FROM: PETER CRUZ DATE: 6th Mar., 2014 – Thurs. Market Brief In a week rife with US data, equity investors have not been swayed by economic reports, whether worse, or better, than projected. And that’s not likely to change, given the weather pass currently being granted to the numbers. “We’re going to be debating whether it’s the weather, or something more fundamental, until the weather gets better,” said Hugh Johnson, chairman of Hugh Johnson Advisors, who expects that reports unencumbered by harsh winter won’t be forthcoming until April or May. Friday’s nonfarm payrolls report is no exception, regardless whether it surprises to the upside or downside, “Friday will have some sort of a surprise, but I don’t think it’s going to pry anybody away from this view, that the numbers have been very much affected by the cold weather,” Johnson said. On the data slate there’s UK BOE rate Decision; UK BOE Asset Purchase target; Euro-Zone ECB Rate Decision; Euro-Zone ECB Marginal Lending Facility; US Initial Jobless Claims; US Continuing Claims and US factory Orders. SELL EUR @ 1.3720 OR BETTER - STOP @ 1.3800 – TARGET @ 1.3600 – no change SELL GBP @ 1.6710 OR BETTER – STOP @1.6780 - TARGET @ 1.6565 BUY USD/JPY @ 102.40 OR BETTER – STOP @ 101.80 – TARGET @ 103.65 SELL CL0414 @ 101.10 OR BETTER – STOP @ 101.90 - TARET @ 99.30 SELL XAU @ 1340 OR BETTER – STOP @ 1350 - TARGET @ 1320 – no change SELL XAG @ 21.20 OR BETTER – STOP @ 21.80 – TARGET @ 20.60 – no change GOOD LUCK AND HAPPY TRADING PLS. NOTE: 1. ALWAYS REMEMBER TO PUT STOPS WHENEVER YOU TRADE, MARKETS ARE VERY VOLATILE. 2. THE ABOVE BRIEF IS MY PERSONAL OPINION AND DOES NOT CONSTITUTE ANY PROMISES OR GUARANTEES OF PROFITS. TRADING IN CURRENCIES AND COMMODITIES ARE HIGH RISKS AND IT IS NOT FOR EVERYONE.
Posted on: Thu, 06 Mar 2014 04:03:14 +0000
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