While Friday’s jobs report is the near-term focus, attention is already turning to CPI on April 12th.
American dollar He wobbled at first and stumbled 101.4 on data, but recovered to close at 101.75. Another data miss, another drop in bonds. Treasury bonds swarmed further after the weaker ISM services And ADP numbers Added to the forecast for A slowing economy that will keep the FOMC hawks on the ground, if not in May, then in June. A combination of Risk aversionLower expectations for Fed tightening, short covering and technicals helped drive the move. Wall Street was mixed throughout the session & Asian stocks It fell after the US fell as investors shifted their focus to the possibility of a recession. German Industrial Production increased by 2.0% on a monthly basis In February, add signs that activity has strengthened, and that Germany will escape a technical recession! UK house prices have gone up Unexpectedly in March.
Overnight – China and Hong Kong have reopened But the region’s inventories also remained heavy ahead of the Easter holiday. – PMI Chinese Services grew vigorously, and Trade Balance AUD It was better than expected but heavier Australian dollars & New Zealand dollar.
- FX – USDIndex ranges 101.11-101.29. The Euro and the Pound are weaker but are holding above them 1.0900 And 1.2450 respectively. The Yen also lost ground against the Dollar, bouncing back to 131.50.
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- Equities – The US100 is down -1.07%, while the US500 is down -0.25%, with the US30 up 0.24%. Western Alliance Bancorp Shares fell even further today, down about -17% after yesterday’s Q1 financials update due to a lack of detail. Losses are narrowed slightly after more information about its deposits was released, noting that total deposits fell to $47.6 billion in the first quarter from $53.6 billion at the end of the fourth quarter. It is scheduled to announce its earnings on April 18 after the close.
- Goods – USOil is my side in between $79 – $80.
- gold – Prices have fallen to $2012 from $2032but the contract withstood above 2000 dollars After breaking this barrier yesterday (the closing basis) for the first time since March 2022.
- Digital currencies – BTC flat in $28k.
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today – US jobless claims, Canadian employment data and Fed Chairman Hook’s speech – Bullard.
The largest forex engine @ (07:30 GMT) NZDJPY (+0.52%). EU opening price rebounded from 82.42 but settled below PP. The moving averages have reversed but not yet crossed higher, while the MACD and RSI remain negative.
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Andrea Pechedy
Market analyst
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