Friday 3rd April: European Open Briefing

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Global Markets:

  • Asian stock markets: Nikkei up 0.40 %, Shanghai Composite gained 0.35 %, Hang Seng and ASX closed

  • Commodities: Gold at $1202.60 (+0.05 %), Silver at $16.74 (+0.05 %), WTI Oil at $49.53 (+0.25 %), Brent Oil at $55.14 (+0.05 %)

  • Rates: US 10 year yield at 1.913, UK 10 year yield at 1.59, German 10 year yield at 0.19

News & Data:

  • China HSBC Services PMI 52.3, Previous: 52.0

  • Initial deal reached on Tehran's nuclear program – RTRS

  • Oil falls nearly 4 percent after tentative nuclear deal for Iran – RTRS

  • Asian shares rise as U.S. jobs data awaited – RTRS

NFP Estimates from the Major Banks:

  • CONSENSUS: 245k

  • Bank of America +270k

  • Barclays +250k  

  • BMO +250k

  • CIBC +200k

  • Credit Agricole +260K

  • Credit Suisse +240k

  • Goldman Sachs +220k

  • Morgan Stanley +195k

  • JP Morgan +250k

  • Societe Generale +272k

  • UBS +260k

  • Royal Bank of Canada +225k

  • BNP Paribas +260k

  • Royal Bank of Scotland +238k

Markets Update:

The major European markets are closed for the Good Friday holiday and liquidity in the FX market is expected to be very thin, especially since traders are waiting for the NFP release later today.

Upcoming Events:

  • GOOD FRIDAY HOLIDAY

  • 13:30 GMT – US Nonfarm Payrolls (245k)

  • 13:30 GMT – US Unemployment Rate (5.5 %)

  • 13:30 GMT – US Average Hourly Earnings (0.2 % m/m)

  • 13:30 GMT – US Participation Rate