After Disappointing housing data and
Caterpillar’s revised outlook for 2013 market took a deep but didn’t sustain
on lower side as it was influenced by
Reports that finance ministers from the Group
of 20 major economies approved of Bank of Japan's plan to expand monetary
stimulus. Japan's recent actions are "intended to stop deflation and
support domestic demand," the G20 said. Although Yen was unable to cross
100 mark against Usd apparently our call for selling Usd/Jpy was very positive.
Probably it’s make or
break for Apple stock after 1Q earnings today though technically Apple is
strong buy around 380/85 and we might see buy back call any time soon.
On commodity corner commodities
are ready to take deep again as Chinese factory data disappoints. The preliminary or “flash” version of HSBC’s manufacturing Purchasing
Managers’ Index fell to a two-month low of 50.5 from March’s final reading of
51.6, and below a Bloomberg forecast of 51.5. The data followed similarly
disappointing results out the previous week for China’s
first-quarter gross domestic product — growth for which slowed to 7.7% from the
prior quarter’s 7.9% — and March industrial production., May Copper again
flirting last week’s multi month low.
Our Call for selling
Usd/Jpy and Crude oil was very positive though both did not achieved target but
expected to achieve today.
Following are trade
calls for today,
- Buy Aud/Usd at 1.0190 stop below 1.0140 target 1.0260
- Buy Gold at 1421/22 stop below 1414 target 1442/53
- Sell Dax(German 30) at 7510 stop above 7565 target 7440/20
For more info visit : www.cfb.ae
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