3 Things to Consider While Trading Today

Tomahawk, WI 3/15/2012 (StreetBeat) –Stocks were mixed in Asian trade. The Nikkei gained about three quarters of a percent and the Hang Seng rose a slight fraction, but Australia fell a slight fraction and Shanghai was down three quarters of a percent. European indexes are little changed this morning with the Dax up a quarter percent and the Footsie essentially unchanged. US stock futures are up a slight fraction as I write.

*The ECB, in its Monthly Bulletin, says they see signs of stabilization in the euro zone economy, but that “upside risks prevailing” on inflation. They also note that the 3-Year LTRO may have avoided disorderly asset sales.

*Former ECB official Bini Smaghi, in an FT opinion piece, says Ireland may need an additional EU80 billion and Portugal may need EU100 billion.

*The Swiss National Bank left rates steady at zero and maintained their ceiling of 1.20 for the Swiss Franc versus the euro, while saying the Franc remains “high” at the current level and reiterating that they are ready to buy currencies in unlimited quantities to prevent a strengthening of their currency.

*Three bits of data are due out at 7:30am CST, including: The March reading of the Empire State Manufacturing Index which is expected to be 17.50 or down two points from the month before; The Producer Price Index which is forecast to be +0.5% on the month and the estimate for the Core PPI is +0.2% on the month; and the weekly report on Initial Jobless Claims, which is expected to be 357k. The Treasury is set to announce at 8:00am CST the net change in January for the foreign holdings of US long-term securities, the TIC data, it is expected to show a position increase of $38.5 billion. The March reading of the Philly Fed Business Activity Index, forecast to be up two points on the month to a reading of 12.

*The weekly report on inventories of Natural Gas is due out at 9:30am CST, it is expected to show a decrease of 59 bcf.

*The Fed is scheduled to buy Treasuries today that are due to mature between 3/31/18 and 2/15/20; the results of the operation will be announced just after 10:00am CST.

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