Market Report: After the NFP, What else?

Good Morning,

The last Friday the US market received the good new of the unemployment rate and Nonfarm Payrolls (NFP). After that, all the markets traded in a big positive trend, very close from the “all time highs� levels again. But august is not the best month for the market and US equities finished slightly lower on Monday, it was a very quiet trading session, and we saw technical signs of weakness in the SP500, and maybe we are close to the time of correction.

On the other hand, Asian narrowly mixed in quiet Tuesday trade and the European equity markets are marginally higher. The Bank of England policymaker McCafferty said more quantitative easing was likely to be required if the U.K.’s economy decline worsens, and because of that, the GBP is clearly in down trend; the next point of support can be the 1.2910. And the FTSE 100 will rise further. Is important to remember, The Bank of England cut interest rates last week for the first time since 2009 and the pound lost more than -1% in one day.

The commodities are trading with volatility in the last days. Monday, the Oil Crude moved higher as settled +2.9%. Reports of informal OPEC talks in September provided support and stoked speculation regarding a production freeze deal. Qatar’s energy minister and OPEC president said that the cartel is always discussing ways to stabilize the market. He also stated that demand is expected strong in the second half of the year.

Gold prices slumped to a one-week low in European trade on Tuesday, amid growing expectations of a U.S. interest rate hike by the end of this year. A day earlier, gold shed $3.10, or 0.23%, after the latest U.S. employment report bolstered expectations of faster economic growth and revived speculation that the Federal Reserve will raise interest rates this year.

Barclays

The financial institution yesterday raised more than + 3%, they agreed to pay a $100 million settlement to 44 U.S. states after an investigation into manipulation of Libor. And today still up, but is probably a little correction of the price in the resistance of the 158.45.

Graphics by: www.etoro.com

Cisco Systems

Analysts have speculated that the San Jose, CA-based technology company may be a potential buyer of cyber and data security company Imperva. Other buyers are rumored to include Juniper Networks and IBM. Additionally, Cisco is expected report second quarter earnings and revenue next week. So is very important to pay attention to this company in the next days.

We can see in the chart a very strong resistance in the level of the 31.13 usd, and the support point daily is in 30.87 usd.