Monday, May 19, 2014

EVENTS & FINANCIAL NEWS 19-05-2014

Market Comment

US indices edged up last Friday helped by shares in the Telecommunication Services, Retailing and Food, Beverage & Tobacco sectors. The S&P 500 (1877.86) remains below its 20d moving average (1879.1 - positive slope) but above its 50d moving average (1867.9 - flat slope).

European markets are expected t open on a negative note.

Foreign Exchange

US Dollar was mixed against most of its major counterparts on Friday. On the US economic data front, housing starts jumped 13.2% MoM (+3.6% expected) in April while building permits rose 8.0% MoM (+1.3% expected). The Thomson Reuters/University of Michigan preliminary sentiment index fell to 81.8 (84.5 expected) in May from 84.1 the previous month.

The Euro slid against its major counterparts. In Europe, EU 27 new car registrations were up by 4.6% in April after a 10.6% jump in March. Euro zone trade balance was an excess of E17.1B in March after an excess of E14.2B in February.

The Australian Dollar recovered slightly against its major counterparts.

Commodities

After the close of Wall Street, WTI Crude Future (JUN 14) was up $0.6 to $102.1. The contract was above its 20D MA (@ $101) and above its 50D MA (@ $100.35).

Gold was down $2.9 to $1293.2. The precious metal was below its 20D MA (@ $1295) and below its 50D MA (@ $1309).

Copper Future (JUL 14) on Comex was about flat to 314.6c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). In Europe, the London Metal Exchange reported its copper inventories decreased 4550 tons to 186525 tons.

UK Market News

UK: The average asking price for homes rose to a record high of £272,003 in May, up 3.6% MoM vs +2.6% in April (+8.9% YoY vs +7.3% in April), the biggest jump since April 2002, reported online estate agency Rightmove.

European Markets

ECB: Speech by Mr. Mersch at Bargeldsymposium organised by Deutsche Bundesbank in Frankfurt, Germany

Conference: 5th Annual Discovery Partnerships 2014; 7. Jahresforum Effiziente Fonds Services

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