Posted at 01 April 2022 / Categories Market Roundups
Market Roundup
•Swiss Mar CPI (YoY) 2.4%, 2.4%forecast, 2.2% previous
•Swiss CPI (MoM) 0.6%, 0.5% forecast, 0.7% previous
•Spanish Mar Manufacturing PMI 54.2, 55.5 forecast, 56.9 previous
•Italian Mar Manufacturing PMI 55.8, 57.0 forecast, 58.3 previous
•French Mar Manufacturing PMI 54.7, 54.8 forecast,54.8 previous
•German Mar Manufacturing PMI 56.9, 57.6 forecast, 57.6 previous
•EUI Mar Manufacturing PMI 56.5, 57.0 forecast, 58.2 previous
•UK Mar Manufacturing PMI 55.2,55.5 forecast, 58.0 previous
•EU Mar CPI (YoY) 7.5%, 6.6% forecast, 5.9% previous
•EU CPI (MoM) 2.5%, 0.9% previous
•EU Core CPI (YoY) 3.0%, 3.1% forecast, 2.7% previous
•US Mar Average Weekly Hours 34.6,34.7 forecast, 34.7 previous
•US Mar private Nonfarm Payrolls 426, 480K forecast,654K previous
•US Mar Nonfarm Payrolls 431K, 490K forecast, 678 previous
•US Mar Unemployment Rate 3.6%, 3.7% forecast, 3.8% previous
•US Mar Participation Rate 62.4%,62.3% previous
•US Mar Average Hourly Earnings (YoY) (YoY 5.6%,5.5% forecast, 5.1%previous
•US Mar Average Hourly Earnings (MoM) 0.4%, 0.4% ,0.6% previous
•Canada Manufacturing PMI 58.9,56.6 previous
•US Mar Manufacturing PMI 58.8, 58.5 forecast, 57.3 previous
Looking Ahead - Economic Data (GMT)
•14:00 US Feb Construction Spending (MoM) 1.0% forecast 1.3% previous
•14:00 US Mar ISM Manufacturing New Orders Index 61.7 previous
•14:00 US Mar ISM Manufacturing Employment 52.9 previous
•14:00 US Mar ISM Manufacturing PMI 59.0 forecast, 58.6 previous
•14:00 US Mar ISM Manufacturing Prices 80.0 forecast, 75.6 previous
•17:00 U.S. Baker Hughes Oil Rig Count 531 previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro declined on Friday as solid U.S. job data boosted dollar across the board. U.S. job growth continued at a brisk clip in March, with the unemployment rate falling to a new two-year low of 3.6% and wages re-accelerating, positioning the Federal Reserve to raise interest rates by a hefty 50 basis points in May.The Labor Department's closely watched employment report's survey of establishments showed that nonfarm payrolls increased by 431,000 jobs last month. Data for February was revised higher to show 750,000 jobs added instead of the previously reported 678,000. solid in March. Immediate resistance can be seen at 1.1069 (5DMA), an upside break can trigger rise towards 1.1162(382%fib).On the downside, immediate support is seen at 1.1027 (23.6%fib), a break below could take the pair towards 1.1000 (Psychological level).
GBP/USD: The British pound edged lower against the U.S. dollar on Friday and was on track for a weekly loss of around 0.5%, as optimism surrounding peace talks in Ukraine faded, while UK manufacturing growth hit a 13-month low. The S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) fell to 55.2 in March, revised down from a preliminary reading of 55.5 and below the 58.0 recorded in February. At 13:50 GMT, sterling was down 0.33% against the dollar to $1.3093. Immediate resistance can be seen at 1.3152 (38.2%fib), an upside break can trigger rise towards 1.3211 (50%fib).On the downside, immediate support is seen at 1.3070 (23.6%fib), a break below could take the pair towards 1.3003(Lower BB).
USD/CHF: The dollar rose against the Swiss franc on Friday after robust U.S. jobs data increased hopes that Federal Reserve will make an interest rate hike of up to 50 basis points next month. The Federal Open Market Committee (FOMC) will next decide policy at a May 3-4 meeting, with CME Group's FedWatch tool showing a 68.8% chance of a half-percentage-point rate increase. That would follow on from a quarter-point hike on March 16, when the Fed embarked on a new tightening cycle. At (GMT 13:55), greenback rose 0.49% versus the Swiss franc to 0.9268. Immediate resistance can be seen at 0.9274(5DMA), an upside break can trigger rise towards 0.9289 (23.6%fib).On the downside, immediate support is seen at 0.9252(38.2% fib), a break below could take the pair towards 0.9223 (50%fib).
USD/JPY: The dollar strengthened against the yen on Friday as solid US jobs data increased expectation for Federal Reserve to raise interest rates by a hefty 50 basis points in May. The Labor Department's closely watched employment report's survey of establishments showed that nonfarm payrolls increased by 431,000 jobs last month. The data will help the US Federal Reserve determine the path for interest rates in the world’s biggest economy. The unemployment rate dropped to 3.6%, the lowest since February 2020, from 3.8% in February. Strong resistance can be seen at 123.12 (23.6%fib), an upside break can trigger rise towards 124.34(29th March high).On the downside, immediate support is seen at 122.27(38.2%fib), a break below could take the pair towards 121.56(50%fib).
Equities Recap
European stocks edged up slightly in cautious trade on Friday after Ukraine's President Volodymyr Zelensky warned that Russia is consolidating and preparing "powerful strikes" in the country's east and south, including besieged Mariupol,
At (GMT 13:46),UK's benchmark FTSE 100 was last trading up at 0.32 % percent, Germany's Dax was up by 0.25 %percent, France’s CAC finished was up by 0.45% percent.
Commodities Recap
Gold eased on Friday and headed for a weekly decline as a stronger dollar and higher Treasury yields dented the appeal of zero-yield bullion.
Spot gold was down 0.5% at $1,928.06 per ounce by 1102 GMT. U.S. gold futures GCv1 fell 1% to $1,933.70.
Oil prices dipped in and out of negative territory on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States.
Brent crude futures were down 6 cents, or 0.1%, to $104.65 a barrel by 1055 GMT. U.S. West Texas Intermediate (WTI) crude futures were down 37 cents, or 0.4%, at $99.91.