Month: August 2019

Today’s Economic Events

07:00 GE JUL F Consumer Price Index (MoM) exp: 0.5% prev: 0.5%
07:00 GE JUL F CPI – EU Harmonised (MoM) exp: 0.4% prev: 0.4%
07:00 GE JUL Wholesale Price Index (MoM) exp: NA prev: -0.5%
09:30 UK JUN Unemployment Rate (ILO) exp: 3.8% prev: 3.8%
10:00 GE AUG Zew Survey (Current Situation) exp: -7.6 prev: -1.1
10:00 GE AUG Zew Survey (Econ. Sentiment) exp: -29.6 prev: -24.5
13:30 US JUL Consumer Price Index (MoM) exp: 0.3% prev: 0.1%
13:30 US JUL CPI – Ex Food & Energy (MoM) exp: 0.2% prev: 0.3% read more

U.S. indices closed lower on Monday as bond yields resumed their declines. Stocks seeing the most pressure were in the Banks (-2.11%), Diversified Financials (-1.79%) and Insurance (-1.79%) sectors. On the economic data front, the Treasury reported a monthly budget deficit of $119.7B in July (expected $120.0B deficit). The S&P 500 (2,883.09) trades below its 20d moving average (2,962.51 – negative slope) and below its 50d moving average (2,939.07 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 57.90 Our preference: long positions above 57.90 with targets at 59.10 & 59.50 in extension. Alternative scenario: below 57.90 look for further downside with 57.10 & 56.75 as targets. Comment: the RSI is bullish and calls for further upside.

Today’s Economic Events

19:00 US JUL Monthly Budget Satement (B USD) exp: -115 prev: -8

U.S. indices closed lower on Friday, pressured by shares in the Semiconductors & Semiconductor Equipment (-1.72%), Consumer Durables & Apparel (-1.66%), and Automobiles & Components (-1.51%) sectors. On the economic data front, PPI rose 1.7% YoY in July (as expected and in June), and core PPI grew 2.1% (vs. +2.3% expected and +2.3% in June). The S&P 500 (2,918.65) trades below its 20d moving average (2,969.07 – negative slope) and below its 50d moving average (2,936.45 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 57.10 Our preference: long positions above 57.10 with targets at 57.70 & 57.95 in extension. Alternative scenario: below 57.10 look for further downside with 56.50 & 55.90 as targets. Comment: the RSI is mixed and calls for caution.

Today’s Economic Events

07:00 GE JUN Current Account (B EUR) exp: 21.2 prev: 16.5
07:00 GE JUN Exports (MoM) exp: -0.2% prev: 1.1%
07:00 GE JUN Imports (MoM) exp: 0.2% prev: -0.5%
07:00 GE JUN Trade Balance (B EUR) exp: 19.6 prev: 20.6
07:45 FR 2Q P Wages (QoQ) exp: NA prev: 0.8%
09:30 UK 2Q P GDP (QoQ) exp: 0% prev: 0.5%
09:30 UK JUN Industrial Production (MoM) exp: -0.2% prev: 1.4%
09:30 UK JUN Manufacturing Production (MoM) exp: -0.2% prev: 1.4%
09:30 UK JUN Trade Balance in Goods (M GBP) exp: -11970 prev: -11524
09:30 UK JUN Trade Balance Non EU (M GBP) exp: NA prev: -4905
13:30 US JUL PPI – Ex Food & Energy (MoM) exp: 0.2% prev: 0.3%
13:30 US JUL Producer Price Index (MoM) exp: 0.2% prev: 0.1% read more

US indices closed higher on Thursday, helped by shares in the Energy (+2.89%), Software & Services (+2.5%), and Media (+2.48%) sectors. On the economic data front, Initial Jobless Claims reached 209K in week ending August 3 (estimated 215K) vs. 217K in the prior week. Wholesale Inventories were flat in June (estimated 0.2%) vs +0.2% in the prior month. The S&P 500 (2,938.09) trades below its 20d moving average (2,973.83 – negative slope) but breaks above its 50d moving average (2,933.86 – positive slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 56.70 Our preference: long positions above 56.70 with targets at 58.50 & 59.10 in extension. Alternative scenario: below 56.70 look for further downside with 55.90 & 54.70 as targets. Comment: the RSI calls for a bounce.

Today’s Economic Events

13:30 US W30 Initial Jobless Claims (k) exp: 216 prev: 215
15:00 US JUN F Wholesale Inventories exp: 0.1% prev: 0.2%