CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider (Saxo Bank). You should consider whether you understand how CFDs, FX or any of our other products work and whether you can afford to take the high risk of losing your money.

Welcome to this week’s version of the CSS Weekly Review

What happened in the UK 100 last week?

Last week saw a new year high set on the Uk100, where the market traded over 6425. We saw some profit taking after this at the tail end of the week but still saw a positive close overall. This week will be interesting as we have some of the UK’s biggest banks reporting: Standard Chartered, Barclays, Lloyds Banking Group and RBS are all reporting starting on Tuesday.

These results should help provide a health check on the British economy. There will also be the latest interest decision from the U.S. Central Bank and monetary policy statement after the hours on Wednesday. If the market is going to push up to test the last week’s highs or continue to pullback, one of these factors could be key.

Please click the image below to enlarge the UK 100 Hourly chart.

UK 100 price action

 

What happened with U.S. Oil last week?

Oil continued to make steady gains, with a further 14% increase in value from the start to the finish of the trading week where price closed at a touch above $43. Oil reached its highest valuation in 5 months, on April 21st. Prices then retreated from the heights amid signs a global glut will be prolonged as Middle Eastern producers boosted supplies. Crude Oil Inventories on Wednesday saw a 0.1M decrease in inventory count to 2.1M (as opposed to the 2.2M as forecast) this consequently saw a strong price action rally. Oil futures value shot up 10% intraday.

Please click the image below to enlarge the US Oil Continuous Hourly chart.

US Oil Continuous Hourly Chart

 

What are the major results to watch for this week?

Monday

Lok’n Store Group * GVC Holdings * London Capital Group Holdings

Tuesday 

BP * Boohoo.com * Standard Chartered

Wednesday

Home Retail Group * British American Tobacco * GlaxoSmithKline * Antofagasta * London Stock Exchange * Facebook * Barclays * Rolls-Royce Holdings * Apple

Thursday

Schroders * WPP * Weir Group * Taylor Wimpey * Lloyds Banking Group * ARM Holdings * Aggreko * Tullow Oil

Friday

International Consolidated Airlines Group SA * AstraZeneca * Royal Bank of Scotland * Old Mutual

 

Major forthcoming Economic Data this week

Monday

Data Type Forecast Previous
9:00am German IFO Business Climate 107.1 106.7

Tuesday

Data Type Forecast Previous
1:30pm U.S. Core Durable Goods Orders month on month 0.6% -1.3%
3:00pm U.S. CB Consumer Confidence 95.8 96.2

Wednesday

Data Type Forecast Previous
9:30am UK Prelim Gross DOmestic product quarter on quarter 0.4% 0.6%
3:30pm U.S. Crude Oil Inventories 2.1M
7:00pm U.S. Federal Open Market Committee Statement
7:00pm U.S. Federal Funds Rate <0.50% <0.50%

Thursday

Data Type Forecast Previous
1:30pm U.S. Advance Gross Domestic Product quarter on quarter 0.7% 1.4%
1:30pm U.S. Unemployment Claims 252K 247K

Friday

I hope you enjoyed this week’s weekly review. If you would like to be informed on a daily basis on general stockmarket movements or our latest research & analysis, subscribe to the morning call now.

Subscribe here.

 

Get Started with CSS

Open an Account

Subscribe to our award winning daily newsletter

Voted "Best Market Newsletter" in 2012, 2014, 2015 and 2017 by the City of London Wealth Management Awards

Subscribe to our newsletter (Popup)

By signing up to our free email, you are consenting to receive these promotions. The newsletter is sent up to three times per day during the week and up to once per day over the weekend and is directed at UK residents. The newsletter contains company news, market movements, CSS research and promotions and breaking economic news. Occasionally our newsletter will contain advertisements from trusted partners. However, we will never give, sell or rent your email address to any other companies. If you want to stop receiving our free emails you can unsubscribe at any time by clicking on the link at the bottom of each email. You can read our privacy policy here.

Sending
No, thank you I am already subscribed