11 April 2016
After the volatile start to the year which saw a c.700 sell off and then a steep recovery which has seen the FTSE test the 6200 level. Last week saw the FTSE test 6200 twice and fall back and keeping the bottom of the range not much below 6100.This week will interesting as the earning season kicks off in the U.S. and Sunday 17th April 2016 sees a meeting of OPEC, with the expectation that production will be cut and we shall see if either of these factors can cause the FTSE to break out and close above the 6200 level and move into a new range or can provide the catalyst for some much anticipated profit taken.
Please click the UK 100 Hourly chart below, to enlarge.
OIL saw a strong increase last week with an increase of over 14% intra-week, with price closing above $40 during the final hours of trade on the 8th. News flow saw 8 oil rigs being cut of their production in the week leading up to the 8th April, taking the total rig count to 354. Crude Oil inventories saw a decrease in inventories by -4.9M barrels, which consequently saw the value of oil for the rest of the week maintain its’ sharp incline.
Please click the US OIL Continuous Hourly Chart below, to enlarge.
Monday
Carr’s Group * LVMH Moet Hennessy Louis Vuitton * Alocoa
Tuesday
ASOS * CSX Corp * Michael Page International * Nanoco Group
Wednesday
Tesco * Halfords Group * JP Morgan Chase & Co. * Jupiter Fund Management
Thursday
Debenhams * Hays * Persimmon * JD Sports Fashion * Burberry Group * Rio Tinto * Blackrock * BP * Bank of America Corp. * Wells Fargo & Co.
Friday
ICG Enterprise Trust * Citigroup * Man Group
Monday
Data Type | Forecast | Previous |
9:30am Fed Announcement | – | – |
Tuesday
Data Type | Forecast | Previous |
9:30am UK Consumer Price Index year-on-year | 0.3% | 0.3% |
Wednesday
Data Type | Forecast | Previous |
1:30pm U.S. Core Retail Sales month-on-month | 0.4% | -0.1% |
1:30pm U.S. Producer Price Index month-on-month | 0.3% | -0.2% |
1:30pm U.S. Retail Sales month-on-month | 0.1% | -0.1% |
3:30pm U.S. Crude Oil Inventories | – | -4.9M |
Thursday
Data Type | Forecast | Previous |
12:00pm UK Monetary Policy Committee | 0-0-9 | 0-0-9 |
12:00pm Monetary Policy Summary | – | – |
12:00pm Official Bank Rate | 0.50% | 0.50% |
1:30pm U.S. Consumer Price Index month-on-month | 0.2% | -0.2% |
1:30pm U.S. Core Consumer Price Index month-on-month | 0.2% | 0.3% |
1:30pm U.S. Unemployment Claims | 2170K | 267K |
Friday
Data Type | Forecast | Previous |
3:00pm U.S. Prelim University of Michigan Consumer Sentiment | 92.3 | 91.0 |
I hope you enjoyed this week’s weekly review. If you want be informed on a daily basis on general market movements or our latest research & analysis, subscribe to the morning call now.