Live Crude & Gold 15 minute & Daily Charts

Today's Economic timetable

Upcoming UK Ex-Dividend Dates

Reuters

Bloomberg Top Headlines

Marketwatch

The Wall Street Journal

The New York Times

Global Markets

Asian Markets News

South China Morning Post

Japan Times

Business Standard

China Daily

Moscow Times






FTSE / DOW YTD

Morning!

In the US last night, the Dow finished down 14.24 at 18,529.29 the Nasdaq down 7.98 at 5,213.14 and the S&P 500 down 1.98 at 2,180.89.

In Asia, the Nikkei was recently up 105.55 points at 16,753.24 - the Hang Seng down 37.84 at 22,456.92.

WTI crude oil traded at $43.02 a barrel and Brent at $45.39.

Gold settled at $1,333.40 an ounce.

Trade well and prosper!

The Papers

Good morning!

Guardian Stock Brokers

INDICES
FTSE 100

The FTSE is rallying once more this morning, after a pullback following yesterday’s break higher. Today’s price action has found support on the July 2015 peak of 6808, with another leg higher seeming likely. From here. Clearly the next resistance to contend with is yesterday’s high of 6829. However, it is clear that we are seeing a relatively gradual trend higher and as such, the continued creation of higher highs and higher lows are expected. As such, as long as price remains above 6803 and in particular 6782, a bullish outlook remains for a push towards 6829 and 6870.


DAX

The DAX pulled back sharply from the 10481 resistance level yesterday, with the index posting a low of 10407. Interestingly, this morning has seen another pullback to that level, with price holding up to push higher once more. Essentially, the next step will be defined by the breakout from this 10481-10407 zone, with an hourly close above or below setting the bias. Clearly given the recent uptrend, there is reason to believe any such break will occur to the upside. However, given that 10481 has marked a turning point for the market on three occasions now, it makes sense to await the break first.


S&P 500

The S&P 500 pulled back sharply following a brief foray into fresh territory yesterday. Interestingly, this morning’s bounce has been shortlived, with an hourly close below 2177 marking a bearish shift in sentiment given the failure to create a higher high. As such, 2177 will be a pivotal level for the day, with the ability or inability to push through this likely to provide us with an idea of the next move.


FX
GBPUSD

Cable’s downward move has been helped along by fresh hints that more easing will be on the way from the Bank of England. As yesterday, we still wait to see if the pair can head back to $1.28, the lows from the beginning of July. Below here would still point towards the $1.25 level from the mid-1980s. A bounce has to get back above $1.31 and then head towards the August peak just below $1.34.


EURUSD

Yesterday saw the pair hover above the 200-day SMA ($1.1080), and now it looks to push lower, putting the $1.10 area in the frame as the next possible destination. The problem at present remains that economic data is relatively thin on the ground. Thus dollar strength from Friday’s NFPs is likely to remain the driving factor, potentially putting the uptrend for the year under threat.


AUDUSD

The pair does not look excessively overstretched to the upside, but it continues to falter around $0.7650. Buying dips has made sense for months here, so any weakness into the second half of August is to be welcomed. A break above $0.7650 would head towards the April high at $0.78.


COMMODITIES
Gold

Gold sold off sharply on Friday following the strong payrolls number. The break below $1349 pointed towards a wider deterioration, with the 76.4% retracement at $1324 of particular interest for longs to come back in once more. However, for now we are seeing price consolidate with support and resistance clearly defined at $1330-1338. Given the substantial bearish implications of breaking below the cluster of support between $1303-1311, it seems likely that the bulls will come back into play once more before we get to that level. As such, should we see an hourly close below $1330, it would look like a deeper retracement towards $1324 would be likely. However, whether that happens or not relies on the breakout from this range and as such, the outlook will be driven by a move from this period of consolidation.


Brent Crude

Brent has pulled back sharply following substantial gains yesterday. Crucially for the short term outlook, the ability to maintain price above $44.82 is key to continue on this recent uptrend. As such, the bullish outlook remains, with a more negative view taken should we see an hourly close below $44.82. Key resistance comes from yesterday’s high of $45.871 followed by $46.22.


US Crude

US crude is also showing signs of strength, with a trendline support providing the needed emphasis to push the market higher. We are clearly in a well-defined uptrend, with the tightening of price action meaning that a rising wedge is forming. Ultimately, we would need to see an hourly close below $41.44 to negate this uptrend and given that distance it will be difficult to pick out exactly where the bounce will come from. For this reason, the trendline could provide that support level, yet it is not a guaranteed. A push through the $43.40 mark could provide us with a bullish signal to say that this recent pullback is over.


Disclaimer

This research has been produced by an independent third party provider. Further details can be provided on request. Guardian Stockbrokers Limited is authorised and regulated by the Financial Conduct Authority (No. 492519). This report has been prepared using information available from public sources, which are believed to be reliable as at the date of this report. However, Guardian Stockbrokers, its employees and its independent third party provider make no representation as to the accuracy or completeness of this report. This report should therefore not be relied on as accurate or complete. The facts and opinions on this report are subject to change without notice. Guardian Stockbrokers, its employees and its independent third party provider have no obligation to modify or update this report in the event that any information on this report becomes inaccurate. This report is prepared for informational purpose only, with no recommendation or solicitation to buy or to sell. The background of any individual or other investor has not been considered in providing this report. Individuals and other investors should seek independent financial advice which considers their specific risks, objectives and specific constraints, and make their own informed decisions. Individuals and other investors should note that investing in shares carries a degree of risk and the value of investments can go up or down. Past performance is not a reliable indicator of future performance. Investments should be made with regard to an investor’s total portfolio. Guardian Stockbrokers, its independent third party provider and its employees make no representation or guarantee with regard to any investment noted on this report, and shall therefore not be liable with regard to any loss.

All trading involves risk and losses can exceed deposits.

Closing Market Summary