Market Comment
US Market was closed for Independence Day last Friday. US indices rose on Thursday led by shares in the Diversified Financials, Insurance and Retailing sectors. On the economic data front, the change in nonfarm payrolls in June was 288K (vs 215K expected), with the unemployment rate dropping to 6.1% (vs 6.3% expected). The S&P 500 (1985.44), at a historical high, remains above its 20d moving average (1955.23 - positive slope) and its 50d moving average (1917.6 - positive slope).
European markets are expected to start on a negative note.
European markets are expected to start on a negative note.
Foreign Exchange
The US Dollar was mixed against most of its major counterparts on Friday. On the economic data front, no major data was released.
The Euro was broadly unchanged against most of its major counterparts. In Europe, German factory orders, adjusted for seasonal swings and inflation, dropped 1.7% in May after rising by 3.4% in April.
The Australian Dollar rose against all of its major counterparts.
The Euro was broadly unchanged against most of its major counterparts. In Europe, German factory orders, adjusted for seasonal swings and inflation, dropped 1.7% in May after rising by 3.4% in April.
The Australian Dollar rose against all of its major counterparts.
Commodities
After the close of Wall Street, WTI Crude Future (AUG 14) was about flat to $103.77. The contract was above its 20D MA (@ $101) and above its 50D MA (@ $100.35).
Gold was about flat to $1319.9. The precious metal was above its 20D MA (@ $1299) and above its 50D MA (@ $1289).
Copper Future (SEP 14) on Comex was about flat to 327c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). The 14d RSI above 70 (75.81) indicates Copper Future (SEP 14) contract was overbought. In Europe, the London Metal Exchange reported its copper inventories decreased 550 tons to 156500 tons.
Gold was about flat to $1319.9. The precious metal was above its 20D MA (@ $1299) and above its 50D MA (@ $1289).
Copper Future (SEP 14) on Comex was about flat to 327c/lb. The contract was above its 20D MA (@ 307.41c) and above its 50D MA (@ 303.17c). The 14d RSI above 70 (75.81) indicates Copper Future (SEP 14) contract was overbought. In Europe, the London Metal Exchange reported its copper inventories decreased 550 tons to 156500 tons.
European Markets
ECB: Publication of the Harmonised Competitiveness Indicators (10am CET); Participation by Mr. Draghi, Ms Nouy and Mr. Coeuré in Eurogroup meeting in Brussels, Belgium.
Today's Economic Events
GE 07:00: MAY Industrial Production (MoM): NA
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:
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
Web: www.cfb.ae
Email:info@cfb.ae
For more information please visit our website century financial brokers.
Here is another blog that provides regular news and information and is very useful for Forex Signals
No comments:
Post a Comment