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21 March 2016
We saw the FTSE stabilise last week after an aggressive sell-off at the start of the year and a dramatic rally over the past few weeks. We saw the Budget push the market on Wednesday although the gains were quickly given up on Thursday and we had a slightly positive end to week.
Now that most of the major economic reports have come out and we have erased most of the New Year losses, it will be interesting to see whether the FTSE consolidates and moves higher or we are dragged lower.
US Oil ended the week slightly higher last week. The decreased supply count of Crude Oil Inventories as released Wednesday 15th saw the amount held in inventory increase less than forecast, a total of 1.3m barrels were added to the inventory opposed to the expected 2.9m.
Consequently, this saw crude pick up throughout the latter end of the week, rising to roughly $41 before declining to a week-end level of $39. Please see the OILUS Continous Hourly chart for reference.
Rank Group * Milton Group * CVS Group * Johnston Press * Bovis Homes Group
Sky * Jimmy Choo * Bellway * Thomas Cook Group * United Utilities Group
Phoenix Group Holdings * Kingfisher * GW Pharmaceuticals * Computacentre
John Laing Group * Standard Chartered * OneSavings Bank * Ladbrokes * Prudential * Schroders
No companies announced
|9:00am: European Currency Account||26.3bn||25.5bn|
|11:00am: CBI Industrial Order Expectations||-13||-17|
|2:00pm: U.S. Existing Home Sales||5.32m||5.47m|
|9:00am EUR German IFO Business Climate||106.1||105.7|
|9:30am UK Consumer Price Index year on year||0.4%||0.3%|
|10:00am EUR German ZEW Economic Sentiment||6.3||1.0|
|2:30pm U.S. Crude Oil Inventories||2.5M||1.3M|
|9:30am UK Retail Sales month on month||-0.7%||2.3%|
|10:15am EUR Targeted Long Term Refinancing Option||–||18.3bn|
|12:30pm U.S. Core Durable Goods Orders month on month||-0.2%||1.8%|
|12:30pm U.S. Unemployment Claims||267K||265K|
|12:30pm U.S. Final Gross Domest Product quarter on quarter||1.0%||1.0%|
Please note that at the time of writing 21/3/16 09:00am, not all statistics were forecast yet, from our source www.forexfactory.com – these will be updated as the week commences.
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