Apr 29


  • BY:
  • April, 29th, 2014 8:34 +00:00

Good morning,

Equities in Asia had a positive performance and the Nikkei was closed for a holiday. In Hong Kong the Hang Seng rose 319.72 to 22,452.25 (+1.44%) and the Shanghai Composite in China rose 16.85 points to 2,020.34 (+0.84%).

In Europe the Stoxx50 is up 10.76 points to 3,176.60 (+0.34%) and the DAX in Germany is gaining 61.95 points at 9,508.31 (+0.66%). In UK the FTSE100 is at 6,723.38 (+0.35%), up 23.22 points.

Currencies still in a low volatility environment EurUsd is up 7 pips at 1.3858 (+0.05%) and UsdJpy is gaining 14 pips at 102.62 (+0.14%). GbpUsd is struggling to consolidate above 1.6820 and is trading at 1.6834 (+0.2%). UsdChf is down 1 pip at 0.8803 (-0.01%).

Metals are losing ground and Gold is again below 1,300 $/oz, not a good signal because is trading below all the relevant moving averages and bearish positions might increase. The commodity is trading at 1,290.38 (-0.51%), down 6.6$. Silver is underperforming the shiny metal and is trading at 19.41 $/oz. Crude Oil is up 40 cents at 101.24 $/barrel.

Both EurUsd and GbpUsd are near important resistance levels and macro data are likely to be a catalyst for a breakout or a retracement. Today at 14:00 GMT will be released both US and Eurozone Consumer Confidence.