Tuesday, May 13, 2014

EVENTS & FINANCIAL NEWS 13-05-2014

Market Comment

US indices jumped on Monday led by shares in the Retailing, Consumer Durables & Apparel and Software & Services sectors. The S&P 500 (1896.65) remains above its 20d moving average (1872.4 - positive slope) and its 50d moving average (1866.6 - 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, no major news was released.

The Euro was mixed against its major counterparts. In Europe, Bank of France business sentiment index fell to 98 in April vs 99 in March.

Commodities

After the close of Wall Street, WTI Crude Future (JUN 14) was up $0.6 to $100.61. The contract was below its 20D MA (@ $101.64) and above its 50D MA (@ $100.41).

Gold was up $7.4 to $1296.2. The precious metal was above its 20D MA (@ $1295) and below its 50D MA (@ $1312).

Copper Future (JUL 14) on Comex was up 6.3c to 314.55c/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 3000 tons to 205325 tons.

European Markets

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

Today's Economic Events

GE 10:00: MAY Zew Survey (Econ. Sentiment): NA
GE 10:00: MAY Zew Survey (Current Situation): NA
US 13:30: APR Retail Sales: 0.3%
US 13:30: APR Retail Sales less Autos: 0.5%
US 15:00: MAR Business Inventories: 0.4%

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