5 Things you Need to Know Before Trading

*Stocks were again mixed in Asian trade. The Nikkei lost 0.7% and the Hang Seng was down a small fraction, but Shanghai gained one and a quarter percent and Australia was up a slight fraction. European indexes are also mixed, but little changed on the session; with the Dax up about a half percent and the Footsie essentially unchanged. US stock futures are fractionally higher on the day.

*For the third time in a month China has raised reserve requirements for its banks; the fifty basis point increase is set to take effect on December 20 and it increases the required reserve ratio to 19% for the country’s largest banks.

*The November reading of China’s Trade Balance surplus was down more than $4 billion from the month before to $22.9 billion. There was a sizeable increase in both Exports and Imports, with Imports outgaining Exports on a year over year basis.

*The November reading of Japanese Consumer Confidence was down a half a point to 40.6, the fifth monthly decline in a row.

*The November reading of Germany’s Wholesale Price Index is +0.7% on a month on month basis, well above the -0.3% result from October.

*The November reading of the UK Producer Price Index showed prices up 0.3% at the factory gate, only half the rise seen in October and matching the forecast.

*The October reading of the US Trade Balance is due out at 7:30am CST, it is expected to be a deficit of $43.8 billion. Also due out at 7:30am is the November reading of the Import Price Index, which is forecast to rise 0.8% on a month on month basis. The preliminary December reading of consumer sentiment from the University of Michigan is due out at 8:55am CST, it is expected to be 72.5, up from the final November result of 71.6. The Treasury will release the November reading of their Monthly Budget Statement at 1:00pm CST, a deficit of $137.5 billion is the estimate.

*Former Fed boss Paul Volcker will speak about the history of the Fed at 8:00am CST at the American Enterprise Institute.

*The Fed is scheduled to release the calendar for their next round of QE2 Treasury purchases at 1:00pm CST.

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