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European stocks climbed ahead the publication of Eurozone’s inflation report on Wednesday. Stock markets were supported by the better-than-expected earnings reports. Market participants were unimpressed by the worse-than expected Spanish unemployment rate and German CPI.

Spain’s unemployment rate rose to 25.9% in the first quarter from 25.7% in the fourth quarter of 2013. The fourth quarter figure was revised down from 26.0%. Analysts forecasted the fall to 25.6%.

German CPI decreased 0.2% in April (March: +0.3%). Analysts forecasted the decline of 0.1%.

Nordea Bank AB shares jumped 3.5% due to its revenue increased 4.7% in the first quarter.

Statoil ASA was up 4.5% after beating its earnings forecast.

Nokia Oyj climbed 2.6 percent after naming a new chief executive officer.

PSA Peugeot Citroen dropped 1.6%.

ABB Ltd. shares - the world’s largest maker of power transformers - declined 7.1% after reporting the 18% fall of its first-quarter net income.

Indexes on the close:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,769.91                              +69.75                     +1.04%

DAX                                      9,584.12                              +137.76                   +1.46%

The euro traded dropped against the U.S. dollar due to the worse-than-expected German CPI. German CPI decreased 0.2% in April (March: +0.3%). Analysts forecasted the decline of 0.1%. The euro was also affected by the weak M3 money supply. M3 money supply in the Eurozone increased 1.1% in March (February: 1.3%). Analysts forecasted the rise of 1.4%.

The U.S. dollar traded mixed against the most major currencies. S&P/Case-Shiller home price index climbed at an annual rate of 12.9% in February. Analysts forecasted the rise of 13.0%. The growth in January was 13.2%. The U.S. consumer confidence declined to 82.3 in April. Analyst forecasted 82.9. March’s figure was revised up to 83.9 from 83.2.

The British pound traded mixed against the U.S. dollar. The UK economy is continuing to grow, but the growth was weaker than expected. The GDP was up 0.8% in the first quarter. The annual rate of growth increased to 3.1%. It is fastest rate of annual growth since the fourth quarter of 2007. The projected quarterly rate was 0.9% and an annual growth of 3.2%.

The Japanese yen dropped against the most major currency due to the falling demand for the safe-haven currency. Market participants are waiting for monetary policy statements by the Bank of Japan and the Federal Reserve on Wednesday.

The Canadian dollar climbed against most major currencies ahead the publication of economic data later in the week.

The New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low on Tuesday. But later, New Zealand’s currency recovered a part of its losses. The weaker-than-expected trade surplus and the better-than-expected U.S. pending home sales had a negative impact on the New Zealand’s currency. New Zealand's trade surplus increased to NZ$920 million in March. But the figure in February was revised down to NZ$793 million from NZ$818 million. The projected trade surplus was NZ$937 million.

The Australian dollar declined against the U.S. dollar due to the fall in iron-ore prices and due to the better-than-expected U.S. pending home sales. But later, Australia’s currency recovered a part of its losses.

West Texas Intermediate and Brent oil rose after the U.S. and European Union added to sanctions against Russia over the Ukraine crisis.

WTI climbed as much as 1.3 percent. The U.S. put seven more people on its sanctions list yesterday, including the head of OAO Rosneft, the state-run Russian oil company. Crude stockpiles at Cushing, Oklahoma, the delivery point for WTI, fell in 11 of the 12 weeks ended April 18, according to the Energy Information Administration. Data tomorrow will probably show nationwide crude supplies gained 1.1 million barrels to 398.8 million, based on the median response in a Bloomberg survey.

“We’re up on two factors today, the continuing crisis in Ukraine and speculation about the U.S. storage numbers,” said Bob Yawger, director of the futures division at Mizuho Securities USA Inc. in New York. “The focus of the market switches from the Cushing number to the national total. Cushing supplies are at the lowest level since 2009 already while total U.S. supply is approaching a massive 400 million barrels.”

WTI for June delivery advanced $1.11, or 1.1 percent, to $101.95 a barrel a 9:58 a.m. on the New York Mercantile Exchange. Trading was 5.3 percent above the 100-day average for the time of day.

Brent for June settlement climbed $1.02, or 0.9 percent, to $109.14 a barrel on the London-based ICE Futures Europe exchange. Trading was 2.7 percent above average. The European benchmark traded at a $7.19 premium to WTI, compared with $7.28 yesterday.

Gold prices rise on continued tensions in Ukraine and the new EU and U.S. sanctions against Russia .

Support for precious metals also had a weaker dollar after a report on consumer confidence in the United States . Data published by the Conference Board, showed that the preliminary index of consumer confidence fell slightly in April to a level of 82.3 points from 83.9 points in March ( final value ) . Economists were expecting the index to be 82.9 points. I also add that the index , which assesses the current situation , fell to 78.3 from 82.5 , while the expectations index remained virtually unchanged - 84.9 points, compared with 84.8 in March.

Meanwhile, from India - the world's second gold consumer after China - received news that may have a positive impact on the dynamics of the price of gold . Expects the All India Federation of Trade gems and jewelery (All India Gems & Jewellery Trade Federation), gold demand in the country will increase in connection with the religious festival of Akshaya Tritiya (Akshaya Trithiya), during which traditionally bought large quantities of gold . The festival will be held on Friday , May 2. However , analysts at Commerzbank expect the market to continue the current week sluggish dynamics as important data that could push prices up, come out only in the second half of the week . The first of these will be the results of the next meeting of the FOMC, which will be released on Wednesday . These are followed by PMI and ISM report U.S. Department of Labor .

June futures on COMEX gold rose to $ 1302.00 .

The Conference Board published the U.S. consumer confidence today. The consumer confidence declined to 82.3 in April. Analyst forecasted 82.9. March’s figure was revised up to 83.9 from 83.2.

Lynn Franco, Director of Economic Indicators at The Conference Board commented the current figures: “Consumer confidence declined slightly in April, as consumers assessed current business and labor market conditions less favorably than in March”

S&P/Case-Shiller home price index climbed at an annual rate of 12.9% in February. Analysts forecasted the rise of 13.0%. The growth in January was 13.2%.

David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, said that the annual rate "cooled the most we've seen in some time."

EUR/USD $1.3750, $1.3785

USD/JPY Y102.20/25, Y102.40/50, Y102.65, Y102.75, Y102.80, Y103.00, Y103.75

AUD/USD $0.9225, $0.9240, $0.9250, $0.9265/70, $0.9290, $0.9300, $0.9373

GBP/USD $1.6710

USD/CAD Cad1.0960, Cad1.1000, Cad1.1075/80, Cad1.1155

EUR/CAF Chf1.2100, Chf1.2190, Chf1.2275

EUR/GBP stg0.8250

U.S. stock futures rose after earning results from Merck & Co. topped estimates and the Federal Reserve begins a two-day policy meeting.

Global markets:

Hang Seng 22,453.89 +321.36 +1.45%

Shanghai Composite 2,020.34 +16.85 +0.84%

FTSE 6,748.95 +48.79 +0.73%

CAC 4,486.99 +26.46 +0.59%

DAX 9,558.18 +111.82 +1.18%

Crude oil $101.27 (+0.73%)

Gold $1297.80 (-0.16%)

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

Upgrades:

Hewlett-Packard Co (HPQ)  upgraded to Outperform from Sector Perform at Pacific Crest

Barrick Gold (ABX) upgraded to Neutral from Underweight at HSBC Securities, target raised to $18 from $17

Downgrades:

Other:

Coca-Cola (KO) initiated at Buy at Nomura

Walt Disney (DIS) reiterated at Outperform at FBR Capital, target raised to  $96 from $85

Economic calendar (GMT0):

06:00    Germany                            Gfk Consumer Confidence Survey         May            8.5         8.5          8.5

08:00    Eurozone                           M3 money supply, adjusted y/y            March        +1.3%  +1.4%   +1.1%

08:30    United Kingdom                  GDP, q/q (Preliminary)                         Quarter I    +0.7%  +0.9%   +0.8%

08:30    United Kingdom                  GDP, y/y (Preliminary)                         Quarter I     +2.7%  +3.2%   +3.1%

12:00    Germany                              CPI, m/m (Preliminary)                              April            +0.3%     -0.1%    -0.2%

12:00    Germany                              CPI, y/y (Preliminary)                                April             +1.0%    +1.3%   +1.1%

The euro traded mixed against the U.S. dollar. M3 money supply in the Eurozone increased 1.1% in March (February: 1.3%). Analysts forecasted the rise of 1.4%.

The U.S. dollar traded mixed against the most major currencies ahead the publication of S&P/Case-Shiller home price indices and U.S. consumer confidence figures.

The British pound traded mixed against the U.S. dollar. The UK economy is continuing to grow, but the growth was weaker than expected. The GDP was up 0.8% in the first quarter. The annual rate of growth increased to 3.1%. It is fastest rate of annual growth since the fourth quarter of 2007. The projected quarterly rate was 0.9% and an annual growth of 3.2%.

The Japanese yen dropped against the most major currency due to the falling demand for the safe-haven currency.

The Canadian dollar climbed against most major currencies.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair has reached Y102.78

USD/CAD: the currency pair has reached $1.0964

The most important news that are expected (GMT0):

13:00    U.S.                                   S&P/Case-Shiller Home Price Indices, y/y       March   +13.2% +12.9%

14:00    United Kingdom                 BOE Deputy Governor Andrew Bailey Speaks                                                

14:00    U.S.                                   Consumer confidence                                    April      82.3      82.9     

19:30    Canada                              BOC Gov Stephen Poloz Speaks                                                            

22:45    New Zealand                      Building Permits, m/m                                    March   -1.7%                 

23:05    United Kingdom                 Gfk Consumer Confidence                              April      -5           -4          

23:15    Japan                                Manufacturing PMI                                          April      53.9                    

23:50    Japan                                Industrial Production (MoM) (Preliminary)        March   -2.3%   +0.6% 

23:50    Japan                                Industrial Production (YoY) (Preliminary)         March   +7.0%

EUR/USD

Offers $1.3950, $1.3930, $1.3900, $1.3880-85

Bids $1.3835, $1.3815, $1.3800, $1.3785/75, $1.3765/60

GBP/USD

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

Bids $1.6775, $1.6765-60, $1.6750/45, $1.6680

AUD/USD

Offers $0.9395/00, $0.9350,  $0.9315/20, $0.9300, $0.9260

Bids $0.9220, $0.9200, $0.9155/50, $0.9100

EUR/JPY

Offers Y143.00, Y142.90/00, Y142.80, Y142.50

Bids Y141.55/65, Y141.00, Y140.40/50, Y139.95/00

USD/JPY

Offers Y103.40, Y102.95/00, Y102.70/80

Bids Y102.00, Y101.85/80, Y101.50, Y101.30, Y101.00

EUR/GBP

Offers stg0.8390/00, stg0.8330, stg0.8300/10, stg0.8280

Bids stg0.8215, stg0.8190/80, stg0.8150, stg0.8100

European stocks climbed due to the better-than-expected earnings reports. Market participants were unimpressed by the worse-than expected Spanish unemployment rate. Spain’s unemployment rate rose to 25.9% in the first quarter from 25.7% in the fourth quarter of 2013. The fourth quarter figure was revised down from 26.0%. Analysts forecasted the fall to 25.6%.

Nordea Bank AB shares jumped 3.2% due to its revenue increased 4.7% in the first quarter.

Statoil ASA was up 4.0% after beating its earnings forecast.

Nokia Oyj climbed 7.1 percent after naming a new chief executive officer.

PSA Peugeot Citroen dropped 5.57% after offering stock to investors at 6.77 euros a share.

ABB Ltd. shares - the world’s largest maker of power transformers - declined 6.9% after reporting the 18% fall of its first-quarter net income.

Current figures:

Name                                   Price                                    Change                 Change %

FTSE 100                              6,744.58                              +44.42                     +0.66%

DAX                                      9,555.4                              +109.04                     +1.15%

CAC 40                                 4,481.92                              +21.39                     +0.48%

Bank of England Governor Mark Carney said today:

- The U.K. economy recovery is starting to “broaden”;

- There are early signs of sustainable recovery;

- UK central bank sees longer-term growth;

- BoE sees plenty of slack in the labor market.

The Office of National Statistics published that the GDP was up 0.8% in the first quarter. The annual rate of growth increased to 3.1%. It is fastest rate of annual growth since the fourth quarter of 2007. The projected quarterly rate was 0.9% and an annual growth of 3.2%.

Bank of England Governor Mark Carney said today that the U.K. recovery is starting to “broaden” and there are early signs of sustainable recovery. Market participants are expecting the hike of interest rates in the next year.

The Office of National Statistics Chief Economist Joe Grice said that the economy is now only 0.6% below the pre-recession peak at the beginning of 2008. He added services are now 2% above the pre-recession peak but the production and construction sectors are still around 12% lower.

Asian stock markets showed a mixed trend. The Japanese stock market was closed for a public holiday. The Chinese stock indexes were up due to speculation that the government will take steps to boost the economy.

Indexes on the close:

Nikkei 225                    closed

Hang Seng                   22,453.89     + 321.36     +1.45%

Shanghai Composite    2,020.34       +16.85        +0.84%

Newcrest Mining dropped 3.1% caused by the price decline of the bullion.

Samsung Electronics declined 2% after reporting its weaker-than expected quarter results.

EUR/USD $1.3750, $1.3785

USD/JPY Y102.20/25, Y102.40/50, Y102.65, Y102.75, Y102.80, Y103.00, Y103.75

AUD/USD $0.9225, $0.9240, $0.9250, $0.9265/70, $0.9290, $0.9300, $0.9373

GBP/USD $1.6710

USD/CAD Cad1.0960, Cad1.1000, Cad1.1075/80, Cad1.1155

EUR/CAF Chf1.2100, Chf1.2190, Chf1.2275

EUR/GBP stg0.8250

06:00    Germany                            Gfk Consumer Confidence Survey         May            8.5         8.5          8.5

08:00    Eurozone                           M3 money supply, adjusted y/y            March        +1.3%  +1.4%   +1.1%

08:30    United Kingdom                  GDP, q/q (Preliminary)                         Quarter I    +0.7%  +0.9%   +0.8%

08:30    United Kingdom                  GDP, y/y (Preliminary)                         Quarter I     +2.7%  +3.2%   +3.1%

The U.S. dollar climbed against the most major currencies supported by Monday’s better-than-expected U.S. pending home sales. U.S. pending sales of existing homes climbed 3.4% in March from February. It is the first increase for the first time in nine months. Analysts forecasted the increase of 1.0%.

The New Zealand dollar was down against the U.S. dollar and has reached a three-and-a-half week low on Tuesday. The weaker-than-expected trade surplus and the better-than-expected U.S. pending home sales had a negative impact on the New Zealand’s currency. New Zealand's trade surplus increased to NZ$920 million in March. But the figure in February was revised down to NZ$793 million from NZ$818 million. The projected trade surplus was NZ$937 million.

The Australian dollar declined against the U.S. dollar due to the fall in iron-ore prices and due to the better-than-expected U.S. pending home sales.

The Japanese yen declined against the most major currencies. The Japanese stock market was closed for a public holiday.

EUR/USD: the currency pair was up to $1.3865

GBP/USD: the currency pair climbed to $1.6815

USD/JPY: the currency pair traded mixed

NZD/USD: the currency pair has reached a three-and-a-half week low

The most important news that are expected (GMT0):

12:00    Germany                           CPI, m/m (Preliminary)                                  April      +0.3%  -0.1%   

12:00    Germany                           CPI, y/y (Preliminary)                                    April      +1.0%  +1.3%  

13:00    U.S.                                   S&P/Case-Shiller Home Price Indices, y/y       March   +13.2% +12.9%

14:00    United Kingdom                 BOE Deputy Governor Andrew Bailey Speaks                                                

14:00    U.S.                                   Consumer confidence                                    April      82.3      82.9      

19:30    Canada                              BOC Gov Stephen Poloz Speaks                                                            

22:45    New Zealand                      Building Permits, m/m                                    March   -1.7%                  

23:05    United Kingdom                 Gfk Consumer Confidence                              April      -5           -4           

23:15    Japan                                Manufacturing PMI                                          April      53.9                     

23:50    Japan                                Industrial Production (MoM) (Preliminary)        March   -2.3%   +0.6%  

23:50    Japan                                Industrial Production (YoY) (Preliminary)         March   +7.0%

EUR / USD

Resistance levels (open interest**, contracts)

$1.3940 (2200)

$1.3913 (2176)

$1.3893 (1460)

Price at time of writing this review: $ 1.3861

Support levels (open interest**, contracts):

$1.3839 (63)

$1.3812 (1547)

$1.3789 (1082)

Comments:

- Overall open interest on the CALL options with the expiration date May, 9 is 26211  contracts, with the maximum number of contracts with strike price $1,4000 (3244);

- Overall open interest on the PUT optionswith the expiration date May, 9 is 32535 contracts, with the maximum number of contractswith strike price $1,3600 (3834);

- The ratio of PUT/CALL was 1.24 versus 1.24 from the previous trading day according to data from April, 28.

GBP/USD

Resistance levels (open interest**, contracts)

$1.7100 (1364)

$1.7001 (1351)

$1.6903 (1612)

Price at time of writing this review: $1.6813

Support levels (open interest**, contracts):

$1.6698 (850)

$1.6599 (1321)

$1.6500 (1225)

Comments:

- Overall open interest on the CALL options with the expiration date May, 9 is  17071 contracts, with the maximum number of contracts with strike price $1,6800 (1759);

- Overall open interest on the PUT optionswith the expiration date May, 9 is 19575 contracts, with the maximum number of contracts with strike price $1,6200 (1869);

- Theratio of PUT/CALLwas 1.15 versus 1.15 from the previous trading day according to data from April, 28.

* - 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.