Global Markets:
- Asian stock markets: Nikkei up 0.75 %, Shanghai Composite rose 0.50 %, Hang Seng and ASX 200 closed for holiday
- Commodities: Gold at $1213 (-0.90 %), Silver at $15.20 (-0.05 %), WTI Oil at $39.80 (+0.80 )
- Rates: US 10 year yield at 1.90, UK 10 year yield at 1.48, German 10 year yield at 0.18
News & Data:
- Dollar, North Asia stocks firm on positive U.S. GDP data – RTRS
- Oil prices rise in thin Asian trade after break – RTRS
- Emerging-Market Assets Trim Best Monthly Increase in Four Years – RTRS
- China Stocks Rise for Second Day as Industrial Profits Rebound – BBG
- Dollar Gains for Seventh Day Against Yen While Japan Shares Rise – BBG
- Dollar Gauge Rises for Seventh Day on Outlook for Higher Rates – BBG
CFTC Positioning Data:
- EUR short 66K vs. 78K short prior week
- GBP short 38K vs. 14K short prior week
- JPY long 53K vs. 46K long prior week
- CAD short 15K vs. 17K short prior week
- CHF long 4K vs. 5K long prior week
- AUD long 18K vs. 13K long prior week
- NZD long 1K vs. 1K long prior week
Markets Update:
The Nikkei rose 0.75 % overnight, while the Shanghai Composite gained more than 0.50 % after better than expected Chinese industrial profits data over the weekend. Meanwhile, Hong Kong and Australian markets were closed for the Easter Monday holiday and most European markets will remain closed today as well.
The US Dollar fell against most major currencies overnight, except the Japanese Yen. USD/JPY opened around 113.10 in Sydney and rallied to a high of 113.68 earlier. Immediate resistance is seen at 113.80, followed by 114.15 and 114.45.
EUR/USD started at 1.1160, little changed from Friday's NY close, fell to 1.1153 after the Tokyo open, but eventually rebounded and made it to 1.1165. GBP/USD opened at 1.4127 and consolidated in a 1.4120-40 range in Asia. AUD/USD traded 0.7495-0.7520, while NZD/USD was caught in a 0.6670-90 range.
Upcoming Events:
- 13:30 BST – US Core PCE Price Index
- 13:30 BST – US Personal Spending
- 15:00 BST – US Pending Home Sales
- 15:30 BST – US Dallas Fed Manufacturing Index
The Week Ahead:
Tuesday, March 29th
- 00:30 BST – Japanese Household Spending
- 00:30 BST – Japanese Unemployment Rate
- 00:50 BST – Japanese Retail Sales
- 08:30 BST – Swedish Retail Sales
- 09:00 BST – Euro Zone M3 Money Supply
- 13:55 BST – US Redbook
- 14:00 BST – US CB Consumer Confidence
- 22:45 BST – New Zealand Building Consents
Wednesday, March 30th
- 09:00 BST – Norway Unemployment Rate
- 10:00 BST – Euro Zone Consumer Confidence
- 13:00 BST – German CPI
- 13:15 BST – US ADP Nonfarm Employment Change
- 15:30 BST – US Crude Oil Inventories
Thursday, March 31st
- 01:00 BST – Australian HIA New Home Sales
- 01:00 BST – Australian ANZ Business Confidence
- 01:30 BST – Australian Private Sector Credit
- 06:00 BST – Japan Housing Starts
- 07:00 BST – German Retail Sales
- 07:45 BST – French Consumer Spending
- 07:45 BST – French PPI
- 08:00 BST – Spanish CPI
- 08:55 BST – German Unemployment Change
- 08:55 BST – German Unemployment Rate
- 09:30 BST – UK GDP
- 09:30 BST – UK Current Account
- 10:00 BST – Italian CPI
- 10:00 BST – Euro Zone CPI
- 13:30 BST – US Initial Jobless Claims
- 13:30 BST – Canadian GDP
- 14:45 BST – US Chicago PMI
- 23:30 BST – Australian AIG Manufacturing Index
Friday, April 1st
- 00:50 BST – Japanese Tankan Large Manufacturers Index
- 02:00 BST – Chinese Manufacturing PMI
- 02:45 BST – Chinese Caixin Manufacturing PMI
- 08:15 BST – Swiss Retail Sales
- 08:45 BST – Italian Manufacturing PMI
- 08:50 BST – French Manufacturing PMI
- 08:55 BST – German Manufacturing PMI
- 09:00 BST – Euro Zone Manufacturing PMI
- 09:30 BST – UK Manufacturing PMI
- 10:00 BST – Euro Zone Unemployment Rate
- 13:30 BST – US Nonfarm Payrolls
- 13:30 BST – US Unemployment Rate
- 13:30 BST – US Average Hourly Earnings
- 14:45 BST – US Manufacturing PMI
- 15:00 BST – US ISM Manufacturing PMI
- 15:00 BST – US Michigan Consumer Confidence
