Posted at 23 April 2021 / Categories Market Roundups
Market Roundup
•UK Mar Retail Sales (YoY) 7.2%,3.5%forecast, -3.7% previous
•UK Mar Core Retail Sales (YoY) 7.9%,4.5% forecast, -1.1% previous
•UK Mar Core Retail Sales (MoM) 4.9%,1.9% forecast, 2.4% previous
•UK Mar Public Sector Net Borrowing 27.27B, 18.41B previous
•UK Public Mar Sector Net Cash Requirement 19.225B, 14.162B previous
•UK Mar Retail Sales (MoM) 5.4%,1.5% forecast, 2.1% previous
•French Apr Manufacturing PMI 59.2, 59.0 forecast, 59.3 previous
•French Apr Services PMI 50.4, 46.5 forecast,48.2 previous
•German Apr Manufacturing PMI 66.4, 65.8 forecast ,66.6 previous
•German Apr Services PMI 50.1, 50.8 forecast, 51.5 previous
•German Apr Composite PMI 56.0, 56.8 forecast, 57.3 previous
•EU April Markit Composite PMI 53.7, 52.8 forecast, 53.2 previous
•EU April Services PMI 50.3, 49.1 forecast, 49.6 previous
•Russia Apr Interest Rate Decision 5.00%, 4.75% forecast, 4.50% previous
Looking Ahead - Economic Data (GMT)
•13:45 US April Services PMI 61.9 forecast, 60.4 previous
•13:45 US April Markit Composite PMI 59.7 previous
•13:45 US April Manufacturing PMI 60.5 forecast, 59.1 previous
•14:00 US New Mar Home Sales 886K forecast, 775K previous
•14:00 US Mar New Home Sales (MoM) 12.0% forecast, -18.2% previous
•17:00 U.S. Baker Hughes Total Rig Count 432 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events ahead
Fxbeat
EUR/USD: The euro rose on Friday, edging back towards a seven-week high, having nursed losses after European Central Bank President Christine Lagarde squashed speculation that policymakers will start to consider a tapering of bond purchases.Flash purchasing managers' index numbers for April came in better than expected in the euro zone and supported the view that the region's economic recovery is accelerating. Immediate resistance can be seen at 1.2080(23.6%fib), an upside break can trigger rise towards 1.2100 (Psychological level).On the downside, immediate support is seen at 1.2045(5DMA), a break below could take the pair towards 1.2012 (38.2%fib).
GBP/USD: Sterling rebounded on Friday from a sharp fall on Thursday after strong retail sales data and business surveys showed Britain’s economy might already be recovering from its worst annual contraction in 300 years.British retail sales rocketed last month as consumers prepared for a partial lifting of coronavirus lockdown restrictions. After having erased its gains this week on Thursday, the pound was once again set for a weekly gain on Friday, trading 0.3% higher on the day at $1.3878 by 1055 GMT.. Immediate resistance can be seen at 1.3908 (5DMA), an upside break can trigger rise towards 1.3931 (23.6%fib ).On the downside, immediate support is seen at 1.3821 (38.2%fib), a break below could take the pair towards 1.3735 (38.2%fib ).
USD/CHF: The dollar edged lower against the Swiss franc on Friday as traders contemplate the next moves by major central banks ahead of a U.S. Federal Reserve meeting next week. The euro nursed losses after European Central Bank President Christine Lagarde squashed expectations that policymakers will start to consider a tapering of bond purchases due to an improving economic outlook. Fed Chairman Jerome Powell is likely to repeat Lagarde's message that talk of tapering is premature, which would put downward pressure on Treasury yields and cap the dollar's gains against most currencies. Immediate resistance can be seen at 0.9161 (5DMA), an upside break can trigger rise towards 0.9192(38.2%fib).On the downside, immediate support is seen at 0.9123 (23.6%fib), a break below could take the pair towards 0.9100 (Psychological level ).
USD/JPY: The dollar declined against the Japanese yen on Friday as concerns about a global rise in COVID-19 cases prompted moves towards safer assets. Data on manufacturing and services activity from the United States are due later on Friday, which could support positive economic sentiment, but the dollar is unlikely to move much as investors stick to the sidelines before next the Fed's meeting. The dollar stood at 107.90 yen, close to a seven-week low. Strong resistance can be seen at 107.99 (38.2%fib), an upside break can trigger rise towards 108.56 (38.2%fib).On the downside, immediate support is seen at 107.29(23.6%fib), a break below could take the pair towards 107.00(Psychological level).
Equities Recap
European stocks were on track for their first weekly loss in eight on Friday as a surge in global coronavirus cases offset optimism about a strong earnings season, while Madrid-based Allfunds jumped in its Amsterdam market debut.
At (GMT 13:00 ),UK's benchmark FTSE 100 was last trading down at 0.63 percent, Germany's Dax was down by 0.92 percent, France’s CAC was last down by 0.59 percent.
Commodities Recap
Gold edged higher on Friday and was on track to register a third straight weekly gain supported by a weaker dollar and lower U.S. Treasury yields, while investors awaited a U.S. Federal Reserve policy meeting next week.
Spot gold rose 0.4% to $1,790.65 per ounce by 1156 GMT, having jumped to its highest since Feb. 25 at $1,797.67 on Thursday, and has gained 0.8% so far this week.
Oil prices were broadly steady on Friday with support from a European economic recovery countered by concerns as coronavirus infections in India surged to record levels.
Brent crude dipped 4 cents, or 0.1%, to $65.36 a barrel at 1220 GMT, while U.S. West Texas Intermediate (WTI) U.S. crude gained 7 cents, or 0.1%, to $61.50 a barrel.