Month: March 2019

Today’s Economic Events

09:30 UK JAN Industrial Production (MoM) exp: 0.2% prev: -0.5%
09:30 UK JAN Manufacturing Production (MoM) exp: 0.1% prev: -0.7%
09:30 UK JAN Trade Balance in Goods (M GBP) exp: -12313 prev: -12102
09:30 UK JAN Trade Balance Non EU (M GBP) exp: -3760 prev: -3642
12:30 US FEB Consumer Price Index (MoM) exp: 0.2% prev: 0%
12:30 US FEB CPI – Ex Food & Energy (MoM) exp: 0.2% prev: 0.2%

U.S. indices closed higher on Monday, boosted by shares in the Technology Hardware & Equipment (+2.87%), Semiconductors & Semiconductor Equipment (+2.36%) and Media (+1.99%) sectors. On the economic data front, retail sales rose 0.2% MoM in January (estimated to remain flat, -1.6% in December). The S&P 500 (2,783.30) breaks above its 20d moving average (2,773.03 – positive slope) and remains above its 50d moving average (2,680.24 – positive slope).

European markets are expected to start on a positive note. read more

BRENT Crude Technical Snap (Daily)

Pivot: 65.60 Our preference: long positions above 65.60 with targets at 66.40 & 67.00 in extension. Alternative scenario: below 65.60 look for further downside with 64.95 & 64.40 as targets. Comment: the RSI is mixed to bullish.

Today’s Economic Events

07:00 GE JAN Current Account (B EUR) exp: NA prev: 21
07:00 GE JAN Exports (MoM) exp: -0.5% prev: 1.5%
07:00 GE JAN Imports (MoM) exp: 0.1% prev: 0.7%
07:00 GE JAN Industrial Production (MoM) exp: 0.2% prev: -0.4%
07:00 GE JAN Trade Balance (B EUR) exp: 13.1 prev: 14.3
12:30 US JAN Retail Sales exp: 0.1% prev: -1.2%
12:30 US JAN Retail Sales less Autos exp: 0.4% prev: -1.8%
14:00 US DEC Business Inventories exp: 0.6% prev: -0.1%

U.S. indices closed lower on Friday even though the market rebounded off the lows of the day. Shares in the Energy (-1.95%), Retailing (-0.74%) and Consumer Services (-0.57%) sectors were under pressure. On the economic data front, housing starts advanced to 1.23M units in January (estimated 1.195M) from 1.037M in December while building permits rose to 1.345M (forecasted 1.287M) from 1.326M. In other news, nonfarm payrolls increased to 20K in February (expected +180K, +311K January), while the jobless rate fell to 3.8% (estimated 3.9%) from 4.0%. The S&P 500 (2,743.07) stays below its 20d moving average (2,769.26 – positive slope) but remains above its 50d moving average (2,673.93 – positive slope).

European markets are expected to start on a positive note. read more

BRENT Crude Technical Snap (Daily)

Pivot: 66.25 Our preference: short positions below 66.25 with targets at 65.30 & 65.00 in extension. Alternative scenario: above 66.25 look for further upside with 66.60 & 67.00 as targets. Comment: the RSI calls for a new downleg.

Today’s Economic Events

US FEB Average Hourly Earnings (MoM) exp: NA prev: 0.1%
US FEB Average Weekly Hours exp: NA prev: 33.7
07:45 FR JAN Trade Balance (M) exp: NA prev: -4653
13:30 US FEB Change in Manufact. Payrolls (k) exp: 13 prev: 13
13:30 US FEB Change in Nonfarm Payrolls (k) exp: 183 prev: 304
13:30 US FEB Unemployment Rate exp: 3.9% prev: 4%
13:30 US JAN Bulding Permits (k) exp: 1288 prev: 1326
13:30 US JAN Housing Starts (k) exp: 1194 prev: 1078

U.S. indices closed lower on Thursday, led by shares in the Retailing (-1.72%), Food & Staples Retailing (-1.69%) and Automobiles & Components (-1.34%) sectors. On the economic data front, initial jobless claims declined to 223K in week ended March 2 (vs 225K estimated) from 226K in the previous week and continuing claims fell to 1.755M in week ended February 23 (vs 1.772M expected) from 1.805M a week earlier. The S&P 500 (2,748.93) breaks below its 20d moving average (2,767.41 – positive slope) but remains above its 50d moving average (2,666.09 – positive slope).


European markets are expected to start on a negative note. read more

BRENT Crude Technical Snap (Daily)

Pivot: 65.55 Our preference: long positions above 65.55 with targets at 67.15 & 67.50 in extension. Alternative scenario: below 65.55 look for further downside with 65.00 & 64.60 as targets. Comment: the RSI advocates for further upside.

Today’s Economic Events

10:00 EC 4Q F Euro-Zone: GDP (QoQ) exp: 0.2% prev: 0.2%
12:45 EC ECB: Rates decision exp: 0% prev: 0%
13:30 US 4Q F Nonfarm Productivity exp: 1.5% prev: 2.2%
13:30 US 4Q F Unit Labor Costs exp: 1.7% prev: 0.9%
13:30 US W8 Initial Jobless Claims (k) exp: 224 prev: 225
20:00 US JAN Consumer Credit (B USD) exp: 17.5 prev: 16.6