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European stock markets dropped due to tensions between Russia and Ukraine.

Neste Oil shares – the Finnish oil refiner – were down 5.1%. The company’s first quarter revenue missed forecast.

Electrolux - the world’s second-biggest maker of home appliances – jumped 11.0% caused by the better-than-expected first quarter earnings.

Renault SA shares declined 2.5% after reporting the decline in first-quarter earnings.

Alstom shares were suspended from trading in Paris. The French stock market authority AMF demanded an explanation from Alstom. Alstom share were up about 10% in yesterday’s trading because of the rumours that General Electric Co. wants to buy Alstom.

Name                                   Price                                    Change                 Change %

FTSE 100                              6,685.69                              -17.31                     -0.26% 

DAX                                       9,401.55                              -147.13                   -0.58%

CAC 40                                  4,443.63                              -35.91                    -1.54%

The U.S. dollar traded lower despite the better-than-expected U.S. consumer confidence. The Reuters/Michigan Consumer Sentiment Index increased to 84.1 in April from 82.6 in March. Analysts forecasted 83.2. Services PMI declined to 54.2 in April from 55.3 in March. The projected figure was 56.2. Investors were cautious due to tensions between Russia and Ukraine.

The euro climbed against the U.S. dollar. There was no publication of economic data in the Eurozone.

The British pound was up the U.S. dollar but later lost a part of its gains. The British currency was supported by the better-than-expected retail sales. Retail sales increased 0.1% in March. Analysts forecasted the fall of 0.4%. But the mortgage approvals dropped to 45,900 in March. The projected figure was 48,900. The mortgage approvals in February were revised down to 47,200 from 47,600.

The Japanese yen traded higher against the U.S. dollar due to the demand for safe-haven currency. Japan’s inflation data was published today. Tokyo Consumer Price Index rose 1.3% in April. It is the same increase as in the previous month. Tokyo CPI excluding fresh food climbed 2.7% in April from 1.0% in March. The rise of CPI did not meet the expectations. Analysts forecasted the increase of 2.7%.

Stock markets in Australia and New Zealand were closed for the public holiday.

Oil prices fell moderately today, but remained near seven-week highs , as tensions between Ukraine and Russia intensified. Given this situation , U.S. Secretary of State John Kerry said Washington is close to new sanctions against Moscow. Investors worry that tougher sanctions may affect oil and gas flows to Europe.

Meanwhile, experts say that WTI quotes fall in accumulation of significant oil reserves in the United States . Demand growth is not observed, and the overall picture shows the weakness of the oil market in the United States . Recall that U.S. crude inventories rose in the last week by 3.52 million barrels - to a maximum of 1931 397 700 000 barrels. Demand for oil dropped by 361 thousand barrels per day - up to 18.1 million barrels per day , the minimum since last July .

News from Libya , however , support the price of oil. In the present report said today that oil ports may remain closed longer than expected .

A rebel group in the east of the country , who blocked several ports , said Thursday that they will not open terminals of Ras Lanuf and Es Sider , if the government does not implement its part of the deal.

June futures on U.S. light crude oil WTI (Light Sweet Crude Oil) fell to $ 100.73 a barrel on the New York Mercantile Exchange (NYMEX).

June futures price for North Sea Brent crude oil mixture fell 98 cents to $ 109.50 a barrel on the London exchange ICE Futures Europe.

Gold prices rose almost one percent , breaking the $ 1,300 level , after yesterday's fall to its lowest level for the last 2.5 months . Price hike came amid escalation of the situation in Ukraine , which increased investor demand for safe assets .

Tension escalated after it became known that the Ukrainian forces killed five insurgents in the pro-Moscow Thursday. Russian Defense Minister Sergei Shoigu said yesterday that Russia was forced to react to the situation and announced the beginning of the exercise groups battalion southern and western military districts.

Meanwhile, U.S. Secretary of State John Kerry said Washington is close to new sanctions against Moscow.

"I do not expect to de-escalate the situation in the coming days it could get worse . This will reduce the pressure on gold and precious metal buying support as a reliable asset " - the analyst believes Kitco.com Jim Wyckoff .

However, the precious metal remains in a fragile position as the interest of long-term investors are still missing , analysts say.

Also had little impact on the U.S. data presented Thomson-Reuters and the Michigan Institute . They showed that in April, American consumers feel more optimistic about the economy than was recorded in the last month. According to the data , in April the final index of consumer sentiment rose to 84.1 compared with a final reading for March at 80.0 , and the initial estimate for April at around 82.6 . It is worth noting that according to the average estimates of experts , the index had to grow compared with the March value to reach 83.2 .

Investors are now awaiting the next meeting of the Federal Reserve System , which will be held next week. According to the median forecast of economists , April 30 policy of the Fed decide to re-cut quantitative easing program by 10 billion to $ 45 billion dollars a month. It is expected that the pace American Central Bank will complete its stimulus program by October this year.

Premiums for gold bullion were largely unchanged in Asia this week , as the depreciation of the yuan curbed demand from Chinese buyers. Margins on gold bars in Hong Kong is $ 0.80-1.00 per ounce to the price in London and Singapore - $ 1-1,20 , approximately at the level of last week.

June futures on COMEX gold rose to $ 1302.00 .

USD/JPY 101.00, 101.50, 102.00, 102.15, 102.55-65, 102.70, 103.00, 103.10,

EUR/USD 1.3775 1.3800

GBP/USD 1.6600

AUD/USD 0.9280 0.9300 0.9335

USD/CAD 1.0900 1.0915 1.0930 1.0940 1.0950 1.0965 1.1000 1.1095 1.1100

AUD/JPY 95.00

EUR/GBP 0.8300

U.S. stock futures fell as tension escalated over Ukraine. Investors weighted earning results Visa Inc. (V), Starbucks Corporation (SBAX), Microsoft (MSFT), Amazon.com, Inc. (AMZN) and Ford Motor (F).

Global markets:

Nikkei 14,429.26 +24.27 +0.17%

Hang Seng 22,223.53 -339.27 -1.50%

Shanghai Composite 2,036.52 -20.51 -1.00%

FTSE 6,689.93 -13.07 -0.19%

CAC 4,460.93 -18.61 -0.42%

DAX 9,459.46 -89.22 -0.93%

Crude oil $101.66 (-0.28%)

Gold $1301.80 (+0.86%)

(company / ticker / price / change, % / volume)

Upgrades:

Wells Fargo (WFC) upgraded to Outperform from Mkt Perform at BMO Capital Mkts; target raised to $55 from $53

Downgrades:

Amazon.com (AMZN) downgraded to Outperform from Strong Buy at Raymond James

Other:

Oppenheimer reiterated Microsoft (MSFT) at Outperform, target raised from $38 to $45

RBC Capital Mkts reiterated Visa (V) at Outperform target lowered to $263 rom $250

Economic calendar:

04:30    Japan                    All Industry Activity Index, m/m            February             +1.0%  -0.5%    -1.1%

08:00    Switzerland            SNB Chairman Jordan Speaks                                                

08:30    United Kingdom      Retail Sales (MoM)                                March                 +1.7%  -0.4%    +0.1%

08:30    United Kingdom      Retail Sales (YoY)                                 March                 +3.7%  +3.8%   +4.2%

08:30    United Kingdom      BBA Mortgage Approvals                      March                  47.6      48.9       45.9

The euro increased against the U.S. dollar but lost its gains. There are no economic data to be published in the Eurozone.

The U.S. dollar traded lower against the most major currencies ahead the publication of Reuters/Michigan Consumer Sentiment Index. Analysts forecasted the increase to 83.2 in April from 82.6 in March.

The British pound was up the U.S. dollar. The British currency was supported by the better-than-expected retail sales. Retail sales increased 0.1% in March. Analysts forecasted the fall of 0.4%. But the mortgage approvals dropped to 45,900 in March. The projected figure was 48,900. The mortgage approvals in February were revised down to 47,200 from 47,600.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair declined to Y101.95

The most important news that are expected (GMT0):

13:43    U.S.                       Services PMI (Preliminary)                                                     April      55.3      56.2     

13:55    U.S.                       Reuters/Michigan Consumer Sentiment Index (Finally)           April      82.6      83.2

EUR/USD

Offers  $1.3950, $1.3930, $1.3900, $1.3880-85, $1.3860/65

Bids $1.3800, $1.3785/75, $1.3765/60

GBP/USD

Offers  $1.6900, $1.6870/80, $1.6840/50

Bids  $1.6765-60, $1.6750/45, $1.6680

AUD/USD

Offers $0.9395/00, $0.9350,  $0.9305/10

Bids $0.9250, $0.9220, $0.9200, $0.9155/50

EUR/JPY

Offers  Y142.80, Y142.50, Y142.00

Bids  Y141.00, Y140.50

USD/JPY

Offers  Y102.95/00, Y102.65/70, Y102.50

Bids Y102.10/00, Y101.85/80, Y101.50

EUR/GBP

Offers  stg0.8250

Bids stg0.8190-80, stg0.8150

European stocks dropped as concerns over the escalation of tensions between Russia and Ukraine are increasing. U.S. Secretary of State John Kerry warned Moscow to to imposing more sanctions.

Neste Oil shares – the Finnish oil refiner – were down 6%. The company’s first quarter revenue missed forecast.

Electrolux - the world’s second-biggest maker of home appliances – jumped 9.5% caused by the better-than-expected first quarter earnings.

Alstom shares were suspended from trading in Paris. The French stock market authority AMF demanded an explanation from Alstom. Alstom share were up about 10% in yesterday’s trading because of the rumours that General Electric Co. wants to buy Alstom.

Current figures:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,682.2                              -20.80                     -0.31% 

DAX                                      9,441.26                           -107.42                     -1.12%

CAC 40                                 4,462.92                             -16.62                     -0.37%

Asian stock markets showed a mixed trend. Tensions between Russia and Ukraine influenced negatively the stock markets. The Japanese index Nikkei 225 traded higher because of the weaker yen. Tokyo CPI excluding fresh food climbed 2.7% in April from 1.0% in March. The rise of CPI did not meet the expectations. Analysts forecasted the increase of 2.7%. National Consumer Price Index improved from the previous month. The index climbed 1.6% in March (February: 1.5%). National CPI excluding fresh food did not meet the expectations. The index was up 1.3%, expected the rise of 1.4%.

Indexes on the close:

Nikkei 225                    14,429.26      +24.27      +0.17%

Hang Seng                   22,223.53     -339.27     -1.50%

Shanghai Composite    2,036.52       -20.51        -1.00%

USD/JPY 101.00, 101.50, 102.00, 102.15, 102.55-65, 102.70, 103.00, 103.10,

EUR/USD 1.3775 1.3800

GBP/USD 1.6600

AUD/USD 0.9280 0.9300 0.9335

USD/CAD 1.0900 1.0915 1.0930 1.0940 1.0950 1.0965 1.1000 1.1095 1.1100

AUD/JPY 95.00

EUR/GBP 0.8300

Economic calendar (GMT0):

04:30    Japan                    All Industry Activity Index, m/m            February             +1.0%  -0.5%    -1.1%

08:00    Switzerland            SNB Chairman Jordan Speaks                                                 

08:30    United Kingdom      Retail Sales (MoM)                                March                 +1.7%  -0.4%    +0.1%

08:30    United Kingdom      Retail Sales (YoY)                                 March                 +3.7%  +3.8%   +4.2%

08:30    United Kingdom      BBA Mortgage Approvals                      March                  47.6      48.9       45.9

The U.S. dollar declined against the most major currencies. Tensions between Russia and Ukraine have a negative influence. Investors are concerned that an escalation of the Ukraine crisis is imminent. They also concerned the USA will be increasingly involved in the Ukraine crisis and that will burden the U.S. economy

Stock markets in Australia and New Zealand were closed for the public holiday. There were no significant price movements.

The Japanese yen traded lower against the U.S. dollar after the inflation data publication. Tokyo Consumer Price Index rose 1.3% in April. It is the same increase as in the previous month. Tokyo CPI excluding fresh food climbed 2.7% in April from 1.0% in March. The rise of CPI did not meet the expectations. Analysts forecasted the increase of 2.7%.

National Consumer Price Index improved from the previous month. The index climbed 1.6% in March (February: 1.5%). National CPI excluding fresh food did not meet the expectations. The index was up 1.3%, expected the rise of 1.4%.

Investors think that the Japan’s inflation will decline later this year. If it actually happens, the Bank of Japan could trigger new easing action. But the Bank of Japan Governor Haruhiko Kuroda is convinced Japan’s inflation is on a path to reach the target of 2.0%.

EUR/USD: the currency pair climbed to $1.3835

GBP/USD: the currency pair was up to $1.6810

USD/JPY: the currency pair rose to Y102.50

The most important news that are expected (GMT0):

13:43    U.S.                       Services PMI (Preliminary)                                                     April      55.3      56.2      

13:55    U.S.                       Reuters/Michigan Consumer Sentiment Index (Finally)           April      82.6      83.2

Tokyo Consumer Price Index rose 1.3% in April. It is the same increase as in the previous month. Tokyo CPI excluding fresh food climbed 2.7% in April from 1.0% in March. The rise of CPI did not meet the expectations. Analysts forecasted the increase of 2.7%.

National Consumer Price Index improved from the previous month. The index climbed 1.6% in March (February: 1.5%). National CPI excluding fresh food did not meet the expectations. The index was up 1.3%, expected the rise of 1.4%.

Investors think that the Japan’s inflation will decline later this year. If it actually happens, the Bank of Japan could trigger new easing action. But the Bank of Japan Governor Haruhiko Kuroda is convinced Japan’s inflation is on a path to reach the target of 2.0%.

EUR / USD

Resistance levels (open interest**, contracts)

$1.3900 (2152)

$1.3876 (1543)

$1.3858 (1152)

Price at time of writing this review: $ 1.3831

Support levels (open interest**, contracts):

$1.3813 (63)

$1.3792 (337)

$1.3773 (1494)

Comments:

- Overall open interest on the CALL options with the expiration date May, 9 is 25859  contracts, with the maximum number of contracts with strike price $1,4000 (2753);

- Overall open interest on the PUT optionswith the expiration date May, 9 is 32524 contracts, with the maximum number of contractswith strike price $1,3600 (3815);

- The ratio of PUT/CALL was 1.26 versus 1.24 from the previous trading day according to data from April, 24.

GBP/USD

Resistance levels (open interest**, contracts)

$1.7100 (1264)

$1.7001 (1268)

$1.6902 (1612)

Price at time of writing this review: $1.6805

Support levels (open interest**, contracts):

$1.6697 (780)

$1.6599 (1327)

$1.6500 (1228)

Comments:

- Overall open interest on the CALL options with the expiration date May, 9 is 16866 contracts, with the maximum number of contracts with strike price $1,6800 (1701);

- Overall open interest on the PUT optionswith the expiration date May, 9 is 19357 contracts, with the maximum number of contracts with strike price $1,6200 (1870);

- Theratio of PUT/CALLwas 1.15 versus 1.15 from the previous trading day according to data from April, 24.

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.