Month: April 2019

Today’s Economic Events

No major economic report scheduled.

U.S. indices closed mixed on Monday. Shares in the Utilities (-0.73%), Capital Goods (-0.66%) and Real Estate (-0.51%) sectors were under pressure while shares in the Technology Hardware & Equipment (+1.17%), Household & Personal Products (+0.76%) and Automobiles & Components (+0.68%) sectors ended in the green zone. On the economic data front, factory orders declined 0.5% MoM in February, in-line with estimates. Also, final readings of February durable goods orders was confirmed at -1.6% MoM (as expected and previously estimated). The S&P 500 (2,895.77) stays above both its 20d moving average (2,836.32 – positive slope) and 50d moving average (2,783.42 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 70.00 Our preference: long positions above 70.00 with targets at 71.30 & 71.95 in extension. Alternative scenario: below 70.00 look for further downside with 69.50 & 69.05 as targets. Comment: the break above the resistance at 70.00 triggered an upward acceleration to 71.30.

Today’s Economic Events

07:00 GE FEB Current Account (B EUR) exp: NA prev: 18.3
07:00 GE FEB Exports (MoM) exp: -0.3% prev: 0.1%
07:00 GE FEB Imports (MoM) exp: NA prev: 1.4%
07:00 GE FEB Trade Balance (B EUR) exp: 16.5 prev: 14.6
15:00 US FEB F Durable Goods Ex Transportation exp: NA prev: 0.1%
15:00 US FEB F Durable Goods Orders exp: NA prev: -1.6%
15:00 US FEB Factory Orders exp: -0.6% prev: 0.1%

U.S. indices closed higher to finish the week on Friday, boosted by shares in the Energy (+1.69%), Utilities (+1%) and Real Estate (+0.76%) sectors. On the economic data front, nonfarm payrolls increased 196K in March (estimated +177K, +33K in February), while the unemployment rate remained unchanged at 3.8%. The S&P 500 (2,892.74) stays above both its 20d moving average (2,830.70 – positive slope) and 50d moving average (2,778.80 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 68.90 Our preference: long positions above 68.90 with targets at 69.60 & 70.00 in extension. Alternative scenario: below 68.90 look for further downside with 68.60 & 68.20 as targets. Comment: the RSI is mixed to bullish.

Today’s Economic Events

US MAR Average Hourly Earnings (MoM) exp: NA prev: 0.3%
US MAR Average Weekly Hours exp: NA prev: 33.6
07:00 GE FEB Industrial Production (MoM) exp: 0.4% prev: -0.8%
07:45 FR FEB Trade Balance (M) exp: -4582 prev: -4195
13:30 US MAR Change in Manufact. Payrolls (k) exp: 11 prev: 4
13:30 US MAR Change in Nonfarm Payrolls (k) exp: 186 prev: 20
13:30 US MAR Unemployment Rate exp: 3.8% prev: 3.8%
20:00 US FEB Consumer Credit (B USD) exp: 16.9 prev: 17

US indices closed mixed on Thursday. Shares in the Software & Services (-0.79%), Commercial & Professional Services (-0.71%) and Pharmaceuticals, Biotechnology & Life Sciences (-0.58%) sectors lost traction while shares in the Consumer Durables & Apparel (+1.62%), Automobiles & Components (+1.35%) and Materials (+1.01%) sectors gained momentum. On the economic data front, initial jobless claims declined to 202k in week ended March 30th (estimated 215k) from 212k in the previous week while continuing claims reached 1.717M in week ended March 23rd (forecasted 1.752M) compared to 1.755M in the prior week. In other news, the Bloomberg consumer comfort index declined to 58.9 in week ended March 31st vs. 60 a week earlier. The S&P 500 (2,879.39) stays above both its 20d moving average (2,823.22 – positive slope) and 50d moving average (2,773.79 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 69.60 Our preference: short positions below 69.60 with targets at 68.80 & 68.20 in extension. Alternative scenario: above 69.60 look for further upside with 69.95 & 70.30 as targets. Comment: the RSI has just struck against its neutrality area at 50% and is reversing down.

Today’s Economic Events

13:30 US W12 Initial Jobless Claims (k) exp: 216 prev: 211