Real time trading in Polymers, Base Oils, TiO2 and Nanomaterials
Today’s Economic Events
08:50 FR NOV F Markit Composite PMI exp: NA prev: 52.7
08:50 FR NOV F Markit Services PMI exp: NA prev: 52.9
09:00 EU NOV F Markit Composite PMI exp: NA prev: 50.3
09:00 EU NOV F Markit Services PMI exp: NA prev: 51.5
13:15 US NOV ADP Employment Report (k) exp: 156 prev: 125
14:45 US NOV F Markit Composite PMI exp: NA prev: 51.9
14:45 US NOV F Markit Services PMI exp: NA prev: 51.6
15:00 US NOV ISM – Non Manufacturing exp: 54.4 prev: 54.7
US indices declined on Tuesday along with bond yields after President Trump mentioned he could wait another year regarding a trade deal with China. Shares in the Transportation (-2.09%), Semiconductors & Semiconductor Equipment (-1.76%)and Banks (-1.59%) sectors were under the most pressure. On the economic data front, there was no major news released. On Wednesday, economists expect the Mortgage Bankers Association’s Mortgage Applications data for the week ending November 29th. Automatic Data Processing’s Employment Change is anticipated at 140K for November, up 15K from 125K the month before. Markit US Services Purchasing Mangers’ Index for the November final reading is expected to be in-line with the preliminary reading at 51.6 and Markit US Composite Purchasing Managers’ Index data for the November final reading is also expected. Finally, the Institute for Supply Management’s Non-Manufacturing Purchasing Managers’ Index is expected to release at 54.5 for November, down from 54.7 in October.
European markets are expected to start on a flat note.
BRENT Crude Technical Snap (Daily)
| Pivot: 61.60 Our preference: short positions below 61.60 with targets at 60.75 & 60.35 in extension. Alternative scenario: above 61.60 look for further upside with 62.05 & 62.50 as targets. Comment: the RSI is mixed to bearish. |
Today’s Economic Events
US NOV Total Vehicule Sales (M) exp: 16.9 prev: 16.6
07:45 FR OCT Central Govt. Balance (B EUR) exp: NA prev: -109
10:00 EC OCT Euro-Zone: PPI (MoM) exp: NA prev: 0.1%
US indices closed lower on Monday amid disappointing manufacturing data and declines by shares in the Real Estate (-1.75%), Capital Goods (-1.73%) and Semiconductors & Semiconductor Equipment (-1.54%) sectors. On the economic data front, the Markit US Manufacturing Purchasing Managers’ Index rose to 52.6, beating the 52.2 estimate for the November final reading, up from 52.2 in the preliminary reading. The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index declined to 48.1, below the 49.2 consensus for November, down from 48.3 the month before. Construction Spending month over month change fell -0.8%, missing the 0.4% rise expected for October, down from a revised decline of -0.3% in September. On Tuesday, economists expect Auto Sales to rise to 16.90 million for November, up from 16.55 million last month.
European markets are expected to open on a flat note.
BRENT Crude Technical Snap (Daily)
| Pivot: 60.75 Our preference: long positions above 60.75 with targets at 61.70 & 62.10 in extension. Alternative scenario: below 60.75 look for further downside with 60.35 & 59.80 as targets. Comment: the RSI calls for a rebound. |
Today’s Economic Events
08:50 FR NOV F Markit Manufacturing PMI exp: NA prev: 51.6
09:00 EU NOV F Markit Manufacturing exp: NA prev: 46.6
14:45 US NOV F Markit Manufacturing PMI exp: NA prev: 52.2
15:00 US NOV ISM – Manufacturing exp: 49.2 prev: 48.3
15:00 US NOV ISM – Price Paid exp: NA prev: 45.5
15:00 US OCT Construction Spending (MoM) exp: 0.5% prev: 0.5%
US indices closed lower on Friday but posted the largest monthly gain since June. Stocks in the Energy (-1.01%), Semiconductors & Semiconductor Equipment (-0.94%) and Retailing (-0.83%) sectors were under the most pressure. On the economic data front, no major news was released. On Monday, economists expect the Markit US Manufacturing Purchasing Managers’ Index to release at 52.2 for the November final reading, in-line with the preliminary reading. The Institute for Supply Management’s Manufacturing Purchasing Managers’ Index is anticipated at 49.2 for November, up from 48.3 the month before. Finally, Construction Spending month over month change is expected to rise 0.4% for October, compared to a rise of 0.5% in September.
European markets are expected to start on a flat note.