Apr 16


  • BY:
  • April, 16th, 2014 6:14 +00:00

Good morning,

yesterday US equities gained ground for the second consecutive day and the DJIA closed at 16,262.56 (+0.55%), up 89.32 points. The S&P500 rose 12.37 points at 1,842.98 (+0.68%) and Nasdaq gained 11.47 points at 4,034.16 (+0.29%).  In Japan the Nikkei225 is soaring 365 points at 14,362 (+2.61%) and in Hong Kong the Hang Seng is at 22,817.53 (+0.66%), up 150 points.  Even Chinese Gross Domestic Product figures were at 6 quarter low the Shanghai Composite is up 2.29 points at 2,103.89 (+0.15%).

EurUsd is trading at 1.3829 (+0.11%), up 14 pips and UsdJpy is gaining 36 pips at 102.29 (+0.36%). Both GbpUsd and UsdChf  are flat at 1.6728 and at 0.8802.  Gold is losing 5.23$ at 1,297.53 $/oz (-0.41%) and Silver is trading at 19.47 $/oz (-0.82%).  Crude Oil is up 6 cents at 103.81 $/barrel (+0.06%).

It seems that Chinese macro data did not trigger risk reversal trades because investors are waiting that authorities will announce a stimulus plan in 2 weeks time that will help the second biggest economy in the world to recover its average growth rate.  UK unemployment rate at 08:30 GMT and Eurozone CPI at 09:00 GMT will be the most relevant data in the morning session and at 12:30 GMT the Bank of Canada will release the interest rate level.  FED beige book at 18:00 GMT  likely will be a catalyst during the US session.

Have a nice day