Morning Call by Traders University

Yesterday the FTSE closed up 46 points at 4,411. During the morning session the index fell heavily, and then rallied for the final 2 hours following the higher than expected consumer confidence figures. The Dow closed up 196 points at 8,437 following a rise in USD consumer confidence, expected at 42.7, with the actual number at 54.9. During the early hours of the morning, Japan’s trade balance figures showed that Japan’s exports fell at a slower pace in April, adding signs that the country’s worst recession since World War II may be easing, while New Zealand’s NBNZ Business Confidence survey suggested that confidence is slowly rising. The most significant news out today is USD existing home sales at 3pm, annualised figures of residential buildings sold during the previous month, excluding new construction. This is expected at 4.65M, previously 4.57M. In the early hours of Thursday morning, we see Australia’s private capital expenditure q/q, previously 6.0%, expected at -5.5%, and New Zealand’s budget release at 3:00am.