API Weekly Crude Oil Stock

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Possible Effect: Bearish for Crude Oil

The American Petroleum Institute reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage.The indicator gives an overview of US petroleum demand.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

Source: Forex Economic Calendar

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Ivey PMI

Forex Calendar

Possible Effect: Bullish on CAD

The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. A reading above 50 indicates expansion; a reading below 50 indicates contraction. The index is a joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

Source: Forex Economic Calendar

ADP Nonfarm Employment Change

Forex Calendar

Possible Effect: Bullish for USD

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.

Source: Forex Economic Calendar

North Korea’s Submarine-Launched Ballistic Missile Program Advances: Second Missile Test Stand Barge Almost Operational

A 38 North exclusive with analysis by Joseph S. Bermudez Jr.

Commercial satellite imagery from November 11, 16 and 24 show that North Korea’s second submersible ballistic missile test stand barge—a platform that allows for underwater missile launches outside of submarines—located at the Nampo Navy Shipyard is being prepared to enter service, a strong indicator that Pyongyang is advancing its submarine-launched ballistic missile (SLBM) program.

Fig1_Nampo-Upd-17-1201-768x576

From 38north.org