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CSS Weekly Review – With results light in the week ahead, what can stimulate the market this week?

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.

What happened in the UK 100 last week?

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.

Please click the UK 100 hourly chart below to enlarge.CSS Weekly Review - 29th march

US OIL – What happened last week?

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.

Please click the USOIL Continous Hourly chart below to enlarge.CSS Weekly Review

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.

 

Major results to watch 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.

Companies reporting this week

Today

Polymetal International * A.G. Barr * Lennar Corp. * McCormick & Company

Tomorrow

Nostrum Oil & Gas * Game Digital * Paychex * Micron Technology

Thursday 

TUI AG * Hilton Food Group * Wireless Group

Friday 

No companies reporting

Forthcoming Economic Data

Today

Data Type Forecast Previous
3:00pm US Conference Board Consumer Confidence 93.9 97.8
5:20pm US Fed Chair Yellen Speaks

Tomorrow

Data Type Forecast Previous
1:15pm US ADP Non-Farm Employment Change 194K 214K
3:30pm US Crude Oil Inventories 2.4M 9.4M

Thursday

Data Type Forecast Previous
8:00am Bank of England Gov. Carney Speaks
9:30am UK Current Accounts -21.8Bn -17.5Bn
1:30pm US Unemployment Claims 269K 265K

Friday

Data Type Forecast Previous
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

I hope you enjoyed the weekly review with what news is released this week. If you want to be informed on the stock market on a daily basis and you aren’t yet a subscriber of our award-winning newsletter The Morning Call, I suggest you join the movement and get in the know! Subscribe here: The Morning Call newsletter.

Any terms you didn’t understand? Want to know what ‘Non-Farm Employment change’ is? Check out the CSS Glossary.

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