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Hotforex.com - MACRO EVENTS & NEWS OF 5th April 2018.
« on: April 05, 2018, 11:56:58 AM »
Date : 5th April 2018.

MACRO EVENTS & NEWS OF 5th April 2018.




FX News Today

European Fixed Income Outlook: 10-year Bund yields are up 1. 3 bp at 0. 509% in opening trade, after a broad move higher in long yields across Asia.  10-year JGB yields are up 1. 1 bp at 0. 030%, the 10-year Treasury yield is up 0. 7 bp at 2. 81%, as stock markets continued to move higher during the Asian session after a late rally in the U. S.  U. S.  and European stock futures are also moving higher, with the DAX future up 1. 25% and pointing to early gains in the index, which still closed with a loss yesterday.  Weaker than expected German manufacturing orders at the start of the session failed to dent optimism that an all out trade war can be avoided, although trade rhetoric will keep markets on tenterhooks and volatility high.  Today’s calendar still has Eurozone and U. K.  services PMIs as well as Eurozone producer prices and retail sales.

FX Update: The dollar has been trading firmer so far today, correlating with an improvement in risk appetite, with the flipside of the sentiment seeing the yen underperform moderately as the Japanese currency seeing some of its safe haven premium unwind.  Japan’s Nikkie 225 closed with a 1. 5% gain, while S&P futures are showing a 0. 4% gain after the cash index closed out the regular session on Wall Street yesterday with a 1. 2% advance.  The view, or hope perhaps, is that the U. S.  and China are more likely to negotiate than actually implement a trade war.  The announced tariff hikes haven’t been implemented yet, and there is time in place for talks to happen.  Proof will be in the pudding, however, and investors are likely to remain wary.  USDJPY lifted above 107. 00, logging a three-week high of 107. 02.  EURUSD ebbed under 1. 2300, towards 1. 2250, seemingly breaking free of the apparent orbit of recent sessions around the 1. 2300 level.  The greenback also posted gains versus the antipodean dollars and most currencies in the emerging and newly-development world.

Charts of the Day



Main Macro Events Today

* EU Service PMI – The services reading is projected at 55. 3 and is off of the 58. 0 high from January.  These would leave the composite at 55. 5, lower than the 57. 1 in February, as well as the 58. 8 January high.

* UK Service PMI – anticipated t0 to slip to 54. 0 from 54. 5.

* Canadian Trade Balance – The trade deficit is expected to widen to -C$2. 1 bln in February from -C$1. 9 bln in January.  Exports are seen improving 0. 5% m/m after the 2. 1% drop in January.  Imports are projected to expand 0. 8% after a 4. 3% plunge.

* US Unemployment Claims  –  seem at 225K from 215K last week.


Support and Resistance levels

   

Always trade with strict risk management.  Your capital is the single most important aspect of your trading business.

Please note that times displayed based on local time zone and are from time of writing this report.

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Andria Pichidi
Market Analyst
HotForex


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Hotforex.com - MACRO EVENTS & NEWS OF 5th April 2018.
« on: April 05, 2018, 11:56:58 AM »

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