Jolts Job Openings and Commodity Intraday Tips

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Information about Jolts Job Openings and Commodity Intraday Tips
Business-Finance

Published on March 11, 2014

Author: Sreelu42

Source: authorstream.com

PowerPoint Presentation: Jo l ts J ob O p e n i n gs and C o m m odity Int r aday Ti p s Cr ud e Oil p ri c es c o n ti nu ed to fa l l f o r the la rg er p a r t o f the d ay, the ma r ke t s lac k ed a n y fresh d ata f r o m the ma j o r g lo b al eq u ities a s there was n o major e c o n o m y o r p o l i cy rela t ed cues. We d o n o t ex p e ct a n y ma j o r cues t o d ay either. In o ther im p o rta n t upd ates f o r the c o mm o d ity, the US EIA in its w e e kly r epo r t mi gh t sh o w cr ud e st o cks p ro b a b ly i n crea s e b y 1. 8 5 m i l l i o n b ar r els for the w e e k en d ed 07 M a rc h . Cr u d e related cues c o n ti nu e t o p r ess US o il pr i ces as t h e ma r kets mi gh t also l o o k for a n y fresh de v el o p men t s in the e u r o -z o n e. Tho ug h c o n cerns o f o u tri g h t war b et w een Ukrai n e a n d Russ i a h ave rece d ed, t h e p ro b le m s h ave n o t res o l ved c o m p l ete l y. Cr i m ea, which is d o mi n a t ed b y p e o p le o f Russ i an o ri g i n , h as b ecome a p o i n t o f c o n te n ti o n l a tely. Ac c o r d i n g to a Bl oo m b erg upd at e , R u ssian tr o o p s d e tai n ed U kr ai n ian b o r d er gu ar d s in Cr i mea as t h e reg i o n p rep a res for a Ma r ch 16 re f ere n du m o n joi n i n g Russ i a. In case the afo r e ment i o n ed iss u es escal a te, we c o u ld s ee s o m e su p p o rt f o r cr ud e o il p rices b o th at the US a n d Brent, which at t h e least mi gh t p r o t e ct t h e c om m o d i t y f r o m fall in g furt h er. C u rre n tly h o w e ver, the si t u ation c o n ti nu es t o b e n o r mal. The b a c kwar d at i o n b et w een the Cr u d e A p ril a n d May c o n tra c ts at t h e N Y M EX sta y ed n ear the 50 c ent mark, t h o ug h we saw the Mar a n d A p ril c o n tra c t c o n ti nu o i n c r ea s e to Rs 13. We h a ve a bu yi n g re c o mm en d ation f o r the sp r ead l o cal l y o n a h o l d i n g b asis. We feel it w i ll f u rther en h a n ce to Rs 25 in the c o mi n g se s sio n s. N e vert h eless, g ai n s mi g h t b e lost if i n ter n a ti o n al cr ud e p rices s tart ris in g du e t o a n y u n ex p e c ted d e ve l o p ments in Ukrai n e a n d a su rp ris ing ly p o siti v e i n ve n t o ry re p o rt in the U S . O ver a ll tho ugh , we c o n ti nu e t o h o ld a b earish stance o n the c o mm o d ity a n d r e c o m mend selli n g o n pu l lb a cks f o r s mal l er t ar g ets. T h e r up ee’s a pp r e ciation is al s o ex p ec t ed t o furt h er aid t h e sel l i n g bi a s in t h e l o cal m a rkets Glo b al m ark e t a n alysi s : U S eq u ities c l o sed mar g i n a l l y l o wer o v ern igh t. H o we ver As i an eq u it i es are tra d i n g h i gh er led b y J a p a n ese cues a f ter t h e Ba n k o f J a p an which in its m o n etary p o l i c y , stuck to i ts stand o f mai n tai n i n g the easy m o n eta r y p o l i c y a h ead o f the sales tax h ikes wh i ch c o m es i n to eff e ct in the m o n th o f A p ri l . F r o m t h e cu r rency sp a c e the d o l l ar i n d ex is tra d i n g mar g i n al l y h i gh e r at 79 . 78, whi l e the e u r o is tra d i n g m ar g i n a l l y l o wer a g ai n st t h e d o l l ar at $ 1. 3 8 7 0. C o mi n g to cr ud e o i l , p ri c e s tra d ed d o wn a n d se t tled at $ 1 01 . 12 whi l e th i s m o r n i n g it is s e en tra d i n g stea d y. We b el i e v e o il p ri c es m a y c o n ti nu e to tra d e d o wn a mid spec u l a ti o n th a t cr ud e s t o ckpi l es ro s e in the U S . Meanwh i l e, Brent o il p rices al s o tra d ed d ow n after the C h i n ese d ata s h o wed e xpor t s nu m b er d ecli n ed sh a r p ly. We b el i e v e t h e we a kness m ay r e m ain o n t o d ay ’ s tra d e h o w e v e r, los s es m a y b e mi n imal. We re com mend s ell in g cr ud e o il f r o m h i gh e r le v els. F r o m the e c o n o m i c d ata f r o n t, w e h a v e a few im p o rta n t nu m b ers in the fo r m o f Ge r man tra d e b al an ce, UK i n du strial p ro du cti o n a n d from t h e US whole pr i ce i n d e x. C o mm od i t y I n tr a d a y Ti p s SELL C RU D E O I L MCX MAR N EAR 6 2 0 0 SL 6 2 6 0 T G T 6 1 40 SELL REF SOYA OIL NCD E X APR B E L O W 73 9.9 S L 7 43 . 5 TGT 7 3 5.5 T od a y E c ono m i c D a ta I n d i c a t o r s : DA T E TIME Region Indic a t or Pe r i o d Su r vey Pr i o r 12. 0 3. 1 4 1 2 : 3 0 JN Mac h i n e T o o l Or d ers Y o Y Feb P --- 40. 3 % 12. 0 3. 1 4 1 2 : 3 0 GE La b o r C o s ts SA Q o Q 4Q -- - 03% 12. 0 3. 1 4 1 2 : 3 0 GE Tra d e Ba l a n c e J an 15. 0 B 14. 2 B 12. 0 3. 1 4 1 2 : 3 0 GE Expor t s SA M o M J an 1.4% - 0.9% 12. 0 3. 1 4 1 2 : 3 0 GE Im p o r t s SA M o M J an 1.3% - 0.6% 12. 0 3. 1 4 1 5 : 0 0 GE C u rre n t Ac c o un t Ba l a n c e J an 16. 0 B 23. 5 B 12. 0 3. 1 4 1 5 : 0 0 UK I n du strial P r o du cti o n M o M J an 0.2% 0.4% 12. 0 3. 1 4 1 9 : 3 0 US N F I B Small Busi n e s s O p t i m i sm Feb -- 94.1 12. 0 3. 1 4 1 9 : 3 0 US J OLTs J o b O p en ing s J an --- 3 9 90 . 0 12. 0 3. 1 4 1 9 : 3 0 US Whole s ale I n v en t o ries Mo M J an 0.5% 0.3%

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