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29 March 2016
Welcome to this week’s CSS Weekly Review, whilst the markets have quietened down due to a slower release of results this week, yet there are still factors to influence the market throughout the week. Read below to understand how the market moved last week and what to expect in the week ahead.
We saw a negative week and lighter trading ahead of the four-day Easter weekend, retailers were heavily hit after Next delivered a bleak outlook for 2016 on Thursday. This hit the market which had twice tested 6200. The Non-Farm Payrolls, the jobs report, comes out in the U.S. on Friday and will be interesting to see if this can provide a catalyst to push the FTSE through 6200 or if its looks to undo the near 700 point rally we have seen since mid-February. Please click the UK 100 hourly chart below to enlarge.
On the continuous crude oil chart, US Oil traded roughly between $42 – $38.25, with the price generally moving in a downtrend. The largest portion of the movement happened following the release of the Crude Oil Inventories report on Wednesday 23rd, with a total of 9.4M barrels added to the current inventory, the increased supply forced the price lower. Please click the USOIL Continous Hourly chart below to enlarge.
The $38 level has held price twice over the past fortnight and is currently hovering around that level currently, we will be watching oil-exposed stocks closely this week.
Results are light this week on the major U.K. Indices, except for a trading statement coming out from Tui Travel on Thursday which should make interesting reading given the stock is trading at year lows and the increased terrorist activities in some key holiday regions and ahead of the holiday season. However, the potential volatility from non-farm payrolls on Friday is worth watching your positions for any sudden up or down-swings in price.
Polymetal International * A.G. Barr * Lennar Corp. * McCormick & Company
Nostrum Oil & Gas * Game Digital * Paychex * Micron Technology
TUI AG * Hilton Food Group * Wireless Group
No companies reporting
|3:00pm US Conference Board Consumer Confidence||93.9||97.8|
|5:20pm US Fed Chair Yellen Speaks||–||–|
|1:15pm US ADP Non-Farm Employment Change||194K||214K|
|3:30pm US Crude Oil Inventories||2.4M||9.4M|
|8:00am Bank of England Gov. Carney Speaks||–||–|
|9:30am UK Current Accounts||-21.8Bn||-17.5Bn|
|1:30pm US Unemployment Claims||269K||265K|
|9:30am UK Manufacturing Purchasing Managers Index||51.3||50.8|
|1:30pm US Average Hourly Earnings month on month||0.3%||-0.1%|
|1:30pm US Non-Farm Employment Change||208K||242K|
|1:30pm US Unemployment Rate||4.9%||4.9%|
|3:00pm US ISM Manufacturing Purchasing Managers Index||50.8||49.5|
Please note, all figures were correct at the time of writing 29.3.16 10:15am. Forexfactory
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