Month: May 2019

Today’s Economic Events

07:00 GE APR F Consumer Price Index (MoM) exp: 1% prev: 1%
07:00 GE APR F CPI – EU Harmonised (MoM) exp: 1% prev: 1%
07:00 GE APR Wholesale Price Index (MoM) exp: NA prev: 0.3%
09:30 UK MAR Unemployment Rate (ILO) exp: 3.9% prev: 3.9%
10:00 EC MAR Euro-Zone: Industrial Production (MoM) exp: -0.3% prev: -0.2%
10:00 GE MAY Zew Survey (Current Situation) exp: 6.2 prev: 5.5
10:00 GE MAY Zew Survey (Econ. Sentiment) exp: 4.1 prev: 3.1

U.S. indices closed lower on Monday as China is planning to raise tariffs on some U.S. goods starting June 1st, according to Bloomberg. Shares in the Technology Hardware & Equipment (-5.17%), Semiconductors & Semiconductor Equipment (-4.25%) and Automobiles & Components (-3.73%) sectors were under pressure. The S&P 500 (2,811.87) stays below its 20d moving average (2,909.44 – flat slope) and breaks below 50d moving average (2,862.13 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 70.30 Our preference: long positions above 70.30 with targets at 71.30 & 71.80 in extension. Alternative scenario: below 70.30 look for further downside with 70.10 & 69.65 as targets. Comment: the RSI calls for a rebound.

Today’s Economic Events

No major economic report expected

U.S. indices closed mixed to finish the week on Friday. Shares in the Technology Hardware & Equipment (-1.02%), Pharmaceuticals, Biotechnology & Life Sciences (-0.18%) and Retailing (-0.08%) sectors closed lower while shares in the Utilities (+1.74%), Food & Staples Retailing (+1.56%) and Insurance (+1.35%) sectors ended positively. On the economic data front, CPI rose 2.0% YoY in April (estimated +2.1%, +1.9% in March) and core CPI grew 2.1% (as expected, +2.0% in March). In other news, monthly budget posted $160.3B in April (expected $160.5B). The S&P 500 (2,881.40) stays below its 20d moving average (2,914.21 – flat slope) but remains above 50d moving average (2,861.97 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 71.20 Our preference: short positions below 71.20 with targets at 69.95 & 69.40 in extension. Alternative scenario: above 71.20 look for further upside with 71.80 & 72.30 as targets. Comment: as long as 71.20 is resistance, look for choppy price action with a bearish bias.

Today’s Economic Events

07:00 GE MAR Current Account (B EUR) exp: 24.3 prev: 16.3
07:00 GE MAR Exports (MoM) exp: -0.3% prev: -1.2%
07:00 GE MAR Imports (MoM) exp: 0.3% prev: -1.6%
07:00 GE MAR Trade Balance (B EUR) exp: 19.8 prev: 18
07:45 FR 1Q P Wages (QoQ) exp: 0.4% prev: 0.2%
09:30 UK 1Q P GDP (QoQ) exp: 0.5% prev: 0.2%
09:30 UK MAR Industrial Production (MoM) exp: 0.1% prev: 0.6%
09:30 UK MAR Manufacturing Production (MoM) exp: 0% prev: 0.9%
09:30 UK MAR Trade Balance in Goods (M GBP) exp: -13882 prev: -14112
09:30 UK MAR Trade Balance Non EU (M GBP) exp: -5526 prev: -5841
13:30 US APR Consumer Price Index (MoM) exp: 0.4% prev: 0.4%
13:30 US APR CPI – Ex Food & Energy (MoM) exp: 0.2% prev: 0.1%
19:00 US APR Monthly Budget Satement (B USD) exp: 169 prev: -147 read more

U.S. indices closed lower on Thursday, pressured by shares in the Semiconductors & Semiconductor Equipment (-1.84%), Automobiles & Components (-1.64%) and Technology Hardware & Equipment (-0.97%) sectors. On the economic data front, the U.S. trade deficit amounted to $50.0B in March (estimated $50.1B). Also, PPI rose 2.2% YoY in April (vs +2.3% expected, +2.2% in March) and wholesale inventories fell 0.1% MoM in March (expected to remain flat). In other news, initial jobless claims slightly dropped to 228K in week ended May 4 (estimated 220kK) from 230K in the prior week while continuing claims rose to 1.684M in week ended April 27th (forecasted 1.67M) from 1.671M a week earlier. The S&P 500 (2,870.72) stays below its 20d moving average (2,914.56 – flat slope) but remains above 50d moving average (2,860.03 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 69.55 Our preference: long positions above 69.55 with targets at 70.10 & 70.70 in extension. Alternative scenario: below 69.55 look for further downside with 69.15 & 68.80 as targets. Comment: the RSI is mixed and calls for caution.

Today’s Economic Events

13:30 US APR PPI – Ex Food & Energy (MoM) exp: 0.2% prev: 0.3%
13:30 US APR Producer Price Index (MoM) exp: 0.3% prev: 0.6%
13:30 US MAR Trade Balance (B USD) exp: -50.8 prev: -49.4
13:30 US W17 Initial Jobless Claims (k) exp: 220 prev: 230
15:00 US MAR F Wholesale Inventories exp: 0.1% prev: 0%