Natural gas futures was the best performing asset class, reporting its best week of the year on signs that summer-like temperatures will help reduce supply.  The futures were up 13 percent for the week; up the most since the seven days, ended January 1st. Short sellers covering their short positions seem to be driving the recent run-up.  An above-normal temperature across most of the lower states is expected to rise at the start of May, pushing demand for the power-plant fuel to run air conditioners.

In the currency market, the Japanese yen was the worst performing currency, as reports surfaced that the Bank of Japan is considering more aggressive easing in the form of additional stimulus measures. This could mean the implementation of negative lending rates to financial institutions in Japan. In the week ahead the Bank of Japan’s highly anticipated monetary policy meeting and statement will likely attract more volatility and trading opportunities.

In the commodity market gold futures finished the week practically unchanged, however, prices did manage to bounce from the short-term uptrend support to the resistance and then back to the support line.  Crude oilfutures also provided trading opportunities based on short-term technical forecasting techniques.