May the 4th be with you.
- This week is likely to be one of the busiest trading weeks for 2015 due to the sheer amount on data, company releases and central bank statements, both here and overseas.
- There was solid bounce in US equities on Friday night is likely to flow through to Asia this morning. There was no trade in Europe on Friday for May Day holiday and London is closed tonight for the same holiday.
- After a harsh winter brought U.S. growth almost to a halt in the first three months of 2015, April’s non-farm payrolls report, due on Friday, will signal whether the world’s largest economy is faring any better in the second quarter.
- MONSANTO: has approached SYNGENTA about a takeover, almost a year after a previous attempt fell apart, according to people familiar with the matter.
- TESLA: unveiled a line of home and industrial battery packs late Thursday, “power wall” batteries—ranging from a $3,000 7 kilowatt-hour wall-mounted unit to a $3,500 10 kwh unit—cost far less than the going rate for large-scale batteries and can be easier to install. Tesla aims to begin delivering units by the summer from its car factory in California.
DOW: +1.03%, S&P500: +1.09% and NASDAQ: -+1.29%
- The AUD has moved well away from 80 cents on the back of the article and it’s very likely that the Statement of Monetary Policy on Friday will fill in the details as to why the RBA moved rates and if there could be more cuts to come – another argument over semantics could be had here. The AUD is going to move very quickly this week.
- With the volume of data, the company and Reserve bank announcements, there will be some big moves in the currencies this week. Above is the US Dollar Index chart that tracks the strength of the USD against a basket of other major currencies. The current holding and respecting of the 95.00 level and 100 day moving average may be a sign of the USD re-strengthening after the past three weeks of weakness. Look to take up long USD positions on the back of recent weakness.
Pilkington Trading 