The markets finished the week in an optimistic frame of mind on Friday as news that 227,000 jobs were created in America. The USD strengthened across the board. All eyes will be on the FOMC Meeting on Wednesday and their statement will be scrutinised for any acknowledgement of the recent improvement in US data. America moved their clocks forward at the weekend and we are only four hours ahead for the next two weeks so all economic data will be announced one hour earlier and the US Stock Markets will close at 8pm GMT.
S&P 500
June is now the front month for the S&P and is a six point discount to cash. The S&P cash market closed over 1370 and is on a short term buy signal. I am long the market looking for a test of 1390/1400 with a 1360 stop in the June contract.
Euro
The Euro fell nicely after the strong Jobs report and I have taken profit here as 1.3100 is strong support.
Dax
The Dax closed over my 6850 level and I want to be long here, with a stop just below 6850, looking for a test of 7000.
Crude Oil
Crude just missed my 106.10 buy level with a low if 106.15 and then rebounded nicely to 108. We are still in a 106/108 range and I will buy on any dip near Fridays low.
Gold
Gold dipped into my buy area and then rallied 30 dollars. I am flat here and I will sell at 1730 and buy at 1685.
Bund
No change from Friday’s update.
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