Category: News

Today’s Economic Events

07:45 FR SEP Business Confidence Indicator exp: 101.9 prev: 102
07:45 FR SEP Production Outlook Indicator exp: NA prev: 2.4
09:00 GE SEP IFO – Business Climate exp: 94.5 prev: 94.3
09:00 GE SEP IFO – Current Assessment exp: 97 prev: 97.3
09:00 GE SEP IFO – Expectations exp: 91.9 prev: 91.3
09:30 UK AUG Public Finances (PSNCR) (B GBP) exp: NA prev: -13.5
09:30 UK AUG Public Sector Net Borrowing (B GBP) exp: 6.5 prev: -2
15:00 US SEP Consumer Confidence exp: 133.6 prev: 135.1 read more

U.S. indices closed little changed on Monday as weak data out of Europe dampened investor sentiment. Manufacturing activity in Germany fell to its lowest level since the financial crisis. Shares in the Consumer Durables & Apparel (+0.97%), Semiconductors & Semiconductor Equipment (+0.82%) and Household & Personal Products (+0.76%) sectors moved higher while shares in the Transportation (-0.7%), Health Care Equipment & Services (-0.69%) and Pharmaceuticals, Biotechnology & Life Sciences (-0.55%) sectors were in the red.

On the economic data front, the Markit U.S. Manufacturing PMI rose to 51.0 in September (vs. 50.4 expected) from 50.3 in August, and the Services PMI climbed to 50.9 (vs. 51.4 expected) from 50.7. On Tuesday, the Conference Board Consumer Confidence Index is expected to drop to 133.0 for September from 135.1 in August.

The S&P 500 (2991.78) trades above both its 20d moving average (2,963.10 – positive slope) and 50d moving average (2,950.97 – flat slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 64.60 Our preference: long positions above 64.60 with targets at 65.20 & 65.50 in extension. Alternative scenario: below 64.60 look for further downside with 64.30 & 64.05 as targets. Comment: the RSI calls for a bounce.

Today’s Economic Events

08:15 FR SEP P Markit Composite PMI exp: 52.6 prev: 52.9
08:15 FR SEP P Markit Manufacturing PMI exp: 51.1 prev: 51.1
08:15 FR SEP P Markit Services PMI exp: 53.2 prev: 53.4
09:00 EU SEP P Markit Composite PMI exp: 51.9 prev: 51.9
09:00 EU SEP P Markit Manufacturing exp: 47.3 prev: 47
09:00 EU SEP P Markit Services PMI exp: 53.3 prev: 53.5
14:45 US SEP P Markit Composite PMI exp: NA prev: 50.7
14:45 US SEP P Markit Manufacturing PMI exp: 50.4 prev: 50.3
14:45 US SEP P Markit Services PMI exp: NA prev: 50.7 read more

U.S. indices closed lower in a late day sell-off on Friday after news that Chinese trade officials were cutting their U.S. visit short. Shares in the Semiconductors & Semiconductor Equipment (-1.81%), Retailing (-1.29%) and Technology Hardware & Equipment (-1.07%) sectors felt the most pressure. On Monday, the Markit U.S. Manufacturing PMI for September is expected to be in line with the prior month’s reading of 50.3.

The S&P 500 (2992.07) trades above its 20d moving average (2,955.87 – positive slope) and its 50d moving average (2,951.41 – flat slope).

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

BRENT Crude Technical Snap (Daily)

Pivot: 64.15 Our preference: long positions above 64.15 with targets at 65.55 & 66.50 in extension. Alternative scenario: below 64.15 look for further downside with 63.05 & 62.20 as targets. Comment: the RSI is bullish and calls for further upside.

Today’s Economic Events

07:00 GE AUG Producer Price Index (MoM) exp: -0.1% prev: 0.1%
07:45 FR 2Q F Wages (QoQ) exp: NA prev: 0.5%
15:00 EC SEP A Euro-Zone: Consumer Confidence exp: -7.1 prev: -7.1

U.S. indices closed flat on Thursday despite upbeat data suggesting the U.S. economy is still on a moderate growth path. Shares in the Software & Services (+0.93%), Telecommunication Services (+0.61%) and Health Care Equipment & Services (+0.55%) sectors pushed higher while shares in the Automobiles & Components (-0.99%), Technology Hardware & Equipment (-0.75%) and Transportation (-0.7%) sectors were under pressure. On the economic data front, jobless claims rose to 208K for the week ending September 14 (vs. 213K estimated) from 206K in the prior week. The Leading Index was flat MoM (vs. -0.1% expected). Existing Home Sales increased 1.3% MoM to an annualized rate of 5.49M units in August (vs. 5.38M expected). The S&P 500 (3,006.79) trades above its 20d moving average (2,952.41 – positive slope) and its 50d moving average (2,951.56 – flat slope).

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

BRENT Crude Tecnical Snap (Daily)

Pivot: 64.40 Our preference: short positions below 64.40 with targets at 63.05 & 62.20 in extension. Alternative scenario: above 64.40 look for further upside with 64.90 & 65.60 as targets. Comment: the RSI is bearish and calls for further decline.

Today’s Economic Events

09:30 UK AUG Retail Sales (MoM) exp: -0.2% prev: 0.2%
12:00 UK BoE: Rates decision exp: 0.75% prev: 0.75%
13:30 US SEP Philadelphia Fed. exp: 10 prev: 16.8
13:30 US W36 Initial Jobless Claims (k) exp: 215 prev: 204
15:00 US AUG Existing Home Sales (M) exp: 5.4 prev: 5.4
15:00 US AUG Leading Indicators exp: -0.1% prev: 0.5%