Tuesday, May 6, 2014

EVENTS & FINANCIAL NEWS 06-05-2014

Market Comment

US indices rebounded on Mondy helped by shares in the Banks, Diversified Financials and Household & Personal Products sectors. The S&P 500 (1884.66) remains above its 20d moving average (1863.4 - flat slope) and its 50d moving average (1863.7 - positive slope).

European markets are expected to start on a positive note.

Foreign Exchange

US Dollar was mixed against most of its major counterparts on Monday. On the US economic data front, ISM non-manufacturing composite index rose to 55.2 (54.0 expected) in April from 53.1 the previous month.

The Euro was mixed against its major counterparts. Euro zone PPI index was down by 0.2% in March, as expected and at the same pace than a month ago. Sentix investor confidence index fell to 12.8% for May vs 14.1 in April and 14.3 anticipated.

Commodities

After the close of Wall Street, WTI Crude Future (JUN 14) was about flat to $99.38. The contract was below its 20D MA (@ $101.64) and below its 50D MA (@ $100.41).

Gold was up $10.6 to $1310.2. The precious metal was above its 20D MA (@ $1301) and below its 50D MA (@ $1317).

Copper Future (JUL 14) on Comex was down 1.6c to 305.4c/lb. The contract was above its 20D MA (@ 304.03c) and above its 50D MA (@ 305.13c). In Europe, the London Metal Exchange reported its copper inventories decreased 1200 tons to 228600 tons.

European Markets

ECB: Publication of the Consolidated Financial Statement of the Eurosystem (3pm CET)

Conference: connecticum 2014 12th International Recruitment Fair

Today's Economic Events

EC 10:00: MAR Euro-Zone: Retail Trade (MoM): NA
US 13:30: MAR Trade Balance (Bln): -40.4

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:

Here is a CFB blog that gives useful daily Gold Analysis on dailybasis.
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.