Latest CFD Market Reports
Crude Tests Its Trend, Commodity Currencies Do the Same
Risk appetite and commodity trends typically move more-or-less in tandem. However, there are times when they the link wanes or even breaks down. This correlation has certainly ebbed over the past 48 hours. Since Monday’s follow through on the G8 meeting outcome, sentiment winds have clearly died down. However, some of the commodity bloc currencies (especially those valued against the Japanese yen) have extended and even accelerated their declines.
Stronger Dollar Leads to Fallback of Crude, Gold, and Silver Prices
North American Commodity Update, Last Updated 7/2/2009 4:27 PM EST (GMT = EDT +5:00)
Commodities – Energy
Crude Prices Fall After Disappointing Non-Farm Payrolls Report
Crude Oil (WTI) $66.810 -$2.500 -3.61%
Crude prices fell drastically to a 5-week low during today’s session as a disappointing US Non-Farm Payroll report hinted towards a continuation in weak crude demand. [...]
European Stocks Plummet as US Unemployment Data Dampens Recovery Outlook
European Markets started the month strong with roughly a two percent rally, but saw those gains erased after pessimistic data from the United States softened hopes for a recovery in the near-term. Indicators from the UK and the EZ indicate a moderating of the recession.
S&P 500 May Look To Extend Gains From Golden Cross Over Medium Term
The Dow broke above resistance at the 200-Day SMA at 849 which casts some doubt on our contention that a head & shoulder’s pattern is forming. 8,250 is the key level, a break below there could lead to a test of 7,962 -38.2% Fibo of 6,470-8,877.
Asian Stock Markets Slump Ahead of U.S. Job Report With Commodity Prices Falling Further
Asia Session Key Developments
Crude oil prices slip to $67/bbl
Japan’s Economy and Fiscal Policy Minister continues to see risks for deflation
Stocks in Asia/Pacific traded slightly lower on Wednesday, with the Hang Seng dropping 200.68 points on the back of lower commodity prices. Meanwhile, the new Economy and Fiscal Policy Minister of Japan [...]
European Stocks Advance But Overall Positioning Little Changed
FTSE 100
Long-Term Technical Outlook
I wrote last update that “the FTSE is at risk of at least a pullback if not an outright reversal as daily RSI has rolled over from overbought territory.” The implications from the above count suggest a drop beneath the March low in order to complete 5 waves down from the 2007 [...]

