Market Comment
US indices dropped on Tuesday pressured by shares in the Telecommunication Services, Capital Goods and Automobiles & Components sectors. The S&P 500 (1872.93) broke below its 20d moving average (1879.4 - flat slope) and remains above its 50d moving average (1868 - flat slope). Watch today's FOMC Minutes.
European markets are expected to start on a flat note.
European markets are expected to start on a flat note.
Foreign Exchange
US Dollar was mixed against most of its major counterparts on Tuesday. On the US economic data front, no major data was released.
The Euro was under pressure against its major counterparts. In Europe, German PPI index fell by 0.1% in April after a 0.3% decline the month before. Economists anticipated it to be flat.
The Euro was under pressure against its major counterparts. In Europe, German PPI index fell by 0.1% in April after a 0.3% decline the month before. Economists anticipated it to be flat.
Commodities
After the close of Wall Street, WTI Crude Future (JUN 14) was about flat to $102.44. The contract was above its 20D MA (@ $101) and above its 50D MA (@ $100.35).
Gold was about flat to $1294.6. The precious metal was below its 20D MA (@ $1295) and below its 50D MA (@ $1307).
Copper Future (JUL 14) on Comex was down 2.2c to 314.5c/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 2225 tons to 180825 tons.
Gold was about flat to $1294.6. The precious metal was below its 20D MA (@ $1295) and below its 50D MA (@ $1307).
Copper Future (JUL 14) on Comex was down 2.2c to 314.5c/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 2225 tons to 180825 tons.
European Markets
ECB: Governing Council meeting of the ECB in Frankfurt at 9am CET; Publication of the Euro area monthly balance of payments at 10am CET
Conference: Biosimilars
Conference: Biosimilars
Today's Economic Events
EC 09:00: MAR Euro-Zone: Current Account (Bln) (MoM): NA
UK 09:30: APR Retail Sales (MoM): 0.5%
EC 15:00: APR Euro-Zone: Consumer Confidence: -8.3
US 15:30: W19 Crude Oil Inventories (WoW chg): 0
UK 09:30: APR Retail Sales (MoM): 0.5%
EC 15:00: APR Euro-Zone: Consumer Confidence: -8.3
US 15:30: W19 Crude Oil Inventories (WoW chg): 0
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