Market Comment
US indices were mixed on Tuesday. Shares in the Transportation, Food, Beverage & Tobacco and Energy sectors traded higher while shares in the Media, Telecommunication Services and Semiconductors & Semiconductor Equipment sectors were under pressure. The S&P 500 (1897.45) remains above its 20d moving average (1875.7 - positive slope) and its 50d moving average (1867.6 - positive slope).
European markets are expected to start on a negative note.
European markets are expected to start on a negative note.
Foreign Exchange
US Dollar was firm against most of its major counterparts on Tuesday. On the US economic data front, NFIB Small Business Optimism index rose to 95.2 (94.5 expected) in April from 93.4 the previous month. Retail sales advance increased 0.1% MoM (+0.4% expected) in April after an upwardly revised 1.5% gain the prior month. Finally, Import Price Index declined 0.4% MoM (+0.3% expected) in March.
The Euro was under pressure against its major counterparts. In Europe, in Germany, ZEW survey index for current situation was up to 62.1 in May vs 59.5 the month before and 60.5 expected. The index for expectations fell to 33.1 vs 43.2 in April and 40 anticipated by economists.
The Euro was under pressure against its major counterparts. In Europe, in Germany, ZEW survey index for current situation was up to 62.1 in May vs 59.5 the month before and 60.5 expected. The index for expectations fell to 33.1 vs 43.2 in April and 40 anticipated by economists.
Commodities
After the close of Wall Street, WTI Crude Future (JUN 14) was up $1.3 to $101.86. The contract was above its 20D MA (@ $101.64) and above its 50D MA (@ $100.41).
Gold was about flat to $1293.9. The precious metal was below its 20D MA (@ $1295) and below its 50D MA (@ $1312).
Copper Future (JUL 14) on Comex was down 1.8c to 313.1c/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 2350 tons to 202975 tons.
Gold was about flat to $1293.9. The precious metal was below its 20D MA (@ $1295) and below its 50D MA (@ $1312).
Copper Future (JUL 14) on Comex was down 1.8c to 313.1c/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 2350 tons to 202975 tons.
European Markets
ECB: Publication of the Long term interest rates statistics and the Euro area securities issues statistics at 10am CET
Today's Economic Events
FR 07:45: APR Consumer Price Index (MoM): 0.1%
FR 07:45: APR CPI - EU Harmonised (MoM): 0.1%
GE 07:00: APR Consumer Price Index (MoM): -0.2%
UK 09:30: MAR Unemployment Rate (ILO): 6.8%
GE 07:00: APR CPI - EU Harmonised (MoM): -0.3%
EC 10:00: MAR Euro-Zone: Industrial Production (MoM): -0.3%
US 15:30: W18 Crude Oil Inventories (WoW chg): -1000
FR 07:45: APR CPI - EU Harmonised (MoM): 0.1%
GE 07:00: APR Consumer Price Index (MoM): -0.2%
UK 09:30: MAR Unemployment Rate (ILO): 6.8%
GE 07:00: APR CPI - EU Harmonised (MoM): -0.3%
EC 10:00: MAR Euro-Zone: Industrial Production (MoM): -0.3%
US 15:30: W18 Crude Oil Inventories (WoW chg): -1000
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