Posted at 27 April 2023 / Categories Market Roundups
Market Roundup
•Spanish Unemployment Rate (Q1) 13.26%, 12.90% forecast, 12.87% previous
•Sweden Apr Manufacturing Confidence 101.6, 102.8 forecast, 103.4 previous
•Spanish Mar Retail Sales (YoY) 9.5%, 0.7% forecast, 4.0% previous
•Italian Apr Business Confidence 103.0, 104.0 forecast, 104.2 previous
•EU Apr Selling Price Expectations 12.0, 16.0 forecast,18.1 previous
•EU Apr Consumer Inflation Expectation 15.1, 18.0 forecast,18.8 previous
•EU Apr Business Climate 0.54, 0.70 previous
•EU Apr Business and Consumer Survey 99.3, 99.9 forecast, 99.2 previous
•EU Apr Industrial Sentiment -2.6, 0.1 forecast,-0.5 previous
•EU Apr Services Sentiment 10.5,9.4 forecast,9.6 previous
•EU Apr Consumer Confidence -17.5,-17.5 forecast,-19.1 previous
Looking Ahead Economic Data (GMT)
•12:30 US Real Consumer Spending (Q1) 1.0% previous
•12:30 USGDP Sales (Q1) 2.3% forecast, 1.1% previous
•12:30 US PCE Prices (Q1)0.5% forecast, 3.7% previous
•12:30 US GDP (QoQ) (Q1) 2.0% forecast, 2.6% previous
•12:30 US Core PCE Prices (Q1) 4.70% forecast, 4.40% previous
•12:30 US GDP Price Index (QoQ) (Q1) 3.7% forecast,3.9% previous
•12:30 US Continuing Jobless Claims 1,878K forecast, 1,865K previous
•12:30 US Initial Jobless Claims 248K forecast, 245K previous
•12:30 US Jobless Claims 4-Week Avg. 239.75K previous
•14:00 US Mar Pending Home Sales Index 83.2 previous
•14:00 US Pending Home Sales (MoM) 0.5% forecast,0.8% previous
•14:30 US Natural Gas Storage 75B forecast,75B previous
•15:00 US Apr KC Fed Composite Index 0 forecast,0 previous
•15:00 US Apr KC Fed Manufacturing Index 3 forecast,3 previous
•15:30 US 4-Week Bill Auction 3.190% previous
•15:30 US 8-Week Bill Auction 4.850% previous
Looking Ahead Events And Other Release(GMT)
•No Events Ahead
Fxbeat
EUR/USD: The euro hovered near a one-year high against the dollar on Thursday, as Europe's resilient economy contrasted with banking risks and the debt ceiling standoff in the United States Germany again revised up growth forecasts on Wednesday, and a survey showed a continued pickup in consumer confidence. By contrast, U.S. capital goods spending fell more than expected in the latest data overnight, adding to jitters about a downturn. The mood was not helped by First Republic Bank's (FRC.N) continued slump, or the ongoing wrangling over an extension to the U.S. debt ceiling. Traders will look closely at the U.S. gross domestic product figures for the first quarter, due out later on Thursday, for any signs of a slowdown .Immediate resistance can be seen at 1.1058 (Daily high), an upside break can trigger rise towards 1.1080(Higher BB).On the downside, immediate support is seen at 1.0976 (5DMA), a break below could take the pair towards 1.0912(April 19th low).
GBP/USD: Sterling steadied against the dollar on Thursday, after two volatile days largely cancelled each other out, leaving the British currency not far off a 10-month peak. Markets have largely been in a wait-and-see mode in the results-heavy week, with investors on the lookout for clues on the impact of monetary tightening on earnings.Investors also await U.S. first-quarter GDP data due later in the day for clues on the health of the world's largest economy. The pound was flat at $1.2471, having risen 0.48% on Wednesday and fallen 0.58% on Tuesday as markets vacillated over whether U.S. banking jitters and a standoff over the debt ceiling was good or bad news for the dollar. Immediate resistance can be seen at 1.2481 (Daily high), an upside break can trigger rise towards 1.2513(Higher BB).On the downside, immediate support is seen at 1.2450(5DMA), a break below could take the pair towards 1.2352(38.2%fib).
USD/CHF: The dollar strengthend against Swiss franc on Thursday as investors awaited U.S. data for hints on the Federal Reserve's policy trajectory. Investors will also keep an eye on the U.S. quarterly GDP figures and weekly jobless claims due at 1230 GMT, followed by the core personal consumption expenditures index on Friday. The greenback has fallen more than 11% since hitting a 20-year high in September. Analysts say it has been driven by a drop in U.S. inflation, the impending end of the Federal Reserve's rate-hiking cycle Immediate resistance can be seen at 0.8975 (38.2%fib), an upside break can trigger rise towards 0.9005 (19th April High).On the downside, immediate support is seen at 0.8910(5DMA), a break below could take the pair towards 0.8895(23.6%fib).
USD/JPY: The dollar was little changed against Japan's yen on Thursday as ongoing rumbles in the U.S. banking system kept investors cautious ahead of a barrage of top-tier U.S. data. The Atlanta Federal Reserve's GDPNow, which tracks how incoming data influences estimated gross domestic product (GDP), had showed that the estimate for the first-quarter growth is now at an annualised 1.1%, sharply down from 2.5% just a week ago.That suggests there may be a downside risk to U.S. first-quarter GDP data, due later on Thursday. Strong resistance can be seen at 134.10(5DMA), an upside break can trigger rise towards 135.50(23.6%fb).On the downside, immediate support is seen at 133.10 (23.6%fib), a break below could take the pair towards 132.13 (April 14th low)
Equities Recap
European shares edged lower on Thursday, despite a raft of positive corporate earnings, as troubles at U.S. lender First Republic Bank continued to rattle investors over the global banking sector.
At (GMT 11:00),UK's benchmark FTSE 100 was last trading down at 0.09 percent, Germany's Dax was up by 0.05 percent, France’s CAC was trading up by 0.30 percent.
Commodities Recap
Prices of safe-haven gold rose on Thursday as economic worries returned to the fore and traders awaited U.S. data for hints on the Federal Reserve's policy trajectory.
Spot gold was up 0.6% at $2,000.43 an ounce by 1024 GMT and U.S. gold futures rose 0.6% to $2,007.60.
Oil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month.
Brent crude was trading at $77.72 a barrel, up 3 cents, or 0.04%, by 1033 GMT, while U.S. West Texas Intermediate crude rose 1 cent or 0.01% to trade at $74.31.