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25 April 2016
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.
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.
Lok’n Store Group * GVC Holdings * London Capital Group Holdings
BP * Boohoo.com * Standard Chartered
Home Retail Group * British American Tobacco * GlaxoSmithKline * Antofagasta * London Stock Exchange * Facebook * Barclays * Rolls-Royce Holdings * Apple
Schroders * WPP * Weir Group * Taylor Wimpey * Lloyds Banking Group * ARM Holdings * Aggreko * Tullow Oil
International Consolidated Airlines Group SA * AstraZeneca * Royal Bank of Scotland * Old Mutual
|9:00am German IFO Business Climate||107.1||106.7|
|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|
|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%|
|1:30pm U.S. Advance Gross Domestic Product quarter on quarter||0.7%||1.4%|
|1:30pm U.S. Unemployment Claims||252K||247K|
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