Daily Market Analysis for the 8th of April. Starting with an overview of some of the events from todays the Economic Calendar – In the early morning GMT – we see Retail sales data for Switzerland which might cause some volatility in the Franc. Later in the morning we have Industrial manufacturing data for the UK, which may cause some volatility in the GBP, and across the water in the United States the Private Measure for job openings data is released – many investors will have their eye on this report as its a good indicator of overall economic health. In the markets the S&P 500 continues to move on the downward side, it broke below 1800 an important support level, which erased all the gains it had made for the year so far. In the Asian markets we see a mixed result as Japanese markets moved downwards, while the Chinese market climbed upwards. In the currency market – The Euro continues to move higher after hitting bottom last week, so to does GBP, and we also see the Yen continuing to gain strength at the expense of the USD. In metals – Gold continues to move downward, however, RSI shows that it is still oversold and a correction may be imminent.
Posted on: Tue, 08 Apr 2014 13:34:33 +0000
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