Tuesday, August 5, 2014

EVENTS & FINANCIAL NEWS 05-08-2014

Market Comment

US indices rose on Monday led by shares in the Energy, Diversified Financials and Retailing sectors. The S&P 500 (1938.99) remains below its 20d moving average (1968.1 - positive slope), and its 50d moving average (1954.5 - positive slope).

European markets are expected to start on a flat note.

Foreign Exchange

The US Dollar was mixed on Monday, rising against the EUR and CHF, while falling against the JPY and GBP. There was no major economic data.

The Euro was under pressure against most of its major counterparts. In Europe, according to Sentix, investor confidence index in euro zone plunged to 2.7 in August from 10.1 in July. Economists anticipated the index to be 9. Euro zone PPI index increased by 0.1% in June from a 0.1% decline the month before. Economists anticipated the index to be flat.

The Australian Dollar rose against all of its major counterparts.

Commodities

After the close of Wall Street, WTI Crude Future (SEP 14) was up $0.6 to $98.46. The contract was below its 20D MA (@ $101) and below its 50D MA (@ $100.35).

Gold was down $5 to $1288.4. The precious metal was below its 20D MA (@ $1307) and below its 50D MA (@ $1294).

Copper Future (SEP 14) on Comex was up 3.4c to 324.8c/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 25 tons to 146175 tons.

Today's Economic Events

EC 10:00: JUN Euro-Zone: Retail Trade (MoM): NA
US 15:00: JUN Factory Orders: 0.6%
US 15:00: JUL ISM - Non Manufacturing: 56.3

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