00 - Unemployment Rate .
US - 14:00 - Pending Home Sales M/M .
US - 18:00 - Domestic Vehicle Sales .
UK - 21:01 - Consumer Confidence Index .
Wednesday Oct 3rd:
GE - 07:55 - Services PMI.
EU - 08:00 - Services PMI (r) .
UK - 08:30 - Services PMI .
EU - 09:00 - Retail Sales M/M.
UK - 09:30 - BRC Shop Price Index y/y .
US - 12:15 - ADP Nonfarm Employment Change .
US - 14:00 - ISM Non-Manufacturing Index.
US - 14:00 - ISM Non-Manufacturing Prices .
US - 14:30 - Crude Oil Inventories .
Thursday Oct 4th:
UK - 11:00 - Interest Rate Statement .
EU - 11:45 - Interest Rate Announcement .
US - 12:30 - Unemployment Claims .
EU - 12:30 - ECB President Trichet Speaks .
US - 14:00 - Factory Orders M/M.
Friday Oct 5th:
EU - 10:00 - Composite Leading Indicators M/M.
US - 12:30 - Nonfarm Employment Change.
US - 12:30 - Unemployment Rate.
US - 12:30 - Average Hourly Earnings M/M.
US - 19:00 - Consumer Credit M/M.
EU - Europe wide
FR - France
UK - United Kingdom
US - United States
GE - Germany
A new low for the US dollar, and a mixed bag of economic news, gave investors few clues as to what the FOMC might do next with the interest rate.
Concerns that the housing market ills could spill over into the broader economy have heightened fears of recession. More hints about the economy will be revealed in the next few weeks, as 3 rd quarter earning results are going to start making their way to the market.
While most traders were still enjoying the more then expected rate cut, others are thinking that it's not enough and are expecting another cut after the next FOMC meeting.
Next week, aside from the 3 rd quarter earnings, we get the GDP, and the consumer spending data. Both are market movers, especially if the data is weaker then expected.
Other data to be released next week includes inflation and construction spending.
While not as big as the other two, inflation hurts the consumers spending, as it robs their purchasing power, and construction spending is a leading indicator of company's optimism. Companies tend to spend money on construction when they see a bright future economically.
With all the data coming out next week, it almost assures a week of volatility, with that in mind, I would like to talk about this weeks play.
When volatility spikes, no touch plays become less expensive, however that's because they are more likely to be hit. As a result, this week, we will focus on the up or down options.
An up or down option allows the trader to specify a trigger on both sides of the market, and win if either of those levels are breached. Unlike its one touch counterpart, in this situation you don't need to choose a direction.
This weeks play is on the SP500, with a 44 point trigger in both directions, and a 20 day term, potentially yielding 7% ROI
Arthur Smelyansky
