Market Comment
US indices were mixed on Wednesday. Shares in the Utilities, Food & Staples Retailing and Semiconductors & Semiconductor Equipment sectors traded higher while shares in the Commercial & Professional Services, Insurance and Food, Beverage & Tobacco sectors were under pressure. The S&P 500 (1868.2) remains above its 20d moving average (1852.3 - positive slope) and its 50d moving average (1828.9 - positive slope).
European markets are expected to open on a positive note.
European markets are expected to open on a positive note.
Foreign Exchange
US Dollar was mixed against most of its major counterparts on Wednesday. On the US economic data front, MBA Mortgage applications for the week ended March 7th fell 2.1%.
The Euro was firm against its major counterparts. In Europe, euro zone industrial production slid 0.2% in January after a 0.4% drop the month before (revised from -0.7%). Economists expected a 0.5% increase.
The Euro was firm against its major counterparts. In Europe, euro zone industrial production slid 0.2% in January after a 0.4% drop the month before (revised from -0.7%). Economists expected a 0.5% increase.
Commodities
After the close of Wall Street, WTI Crude Future (APR 14) was down $1.8 to $98.26. The contract was above its 20D MA (@ $95.67) and above its 50D MA (@ $96.35). The US Department of Energy reported that, for the week ended 7 March, crude oil inventories increased 6180k barrels compared to the previous week.
Gold was up $18 to $1367. The precious metal was above its 20D MA (@ $1333) and above its 50D MA (@ $1285).
Copper Future (MAY 14) on Comex was about flat to 295.5c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (18.99) indicates Copper Future (MAY 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 2100 tons to 255500 tons.
Gold was up $18 to $1367. The precious metal was above its 20D MA (@ $1333) and above its 50D MA (@ $1285).
Copper Future (MAY 14) on Comex was about flat to 295.5c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). The 14d RSI below 30 (18.99) indicates Copper Future (MAY 14) contract was oversold. In Europe, the London Metal Exchange reported its copper inventories decreased 2100 tons to 255500 tons.
European Markets
ECB: Opening keynote address by Mr. Coeuré on "Achieving a fully integrated banking union - the three pillars of the European Central Bank" at The Economist’s Future of Banking Summit "Adapting to change: tomorrow’s banking model" in Paris, France. (9:15am CET)
Today's Economic Events
FR 07:45: FEB Consumer Price Index (MoM): 0.5%
FR 07:45: FEB CPI - EU Harmonised (MoM): 0.6%
US 12:30: W9 Initial Jobless Claims (Thsd): 330
US 12:30: FEB Retail Sales: 0.2%
US 12:30: FEB Retail Sales less Autos: 0.1%
US 14:00: JAN Business Inventories: 0.4%
US 18:00: FEB Monthly Budget Satement (Bln): -195
FR 07:45: FEB CPI - EU Harmonised (MoM): 0.6%
US 12:30: W9 Initial Jobless Claims (Thsd): 330
US 12:30: FEB Retail Sales: 0.2%
US 12:30: FEB Retail Sales less Autos: 0.1%
US 14:00: JAN Business Inventories: 0.4%
US 18:00: FEB Monthly Budget Satement (Bln): -195
Contact Us:
Direct:04-3841906
Web: www.cfb.ae
Email:info@cfb.ae
For more information please visit our website century financial brokers.
Here are some useful links that you can follow:
You can also follow CFB on facebook (useful advice on posts regularly)
Here is another blog that provides regular news and information and is very useful for Forex Signals.
Web: www.cfb.ae
Email:info@cfb.ae
For more information please visit our website century financial brokers.
Here is another blog that provides regular news and information and is very useful for Forex Signals.
No comments:
Post a Comment