Forecasts & Analysis

PNC shares rose about 3% on Friday after the financial services company reported better-than-expected earnings in the first quarter of this year and said its profit rose on significant provision recapture, reflecting improved macroeconomic expectations.

The US dollar has pulled back significantly during the course of the week to test the ¥109 level for support.

The British pound rallied a bit during the week as we continue to test the 1.3750 level as support. There is a significant amount of support underneath as well.

The British pound broke down below the ¥150 level during the course of the week, but then turned around to form a bit of a hammer.

The Euro rallied significantly during the course of the trading to reach towards the 1.20 handle again.

The Australian dollar has exploded for the week, reaching to fill the previous, and now threatens the 0.78 handle.

Silver settled above the resistance at $25.85 and tried to settle above the next resistance at $26.25 – $26.30.

Morgan Stanley raised their stock price forecast on UnitedHealth to $515 from $462 and said conservative guidance around utilization and acuity trends should pave the way for more upside later in the year.

“Other than my Cincinnati Bengals breaking my heart, few things are more consistent than stocks higher in April.”

The direction of the June U.S. Dollar Index on Friday is likely to be determined by trader reaction to 91.555.