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U.S. Economic Calendar Event Update - Jan 11

Friday, January 11, 2013 8:48 AM

These are the U.S. economic calendar events for Friday, January 11, 2013. All times are EST.

Trade Balance for Nov are scheduled to be released at 8:30 AM. Analysts are estimating a result of $-41.8B. The prior period for Trade Balance had a result of $-42.2B. This event has a low effect on US markets.

Export Prices ex-ag. for Dec are scheduled to be released at 8:30 AM. The prior period for Export Prices ex-ag. had a result of -0.7%. This event has a low effect on US markets.

Import Prices ex-oil for Dec are scheduled to be released at 8:30 AM. The prior period for Import Prices ex-oil had a result of -0.2%. This event has a low effect on US markets.

Treasury Budget for Dec are scheduled to be released at 2:00 PM. Analysts are estimating a result of $-1B. The prior period for Treasury Budget had a result of $-86B. This event has a low effect on US markets.

At the release of important events, US equity markets (INDEXSP:.INX) can make major moves. Be sure to keep an eye on S&P (NYSEARCA:SPY), Nasdaq (NYSEARCA:QQQ) and Dow Jones (NYSEARCA:DIA) at the time of announcements.

Here is some more information about the events discussion in this article.

Trade Balance: A country's trade balance reflects the difference between exports and imports of goods and services. The trade balance is one of the biggest components of the Balance of Payment, giving valuable insight into pressures on country's currency.

Export Prices ex-ag.: Excluding aggriculture, this tracks price changes of U.S. export goods. The figure is used to determine whether a change in the headline Export figure is representative of an increase of goods sold to foreign nations or just an increase in the price of export goods. United States exports account for approximately a tenth of the nation's GDP. The headline figure is the percentage change in the index from either the previous month or year.

Import Prices ex-oil: Excluding oil, this tracks changes in the prices paid for goods imported to the United States . The figure is significant in relation to the trade balance, the difference between the total value of exports and the total value of imports. A positive trade balance (surplus) acts as an appreciating weight on the dollar, reflecting demand for dollars in exchange for exports. Conversely, a negative value (deficit) puts downward pressure on the dollar's value. Given such impacts, traders assess changes in import prices to gain insight on the trade balance. The Import Price Index becomes useful in determining whether a change in import volume has actually sprung from a higher foreign demand or from a real increase in prices for foreign goods. The US is a net importer nation, where imports a significant part of the nation's GDP. Accordingly, a major price swing in foreign goods can have significant impact on the US inflation.

Treasury Budget: The monthly Treasury budget data follow strong seasonal patterns which produce huge month-to-month fluctuations in the deficit. These fluctuations tell us little about long term budget trends. To the extent that the market analyses the monthly Treasury data, the focus is on year/year changes in receipts and outlays, since the data are not seasonally adjusted. Only in April, the most important month for tax inflows to the Treasury, does the market pay any attention to this report. The data can be predicted with reasonable accuracy by using daily data in the Daily Treasury Statement.

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