Global Markets:
- Asian Stock Markets : Nikkei down 2.33%, Shanghai Composite down 0.49%
- Commodities : Gold at $1741.45 (-0.65%), Silver at $15.66 (-2.45%), Brent Oil at $31.56 (+0.25%), WTI Oil at $23.11 (+1.54%)
- Rates : US 10-year yield at 0.735, UK 10-year yield at 0.306, Germany 10-year yield at -0.350
News & Data:
- (USD) Core CPI m/m -0.10% vs 0.10% expected
- (USD) CPI m/m -0.40% vs -0.30% expected
- (CNY) New Loans 2850B vs 1800B expected
- Cautious hope for pandemic peak as Spain readies to reopen some factories
- New Zealand, Australia say too soon to ease restrictions despite coronavirus slowdown
- Boris Johnson leaves hospital, saying ‘things could have gone either way’
- OPEC and Oil-Producing Nations Agree to Huge Barrel Cut to Boost Crashing Prices
CFTC Positioning Data:
- EUR long 80K vs 74K long last week. Longs increased by 6k
- GBP long 4K vs 5K long last week. Longs trimmed by 1K
- JPY long 22K vs 18K long last week. Longs increased by 4K
- CHF long 6K vs 5K long last week. Longs increased by 1K
- AUD short 35k vs 31K short last week. Shorts increased by 5K
- NZD short 15K vs 16K short last week. Shorts trimmed by 1K
- CAD short 24k vs 22K short last week. Shorts trimmed by 2K.
Markets Update:
Asian stock markets are mostly lower on Monday in the absence of fresh cues from Wall Street and European markets, which were closed for the Good Friday holiday, and amid worries about the impact of the coronavirus pandemic on the global economy.
According to data released by Johns Hopkins University, the number of coronavirus infection cases worldwide has risen to 1.84 million, while the death toll stood at more than 114,000.
The Japanese market is declining and the safe-haven yen strengthened amid worries about the economic impact of the coronavirus pandemic. The Nikkei traded lower by 2.3%. Mainland Chinese stocks declined on the day, with the Shanghai composite shedding 0.5%. The markets in Australia, New Zealand and Hong Kong are closed for Easter Monday, while Thailand is shuttered for the Songkran Festival.
Investors also digested news that OPEC and its allies, known as OPEC+, agreed on Sunday to cut oil production by a record 9.7 billion barrels per day for May and June. Crude oil prices rebounded more than 5 percent in Asian trading following the news.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 99.208 after declining from levels above 100 last week.
Upcoming Events:
Tuesday, April 14, 2020
- 01:30 AM GMT – (AUD) NAB Business Confidence
- Tentative – (CNY) Trade Balance
- Tentative – (CNY) USD-Denominated Trade Balance
Wednesday, April 15, 2020
- 12:30 PM GMT – (USD) Core Retail Sales m/m
- 12:30 PM GMT – (USD) Retail Sales m/m
- 02:00 PM GMT – (CAD) BOC Monetary Policy Report
- 02:00 PM GMT – (CAD) BOC Rate Statement
- 02:00 PM GMT – (CAD) Overnight Rate
- 03:15 PM GMT – (CAD) BOC Press Conference
Thursday, April 16, 2020
- 01:30 AM GMT – (AUD) Employment Change
- 01:30 AM GMT – (AUD) Unemployment Rate
- 08:30 AM GMT – (GBP) BOE Credit Conditions Survey
- 12:30 PM GMT – (CAD) Manufacturing Sales m/m
- 12:30 PM GMT – (USD) Unemployment Claims
- 12:30 PM GMT – (USD) Building Permits
- 12:30 PM GMT – (USD) Philly Fed Manufacturing Index
Friday, April 17, 2020
- 02:00 AM GMT – (CNY) GDP q/y
- 02:00 AM GMT – (CNY) Fixed Asset Investment ytd/y
- 02:00 AM GMT – (CNY) Industrial Production y/y
Sunday, April 19, 2020
- 10:45 PM GMT – (NZD) CPI q/q