Global Markets:
- Asian Stock Markets : Nikkei up 4.24%, Hang Seng up 2.04%, ASX up 4.33%
- Commodities : Gold at $1658.05 (+0.75%), Silver at $14.71 (+1.51%), Brent Oil at $33.82 (-0.85%), WTI Oil at $27.91 (-1.52%)
- Rates : US 10-year yield at 0.657, UK 10-year yield at 0.343, Germany 10-year yield at -0.409
News & Data:
- (USD) ISM Non-Manufacturing PMI 52.5 vs 43.5 expected
- (USD) Unemployment Rate 4.40% vs 3.80% expected
- (USD) Non-Farm Employment Change -701K vs -100K expected
- (USD) Average Hourly Earnings m/m 0.40% vs 0.20% expected
- (GBP) Final Services PMI 34.5 vs 34.7 expected
- French FinMin Le Maire: EU Fund Needs To Be Hundreds Of Billions Of Euros
- Russia and Saudi Arabia are ‘very, very close’ to an oil production deal, says Russia’s Dmitriev
CFTC Positioning Data:
- EUR long 74K vs 61K long last week. Longs increased by 13k
- GBP long 5K vs 11K long last week. Longs trimmed by 6K
- JPY long 18K vs 24K long last week. Longs trimmed by 6K
- CHF long 5K vs 5K long last week. No change in the current week.
- AUD short 31k vs 25K short last week. Shorts increased by 6K
- NZD short 16K vs 16K short last week. No change in the current week.
- CAD short 22k vs 29K short last week. Shorts trimmed by 7K.
Markets Update:
Asian stock markets are mostly higher on Monday despite the negative cues from Wall Street Friday after a report from the U.S. Labor Department showed that employment in the U.S. fell much more than expected in the month of March.
Investor sentiment received a boost amid optimism that the number of coronavirus cases in New York, a U.S. hotspot for the pandemic, may be peaking. New York State reported its first decline in the number of daily coronavirus-related deaths as well as hospitalizations on Sunday. The coronavirus-related death toll in France and Italy has also slowed.
Stocks in Japan were among the biggest gainers of the day, with the Nikkei 225 rising 4.2%. South Korea’s Kospi also advanced 3.9%.Hong Kong’s Hang Seng index edged 2.0%. Shares in Australia also saw substantial gains, with the S&P/ASX 200 closing 4.33% higher.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 100.632 after crossing the 100 level last week. U.S. crude futures had fallen 9% after a scheduled meeting between OPEC and its allies — collectively referred to as OPEC+ — was pushed back, raising fears that a production cut might face challenges.
Upcoming Events:
Monday, April 06, 2020
- 02:30 PM GMT – (CAD) BOC Business Outlook Survey
- 10:00 PM GMT – (NZD) NZIER Business Confidence
Tuesday, April 07, 2020
- 01:30 AM GMT – (AUD) Trade Balance
- 04:30 AM GMT – (AUD) Cash Rate
- 04:30 AM GMT – (AUD) RBA Rate Statement
Wednesday, April 08, 2020
- Tentative – (All) OPEC Meetings
- Tentative – (All) OPEC-JMMC Meetings
- Tentative – (USD) FOMC Meeting Minutes
Thursday, April 09, 2020
- 12:30 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 01:30 AM GMT – (AUD) RBA Financial Stability Review
- 06:00 AM GMT – (GBP) GDP m/m
- 11:30 AM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 12:30 PM GMT – (CAD) Employment Change
- 12:30 PM GMT – (CAD) Unemployment Rate
- 12:30 PM GMT – (USD) Unemployment Claims
- 12:30 PM GMT – (USD) Core PPI m/m
- 12:30 PM GMT – (USD) PPI m/m
- 02:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
Friday, April 10, 2020
- 01:30 AM GMT – (CNY) CPI y/y
- 10th-15th GMT – (CNY) New Loans
- 12:30 PM GMT – (USD) CPI m/m
- 12:30 PM GMT – (USD) Core CPI m/m