Global Markets:
- Asian Stock Markets : Nikkei up 0.20%, Shanghai Composite up 0.02%
- Commodities : Gold at $1329.10 (+0.48%), Silver at $16.40 (+0.78%), WTI Oil at $69.72 (+0.55%), Brent Oil at $65.19 (+0.38%)
- Rates : US 10-year yield at 2.763, UK 10-year yield at 1.343, Germany 10-year yield at 0.497
News & Data:
- (CNY) Caixin Manufacturing PMI 51 vs 51.8 expected
- (CNY) Non-Manufacturing PMI 54.6 vs 54.5 expected
- (CNY) Manufacturing PMI 51.5 vs 50.5 expected
- (USD) Revised UoM Consumer Sentiment 101.4 vs 101.9 expected
- (USD) Chicago PMI 57.4 vs 62.1 expected
- (USD) Unemployment Claims 215K vs 230K expected
- (USD) Personal Spending m/m 0.20% vs 0.20% expected
- (USD) Core PCE Price Index m/m 0.20% vs 0.20% expected
- (CAD) RMPI m/m -0.30% vs 2.80% expected
- (CAD) GDP m/m -0.10% vs 0.10% expected
- (GBP) Net Lending to Individuals m/m 5.4B vs 4.8B expected
- (GBP) Final GDP q/q 0.40% vs 0.40% expected
- (GBP) Current Account -18.4B vs -24.0B expected
- (CHF) KOF Economic Barometer 106 vs 107.3 expected
- (EUR) German Prelim CPI m/m 0.40% vs 0.50% expected
- China raises tariffs on US pork, fruit in trade dispute
- Japan first quarter manufacturers' mood worsens slightly: BOJ Tankan
Markets Update:
Asian markets began the quarter in the green, following strong equity performance in global markets last week. Data points for March are expected to come in later this week.
Volumes are light, given the Easter holiday. Markets in Australia, Hong Kong, Britain and Germany will be closed today, while the U.S. market will resume trading.
News from Japan has been in line with expectations – business conditions mixed, headline manufacturing DI down for the first time in eight quarters. Chinese data were mixed, as official PMIs were stronger than expected. However, the Caixin manufacturing index was weaker, and hence the effect was negated.
China has announced tariffs on 128 US imports, in response to US duties – however, it has maintained that it does not intend to escalate.
The dollar was stable against an index of major currencies, after rising as much as 0.6% last week, due to a variety of reasons including perceived progress on ties with North Korea. Yen and Sterling were seen underperforming.
Crude was seen to be trading higher, after a drop in US drilling activity was reported. Reports of US considering re-imposing sanctions on Iran also lifted Crude prices. Gold was also trading higher in the day’s trade.
Upcoming Events:
Monday, 2nd April 2018
- 01:45 AM GMT – (CNY) Caixin Manufacturing PMI
- 02:00 PM GMT – (USD) ISM Manufacturing PMI
- 10:00 PM GMT – (NZD) NZIER Business Confidence
Tuesday, 3rd April 2018
- 04:30 AM GMT – (AUD) Cash Rate
- 04:30 AM GMT – (AUD) RBA Rate Statement
- 06:00 AM GMT – (EUR) German Retail Sales m/m
- 07:00 AM GMT – (EUR) Spanish Unemployment Change
- 08:30 AM GMT – (GBP) Manufacturing PMI
- Tentative – (NZD) GDT Price Index
- 08:30 PM GMT – (USD) FOMC Member Brainard Speaks
Wednesday, 4th April 2018
- 01:30 AM GMT – (AUD) Retail Sales m/m
- 01:30 AM GMT – (AUD) Building Approvals m/m
- 01:45 AM GMT – (CNY) Caixin Services PMI
- 08:30 AM GMT – (GBP) Construction PMI
- 09:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 09:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 12:15 PM GMT – (USD) ADP Non-Farm Employment Change
- 02:00 PM GMT – (USD) ISM Non-Manufacturing PMI
- 02:30 PM GMT – (USD) Crude Oil Inventories
- 03:00 PM GMT – (USD) FOMC Member Mester Speaks
Thursday, 5th April 2018
- 01:30 AM GMT – (AUD) Trade Balance
- 08:30 AM GMT – (GBP) Services PMI
- 12:30 PM GMT – (CAD) Trade Balance
- 12:30 PM GMT – (USD) Unemployment Claims
- 04:00 PM GMT – (CHF) Gov Board Member Maechler Speaks
- 05:00 PM GMT – (USD) FOMC Member Bostic Speaks
Friday, 6th April 2018
- 12:30 PM GMT – (CAD) Employment Change
- 12:30 PM GMT – (CAD) Unemployment Rate
- 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
- 02:00 PM GMT – (CAD) Ivey PMI
- 03:15 PM GMT – (GBP) BOE Gov Carney Speaks
- 05:30 PM GMT – (USD) Fed Chair Powell Speaks
