BRENT
| Pivot: 66.70
Our preference: long positions above 66.70 with targets at 67.25 & 67.70 in extension. Alternative scenario: below 66.70 look for further downside with 66.25 & 66.00 as targets. Comment: the RSI is mixed with a bullish bias. |
Economic Calendar 25.02.19
Today’s Economic Events
15:00 US DEC P Wholesale Inventories exp: NA prev: 0.3%
General Market Comment 22.02.19
General Market Comment
US indices closed higher to finish the week on Friday, lifted by shares in the Software & Services (+1.34%), Technology Hardware & Equipment (+1.24%) and Semiconductors & Semiconductor Equipment (+1.22%) sectors. The S&P 500 (2,792.67) stays above its 20d moving average (2,725.47 – positive slope) and 50d moving average (2,625.05 – positive slope).
European markets are expected to start on a flat note.
Foreign Exchange
The US dollar was bearish against all of its major pairs on Friday. On the economic data front, there was no news to report.
European Commodity Close (Friday – 22/02/19)
European Commodity Close (Friday – 22/02/19)
Oil prices touched more than three-month highs on Friday, supported by rising hopes that the United States and China would soon reach a deal to end their trade war, but new record U.S. oil production limited gains. Slight gains were seen in the precious metals. In base metals gains were in Nickel primarily across the complex.
| NYMEX Crude Oil |
57.37 USD
|
+0.41
|
+0.71% | Mar 19 | 12:10PM EST |
| ICE Brent Crude |
67.24 USD
|
+0.17
|
+0.25% | Feb 19 | 7:00PM EST |
| NYMEX RBOB Gasoline |
1.61 USD
|
-0.00
|
-0.27% | Feb 19 | 12:10PM EST |
| Dubai Crude Spot |
67.32 USD
|
+0.14
|
+0.21% | Dec 02 | 12:20PM EST |
| ICE Gas Oil |
623.00 USD
|
+2.00
|
+0.32% | Mar 19 | 7:00PM EST |
| NYMEX No2 Heating Oil |
2.03 USD
|
-0.00
|
-0.21% | Feb 19 | 12:10PM EST |
| NYMEX Nat Gas |
2.69 USD
|
-0.00
|
-0.11% | Feb 19 | 12:10PM EST |
| ICE NBP Nat Gas |
44.70 GBP
|
-0.96
|
-2.15% | Feb 19 |
BRENT Crude Technical Snap (Daily)
BRENT Crude Technical Snap (Daily)
| Pivot: 66.55
Our preference: long positions above 66.55 with targets at 67.75 & 68.05 in extension. Alternative scenario: below 66.55 look for further downside with 65.95 & 65.60 as targets. Comment: the RSI is mixed to bullish. |
Economic Calendar 21.02.19
Today’s Economic Events
07:00 GE JAN F Consumer Price Index (MoM) exp: -0.8% prev: -0.8%
07:00 GE JAN F CPI – EU Harmonised (MoM) exp: -1% prev: -1%
07:45 FR FEB Business Confidence Indicator exp: 102.6 prev: 103
07:45 FR FEB Production Outlook Indicator exp: NA prev: -11
07:45 FR JAN F Consumer Price Index (MoM) exp: -0.5% prev: -0.5%
07:45 FR JAN F CPI – EU Harmonised (MoM) exp: -0.6% prev: -0.6%
08:15 FR FEB P Markit Composite PMI exp: 49.1 prev: 48.2
08:15 FR FEB P Markit Manufacturing PMI exp: 51 prev: 51.2
08:15 FR FEB P Markit Services PMI exp: 48.8 prev: 47.8
09:00 EU FEB P Markit Composite PMI exp: 51.1 prev: 51
09:00 EU FEB P Markit Manufacturing exp: 50.4 prev: 50.5
09:00 EU FEB P Markit Services PMI exp: 51.3 prev: 51.2
09:30 UK JAN Public Finances (PSNCR) (B GBP) exp: NA prev: 21.3
09:30 UK JAN Public Sector Net Borrowing (B GBP) exp: -10.7 prev: 2.1
13:30 US DEC P Durable Goods Ex Transportation exp: 0.3% prev: -0.4%
13:30 US DEC P Durable Goods Orders exp: 2% prev: 0.7%
13:30 US FEB Philadelphia Fed. exp: 14.9 prev: 17
13:30 US W6 Initial Jobless Claims (k) exp: 227 prev: 239
14:45 US FEB P Markit Composite PMI exp: NA prev: 54.4
14:45 US FEB P Markit Manufacturing PMI exp: 54.8 prev: 54.9
14:45 US FEB P Markit Services PMI exp: 54.2 prev: 54.2
15:00 US JAN Existing Home Sales (M) exp: 5 prev: 5
15:00 US JAN Leading Indicators exp: 0.1% prev: -0.1%
16:00 US W6 Crude Oil Inventories (WoW chg) exp: 2220 prev: 3633
General Market Comment 20.02.19
General Market Comment
US indices closed higher on Wednesday, boosted by shares in the Materials (+1.69%), Automobiles & Components (+0.96%) and Consumer Services (+0.89%) sectors. On the economic data front, MBA mortgage applications improved by 3.6% in week ended February 15th from a decline of 6.9% in the prior week. The Fed released the minutes of their Jan 29th-30th meeting which shows that policy makers saw few risks in keeping the federal funds rate target unchanged “for a time”. The Fed officials believe that further rate hikes might be necessary if inflation were to accelerate. The S&P 500 (2,784.70) stays above its 20d moving average (2,711.14 – positive slope) and 50d moving average (2,619.11 – positive slope).
BRENT Technical Snap (Daily)
BRENT Technical Snap (Daily)
| Pivot: 65.85
Our preference: long positions above 65.85 with targets at 66.85 & 67.45 in extension. Alternative scenario: below 65.85 look for further downside with 65.60 & 65.10 as targets. Comment: the RSI is mixed to bullish. |
Economic Calendar 20.02.19
Today’s Economic Events
07:00 GE JAN Producer Price Index (MoM) exp: -0.2% prev: -0.4%
15:00 EC FEB A Euro-Zone: Consumer Confidence exp: -7.7 prev: -7.9
19:00 US JAN 30 Minutes FOMC Meeting exp: prev:
General Market Comment 19.02.19
General Market Comment
US indices closed higher on Tuesday, led by shares in the Automobiles & Components (+1.44%), Food & Staples Retailing (+1.27%) and Household & Personal Products (+1.07%) sectors. On the economic data front, the NAHB housing market index improved to 62 in February (expected 59) from 58 in January. The S&P 500 (2,779.76) stays above its 20d moving average (2,703.55 – positive slope) and 50d moving average (2,617.34 – positive slope). European markets are expected to start on a flat note.