Wednesday, 29 April 2015

1pm update - moderate weakness

US equities remain weak with the sp' -13pts @ 2101, and it remains a case of no significant downside. USD remains broadly weak, -1.2%... but susceptible to latter day (post FOMC) strength. Metals remain a touch weak, Gold -$2. Oil continues to build gains, +3.8%.


sp'60min



USO'60min


Summary

Oil is notably strong, with the latest EIA report pleasing traders that perhaps draw downs are coming in May/June.

*Having exited USO-long at $20.08.. I'm content to just watch for the rest of today.
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FOMC is due at 2pm.... I'd expect some moderate market swings.. but broadly.. we look set to recover higher into the close.

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notable weakness: TWTR -5.5% in the $39s
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time for lunch :)