Monday, March 24, 2014


Market Comment

US indices declined on Friday pressured by shares in the Pharmaceuticals, Biotechnology & Life Sciences, Consumer Durables & Apparel and Software & Services sectors. The S&P 500 (1866.52) remains above its 20d moving average (1861.6 - positive slope) and its 50d moving average (1832.1 - positive slope).

European markets are expected to open on a positive note.

Foreign Exchange

US Dollar was mixed against most of its major counterparts on Friday. On the US economic data front, no major news was released.

The Euro was mixed against its major counterparts. In Europe, euro zone consumer confidence index was up to -9.3 in March vs -12.7 the month before and -12.3 anticipated.


After the close of Wall Street, WTI Crude Future (MAY 14) was up $0.6 to $99.46. The contract was above its 20D MA (@ $95.67) and above its 50D MA (@ $96.35).

Gold was up $5.7 to $1333.5. The precious metal was below its 20D MA (@ $1345) and above its 50D MA (@ $1301).

Copper Future (MAY 14) on Comex was up 2c to 294.85c/lb. The contract was below its 20D MA (@ 330.62c) and below its 50D MA (@ 326.76c). In Europe, the London Metal Exchange reported its copper inventories decreased 2150 tons to 265700 tons.

Today's Economic Events

GE : FEB Import Prices (MoM): NA

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