Posted at 26 April 2021 / Categories Market Roundups
Market Roundup:
•US March Durables Excluding Defense (MoM) 0.5% ,-0.8% previous
•US March Core Durable Goods Orders (MoM) 1.6%, 1.6%forecast,-0.9% previous
•US March Durable Goods Orders (MoM) 0.5%, 2.5% forecas,-1.2% previous
•US March Goods Orders Non Defense Ex Air (MoM 0.9%, 1.5% forecast, -0.9% previous
• French 6-Month BTF Auction -0.629%, -0.622% previous
• French 3-Month BTF Auction -0.627%,-0.630% previous
• French 12-Month BTF Auction -0.623%, -0.618% previous
• Belgium Apr NBB Business Climate 4.4,-3.1 forecast, -1.0 previous
• US Apr Dallas Fed Mfg Business Index 37.3, 28.9 previous
• US 6-Month Bill Auction 0.035%,0.040% previous
• US 3-Month Bill Auction 0.020% , 0.025% previous
• US 2-Year Note Auction 0.175%, 0.152% previous
Looking Ahead – Economic Data (GMT)
• 05:20 Japan March Retail Sales (YoY) 4.7% forecast,-1.5% previous
• 07:00 Australia CPI (QoQ) (Q1) 0.9% forecast, 0.9% previous
• 07:00 Australia CPI Index Number (Q1) 117.20 previous
• 07:00 Australia Trimmed Mean CPI (QoQ) (Q1) 0.5% forecast, 0.4% previous
• 07:00 Australia Weighted mean CPI (QoQ) (Q1) 0.5% forecast, 0.5% previous
• 07:00 Australia Trimmed Mean CPI (YoY) (Q1) 1.2% forecast, 1.2% previous
• 07:00 Australia CPI (YoY) (Q1) 1.4% forecast,0.9% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro held at an eight-week high against the dollar on Monday despite a disillusioning opinion overview in Germany as assumptions that U.S. Central bank will keep up its hesitant position at next policy meeting burdened the greenback. German business confidence improved less than expected in April as a third wave of COVID-19 cases and issues with supply of parts in the industrial sectors appeared to slow economic recovery in Europe's biggest economy. The euro last trading at 0.01% higer at $1.2081 . Immediate resistance can be seen at 1.2121 (23.6%fib), an upside break can trigger rise towards 1.2144(Higher BB).On the downside, immediate support is seen at 1.2041(38.2%fib), a break below could take the pair towards 1.2009 (11DMA).
GBP/USD: Sterling strengthened against the dollar on Monday, overlooking political commotion coming from charges against Britain's Conservative government as data showed investors were still bullish on sterling. The Sterling seemed unaffected by the news and strengthened against the dollar for a second week on Friday, helped by better than expected data demonstrated Britain's economy might be bouncing back from its worst annual contraction in 300 years. Sterling was 0.1% higher at $1.3896, off last week's top of $1.4009. Immediate resistance can be seen at 1.3914 (23.6%fib), an upside break can trigger rise towards 1.3971(Higher BB ).On the downside, immediate support is seen at 1.3851 (5DMA), a break below could take the pair towards 1.3806(38.2%fib ).
USD/CAD: The Canadian dollar strengthened to its highest level in nearly six weeks against its U.S. counterpart on Monday, as investors focused on underlying factors supportive of the currency and awaited a Federal Reserve policy decision later this week. The price of oil, one of Canada's major exports, settled 0.4% lower at $61.91 a barrel, pressured by fears that surging COVID-19 cases in India will dent fuel demand in the world's third-biggest oil importer. The loonie was trading 0.6% higher at 1.2400 to the greenback, having touched its strongest intraday level since March 18 at 1.2383. Immediate resistance can be seen at 1.2456(5DMA), an upside break can trigger rise towards 1.2533(38.2%fib).On the downside, immediate support is seen at 1.2375 (5 DMA), a break below could take the pair towards 1.2300 (Psychological level).
USD/JPY: The dollar gained against the Japanese yen on Monday as investors consolidated there positions ahead of the Federal Reserve's monetary policy meeting this week. The dollar has fallen nearly 3% since late March as U.S. Treasury yields, which had risen this year and supported the greenback, traded in narrow ranges. The Federal Open Market Committee ends its two-day meeting on Wednesday, and while no major policy changes are expected, investors will pay close attention to comments from Chairman Jerome Powell. The dollar was last up 0.02% at 106.05 yen. Strong resistance can be seen at 108.22(38.2%fib), an upside break can trigger rise towards 108.56 (14DMA).On the downside, immediate support is seen at 107.97 (Ichimoku Cloud Top), a break below could take the pair towards 107.62(23.6%fib).
Equities Recap
European stocks ended higher on Monday as strong metals prices boosted miners, while a rise in bond yields supported shares of major banks amid optimism the worst of the COVID-19 pandemic had passed..
UK's benchmark FTSE 100 closed up by 1.13 percent, Germany's Dax ended down by 0.27 percent, France’s CAC finished the day up by 0.44 percent.
Wall Street's main indexes rose on Monday as Tesla shares gained ahead of the electric-car maker's earnings report, which would kick off this week's results from heavyweight technology companies.
Dow Jones closed down by 0.18% percent, S&P 500 closed up by 0.22% percent, Nasdaq settled down by 0.87% percent.
Treasuries Recap
U.S. intermediate-dated Treasury yields rose on Monday after the Treasury Department sold $121 billion in short- and intermediate-dated debt to mixed demand, and ahead of this week’s Federal Reserve meeting.
Benchmark 10-year note yields were little changed on the day at 1.570%. They have dropped from a more than one-year high of 1.776% last month.
Commodities Recap
Gold prices held firm on Monday, supported by a weaker dollar ahead of the U.S. Federal Reserve's meeting this week, while supply worries kept palladium near record highs hit in the previous session.
Spot gold was up 0.1% at $1,779.73 an ounce by 0931 GMT. U.S. gold futures rose 0.1% to $1,779.60.
Oil pared its losses on Monday as the Organization of the Petroleum Exporting Countries and its allies indicated that it was watching surging COVID-19 cases in India, which may dent fuel demand in the world's third-biggest oil importer.
Brent crude settled 46 cents lower, down 0.7% at $65.65 a barrel, after trading at a session low of $64.57 a barrel. U.S. West Texas Intermediate (WTI) crude ended down 23 cents, or 0.4%, at $61.91 a barrel, after touching a session low of $60.66.