Global Markets:
- Asian Stock Markets : Nikkei down 1.15%, Shanghai Composite up 0.50%, Hang Seng down 0.37%, ASX down 2.45%
- Commodities : Gold at $1687.90 (-0.64%), Silver at $15.32 (+0.15%), Brent Oil at $27.35 (-2.60%), WTI Oil at $23.59 (-5.75%)
- Rates : US 10-year yield at 0.634, UK 10-year yield at 0.308, Germany 10-year yield at -0.479
News & Data:
- (NZD) CPI q/q 0.80% vs 0.40% expected
- (CNY) Industrial Production y/y -1.10% vs -7.00% expected
- (CNY) Fixed Asset Investment ytd/y -16.10% vs -15.00% expected
- (CNY) GDP q/y -6.80% vs -6.20% expected
- Don’t reopen yet, governors tell Trump as coronavirus deaths cross 40,000
- NZ PM: Will Move Out Of Lockdown On April 27 -To Ease Lockdowns In 1 Wk
CFTC Positioning Data:
- EUR long 80K vs 74K long last week. Longs increased by 6k
- EUR long 87K vs 80K long last week. Longs increased by 7k
- GBP long 3K vs 4K long last week. Longs trimmed by 1K
- JPY long 22K vs 22K long last week. Unchanged
- CHF long 5K vs 6K long last week. Longs trimmed by 1K
- AUD short 36k vs 35K short last week. Shorts increased by 1K
- NZD short 15K vs 14K short last week. Unchanged
- CAD short 24k vs 24K short last week. Unchanged.
Markets Update:
Asian stock markets are mixed on Monday with modest gains with investors treading cautiously as they looked ahead to the release of major corporate earnings results and economic data later this week for clues on the coronavirus pandemic’s impact on the global economy. Crude oil prices are losing almost 16 percent in Asian trades.
Japan reported its exports fell almost 12% in March from a year earlier, with shipments to the United States down over 16%. Readings on April manufacturing globally are due on Thursday and are expected to hit recession-era lows. The Nikkei 225 in Japan fell 1.2% and the Topix shed 0.7%. Hong Kong’s Hang Seng index dipped 0.4%, as of its final hour of trading. In Australia, the S&P/ASX 200 led losses among the region’s major markets as it dropped 2.5%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 99.919 after crossing the 100 mark last week.
Bond markets suggested investors expected tough economic times ahead with yields on U.S. 10-year Treasuries steady at 0.63%, from 1.91% at the start of the year. Oil prices remained under pressure as the global lockdown saw fuel demand evaporate, leaving so much extra supply countries were finding it hard to find space to store it.
Upcoming Events:
Tuesday, April 21, 2020
- 01:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 05:00 AM GMT – (AUD) RBA Gov Lowe Speaks
- 06:00 AM GMT – (GBP) Claimant Count Change
- 09:00 AM GMT – (EUR) German ZEW Economic Sentiment
Wednesday, April 22, 2020
- 06:00 AM GMT – (GBP) CPI y/y
- 12:30 PM GMT – (CAD) CPI m/m
Thursday, April 23, 2020
- 07:15 AM GMT – (EUR) French Flash Services PMI
- 07:15 AM GMT – (EUR) French Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Services PMI
- 08:00 AM GMT – (EUR) Flash Manufacturing PMI
- 08:00 AM GMT – (EUR) Flash Services PMI
- 08:30 AM GMT – (GBP) Flash Manufacturing PMI
- 08:30 AM GMT – (GBP) Flash Services PMI
- 12:30 PM GMT – (USD) Unemployment Claims
- 01:45 PM GMT – (USD) Flash Manufacturing PMI
Friday, April 24, 2020
- 06:00 AM GMT – (GBP) Retail Sales m/m
- 08:00 AM GMT – (EUR) German ifo Business Climate
- 12:30 PM GMT – (USD) Core Durable Goods Orders m/m