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Earnings season and OPEC meeting

What happened in the UK 100 last week?

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.

UK 100 Hourly Chart

US OIL – What happened last week?

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.

US OIL CONT - H1 Chart

 What are the major results to watch for this week?

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

Forthcoming Economic Data

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

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