(JJB.L) JJB Sports PLC Buy/Sell

Good morning all,

A crisp, sunny, autumnal morning in the capital. As crisp as the notes from a 20% immediate gain on our open offer!

We have a busy day in the diary today so I will highlight those events which should have a more direct bearing on our investments. If you wish to see the full diary, please click on the link at the bottom of the page.

Up first at 09:30 is Purchasing Manager Index Services (Oct).
The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction. Consensus views are 55.5 so anything above that will be taken positively.

10:00 brings us The Producer Price Index (EU) MoM and YoY.
The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). A high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

This is followed at 10:30 by The BRC Shop Price Index (Oct) MoM.
The British Retail Consortium (BRC) Shop Price Index measures price changes in the popular retail outlets in the UK. The changes in the SPI are widely followed as an indicator for inflationary pressures. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

At 13:15 we look Stateside for ADP Employment Change data.
The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people in the US Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

And this evening at 19:15 we have the theoretical biggie. The U.S. Federal Reserve will announce its interest rate decision. The consensus view is that this will remain unchanged at .25% -I agree! As such I feel this will not be as significant today as it could be, or indeed, has been.

http://www.fxstreet.com/fundamental/economic-calendar/

Whatever your trades today, trade well.

Regards,

per ardua ad astra