Tuesday, March 25, 2014

EVENTS & FINANCIAL NEWS 25-03-2014

Market Comment

US indices dropped on Monday pressured by shares in the Retailing, Pharmaceuticals, Biotechnology & Life Sciences and Health Care Equipment & Services sectors. The S&P 500 (1857.44) broke below its 20d moving average (1862 - positive slope) and remains above its 50d moving average (1832.5 - positive slope).

European markets are expected to start on a falt note.

Foreign Exchange

US Dollar was mixed against most of its major counterparts on Monday. On the US economic data front, the markit manufacturing PMI index fell to 55.5 in March (56.5 expected) from 57.1 the prior month.

The Euro was slightly up against its major counterparts. In Europe, euro-zone PMI composite was down to 53.2 in March, as expected, vs 53.3 in February.

Commodities

After the close of Wall Street, WTI Crude Future (MAY 14) was about flat to $99.4. The contract was below its 20D MA (@ $100.38) and above its 50D MA (@ $98.05).

Gold was down $25.1 to $1309.7. The precious metal was below its 20D MA (@ $1344) and above its 50D MA (@ $1302).

Copper Future (MAY 14) on Comex was about flat to 294.05c/lb. The contract was below its 20D MA (@ 307.74c) and below its 50D MA (@ 319.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 2025 tons to 263675 tons.

European Markets

ECB: Lecture by the President at Sciences Po in Paris, France. (5pm CET)

Siemens announced plans to invest £160M in wind turbine production and installation facilities in Yorkshire, England, saying: "The revised plan will be spread across two sites comprising the previously announced Green Port Hull project construction, assembly and service facility and a new rotor blade manufacturing facility in nearby Paull, in East Riding. Siemens is investing £160M across the two locations and its port partner Associated British Ports is investing a further £150M in the Green Port Hull development."

Today's Economic Events

FR 07:45: MAR Business Confidence Indicator: NA
FR 07:45: MAR Production Outlook Indicator: NA
GE 09:00: MAR IFO - Business Climate: NA
GE 09:00: MAR IFO - Current Assessment: NA
GE 09:00: MAR IFO - Expectations: NA
UK 09:30: FEB PPI - Input (MoM): NA
UK 09:30: FEB PPI - Output (MoM): NA
UK 09:30: FEB CPI - EU Harmonised (MoM): NA
US 14:00: FEB New Home Sales (Thsd): 442.5
US 14:00: MAR Consumer Confidence: 78.8

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