Friday, 1 April 2016

Pre-Market Brief

Good morning. US equity futures (ahead of the jobs data) are moderately lower, sp -7pts, we're set to open at 2052. USD remains weak, -0.1% in the DXY 94.40s. Oil is -1.5% in the $37s on Saudi chatter about 'no oil deal unless Iran also freezes'.




*awaiting the jobs data at 8.30am

The technical setup favours the equity bears today. Hourly charts offer sp'2040/35, with VIX 15s. Clearly, that is nothing particularly exciting, but its better than trading >2081.

The market is due a retrace, and today would make for a valid excuse, regardless of what the actual jobs number might turn out to be.

notable early mover: TSLA +6% @ $245.. as a new model is released.

Final update from Mr C.


Now here is a product I can issue a BUY recommendation on...

Bullish water. HBW is listed on the .GoT exchange in Iceland.

Overnight action

Japan: -3.5% @ 16164
China: latter day recovery (PBOC ?), +0.2% @ 3009
Germany: currently -2.0% @ 9766.... the 10K threshold is starting to fade away.

Have a good Friday.

8.31am.  Net jobs gains: 215k,   headline rate: 5.0%.

sp  -5pts... 2053

Overall, the number could be considered 'goldilocks'... but the market chatter will likely increase about a rate hike... and that will be a downward pressure on equities.. at least in the short term.

8.52am.. sp -10pts.... 2049.

notable weakness... Gold -$12....    miners.. GDX -2.1%.

Hmm.... bearish start to the month :)

9.05am... sp -13pts... 2046... .  oh noes.....  is it time for QE4 yet?