Market Weekly Update 5/5-9/5
NSFX | May 07, 2014 03:32AM ET
Good morning,
US equities had a positive week and the S&P500 closed at 1,872.50 (+0.67% weekly), up 12.50 points and Nasdaq gained 45.25 points at 3,575.75 (+1.28% weekly). The Dow Jones Industrial Average rose 124 points at 16,448 (+0.76% weekly). Positive performance however did not lift gauges above resistances that links lower highs. This technical observation is valid also for most European and Asian indices. US earnings had a weight in risk taking positions on equities and Non Farm Payroll data released last Friday at 288K was above the 218k expected. The data could be misleading because the number of people that are in the US labour market is decreasing.
In the FX market the Greenback weakness was the main trading strategy and the US dollar lost 39 pips against the shared currency and EurUsd closed on Friday at 1.3872 (+0.28% weekly). GbpUsd rose 81 pips at 1.6876 (+0.48% weekly) and both Kiwi dollar and Aussie dollar rose against the US dollar. NzdUsd gained 83 pips at 0.8660 (+0.97% weekly) and AudUsd rose 13 pips at 0.9277 (+0.14% weekly). The Loonie dollar also rose 63 pips against the Greenback and UsdCad closed at 1.0975 (-0.57% weekly). The rate where the US dollar gained just 3 pips is UsdJpy at 102.21 (+0.03% weekly). UsdChf lost 33 pips at 0.8780 (-0.37% weekly).
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