Global Markets:
- Asian Stock Markets : Hang Seng up 1.61%, ASX up 0.58%
- Commodities : Gold at $1323.00 (-0.03%), Silver at $16.42 (+0.09%), WTI Oil at $73.55 (-0.33%), Brent Oil at $67.91 (-0.28%)
- Rates : US 10-year yield at 2.959, UK 10-year yield at 1.441, Germany 10-year yield at 0.573
News & Data:
- (EUR) German Retail Sales m/m vs 0.80% expected
- (NZD) ANZ Business Confidence -23.4 vs -20 previous
- (CNY) Non-Manufacturing PMI 54.8 vs 54.6 expected
- (CNY) Manufacturing PMI 51.4 vs 51.3 expected
- (USD) Revised UoM Consumer Sentiment 98.8 vs 98 expected
- (USD) Employment Cost Index q/q 0.80% vs 0.70% expected
- (USD) Advance GDP Price Index q/q 2.00% vs 2.20% expected
- (USD) Advance GDP q/q 2.30% vs 2.00% expected
- (GBP) Prelim GDP q/q 0.10% vs 0.30% expected
- (EUR) Spanish Flash GDP q/q 0.70% vs 0.70% expected
- (EUR) Spanish Flash CPI y/y 1.10% vs 1.20% expected
- Germany’s export-oriented economic model is caught in a US-Chinese squeeze
- Housing Downturn Could Pressure Australian Bank Ratings
- Korea Summit Eases Tensions but Does Not Eliminate Risks
CFTC Positioning Data (Week Ending April 24th, 2018)
- EUR long 131K vs 151K long last week.
- GBP long 37K vs 48K long last week.
- JPY long 1K vs 3K long last week.
- CHF short 10K vs 11K short last week.
- CAD short 25K vs 30K long last week.
- AUD short 3k vs 10K short last week.
- NZD long 24K vs 27K long last week.
Markets Update:
Asian markets higher today, as geopolitical tensions eased. The historic North – South Korea summit concluded, with Pyongyang committing to shut down a nuclear test site. Meanwhile corporate earnings continue to support markets.
China and Japan are closed for public holidays, thus the markets are thin on liquidity. Financials have been moving the needle on the Hang Seng.
Latest China manufacturing PMI also came in better-than-forecast as production remained steady. Banks and miners among the major gainers on the ASX, although cues from the Wall Street on Friday were mixed.
The U.S. dollar was barely changed after retreating on Friday, with its index against six major peers at 91.567. Crude oil futures inched lower Friday amid signs the U.S. shale boom will continue unabated.
Upcoming Events:
Monday, April 30th 2018
- 06:00 AM GMT – (EUR) German Retail Sales m/m
- Tentative – (AUD) RBA Gov Lowe Speaks
- All Day GMT – (EUR) German Prelim CPI m/m
- 07:00 AM GMT – (CHF) KOF Economic Barometer
- 08:00 AM GMT – (EUR) M3 Money Supply y/y
- 12:30 PM GMT – (CAD) RMPI m/m
- 12:30 PM GMT – (USD) Core PCE Price Index m/m
- 12:30 PM GMT – (USD) Personal Spending m/m
- 01:45 PM GMT – (USD) Chicago PMI
Tuesday, May 1st 2018
- 04:30 AM GMT – (AUD) RBA Rate Statement
- 04:30 AM GMT – (AUD) Cash Rate
- 08:30 AM GMT – (GBP) Manufacturing PMI
- 08:30 AM GMT – (GBP) Net Lending to Individuals m/m
- 12:30 PM GMT – (CAD) GDP m/m
- 02:00 PM GMT – (USD) ISM Manufacturing PMI
- Tentative – (NZD) GDT Price Index
- 06:30 PM GMT – (CAD) BOC Gov Poloz Speaks
- 10:45 PM GMT – (NZD) Employment Change q/q
- 10:45 PM GMT – (NZD) Unemployment Rate
Wednesday, May 2nd 2018
- 01:45 AM GMT – (CNY) Caixin Manufacturing PMI
- 08:30 AM GMT – (GBP) Construction PMI
- 09:00 AM GMT – (EUR) Prelim Flash GDP q/q
- 12:15 PM GMT – (USD) ADP Non-Farm Employment Change
- 02:30 PM GMT – (USD) Crude Oil Inventories
- 03:30 PM GMT – (EUR) German Buba President Weidmann Speaks
- 06:00 PM GMT – (USD) FOMC Statement
- 06:00 PM GMT – (USD) Federal Funds Rate
Thursday, May 3rd 2018
- 01:30 AM GMT – (AUD) Trade Balance
- 01:30 AM GMT – (AUD) Building Approvals m/m
- 07:00 AM GMT – (EUR) Spanish Unemployment Change
- 08:30 AM GMT – (GBP) Services PMI
- 09:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 09:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 12:30 PM GMT – (CAD) Trade Balance
- 12:30 PM GMT – (USD) Prelim Nonfarm Productivity q/q
- 12:30 PM GMT – (USD) Prelim Unit Labor Costs q/q
- 12:30 PM GMT – (USD) Unemployment Claims
- 02:00 PM GMT – (USD) ISM Non-Manufacturing PMI
- 04:00 PM GMT – (CHF) SNB Chairman Jordan Speaks
Friday, May 4th 2018
- 01:30 AM GMT – (AUD) RBA Monetary Policy Statement
- 01:45 AM GMT – (CNY) Caixin Services PMI
- 12:30 PM GMT – (USD) Average Hourly Earnings m/m
- 12:30 PM GMT – (USD) Non-Farm Employment Change
- 12:30 PM GMT – (USD) Unemployment Rate
- 01:00 PM GMT – (EUR) German Buba President Weidmann Speaks
- 02:00 PM GMT – (CAD) Ivey PMI
- 04:00 PM GMT – (USD) FOMC Member Dudley Speaks
- 07:00 PM GMT – (USD) FOMC Member Williams Speaks
- 09:30 PM GMT – (USD) FOMC Member Quarles Speaks
