Friday Overview of the Global Markets

Sera Akinci  |  April / 2. Week

This morning, the global equities and the US equity index futures markets hit a couple of bumps in the road. The inflation in Japan and the Eurozone came in below the expectations. Japan’s March core rate declined 0.4% year-on-year; which was actually a larger decline than expected.

Indices:

- Dow Jones Industrial Index (DJI) fell by 0.17% and DOW30 fell by 0.13%. The index flicked at 21,000 in few sessions in the beginning of the month.
- Nikkei index fell 0.81%.
- The MSCI Asia Pacific index fell by 0.3%. The regional index headed to achieve the best quarterly performance since March 2012 with 9.4% this quarter.
- In Japan, TOPIX index increased by 0.6% after falling 0.9% on Thursday. In Japan, core consumer prices increased slightly in February to ramp up output to the second month, while other data showed that industrial production grew faster than expected in February.
- In China, the Shanghai Composite Index increased 0.3%. China's official manufacturing industry purchasing managers index (PMI) data has climbed to its highest level in nearly five years and is another sign that things are going well on the world's second largest economy.
- The Hang Seng Index in Hong Kong fell 0.5% and the Hang Seng China Enterprises index also dropped by 0.6%.
- Australia's S & P / ASX 200 index fell 0.2% while South Korea's KOSPI index remained flat.
- In New Zealand, the S & P / NZX 50 Index rose by 0.4%.

Currencies:

- EURUSD increased by 0.9% followed by a three-day decline, and then continued sideways at 1.0675.
- GBPUSD decreased by 0.02% to 112.10.
- USDJPY decreased by 0.25%.
- AUDUSD decreased by 0.07%.
- ZAR (South African rand) lost 1.2% with the South African President Jacob Zuma took Finance Minister Pravin Gordhan from office and replaced Interior Minister Malusi Gigaba.

Bonds:

- US interest rates on 10-year Treasuries rose by four basis points on Thursday, then dropped slightly from a base of 2.42%.
- Australia's 10-year yields rose by one base point to 2.70%.
Commodities:
- Gold increased by 0.4% at 1,245.40.
- Silver increased by 0.8% at 18.218.
- Copper decreased by 1.03% 2.644.
- Crude Oil increased after a three-day rally which allowed it to rise above $ 50 per barrel. West Texas Petroleum fell 50.18 dollars with a 0.3% loss. Kuwait Oil Minister Issam Almarzooq stated that Kuwait and other countries supported the extension of the contract and that it will last until the end of the year.
- The natural gas increased by 0.91% at 3.220. 

What is expected next week?

- German manufacturing PMI announcement on Monday 3rd of April.
- Richmond Federal Reserve Bank President Jeffrey Lacker’s speech on Monday 3rd of April.
- UK manufacturing PMI will be announced on Monday 3rd of April.
- Australia will announce their interest rate decision on Tuesday 4th of April.
- US International trade announcement on Tuesday 4th of April.
- The Federal Reserve Governor; Daniel Tarullo’s speech on Tuesday 4th of April.
- ADP national employment report will be announced on Wednesday 5th of April.
- FOMC minutes will be announced on Wednesday 5th of April.
- The Energy Information Administration (EIA) will announce its weekly information on petroleum inventories in the US; which helps to determine prices for petroleum products on Wednesday 5th of April.
- FED Balance sheet will be announced on Wednesday 5th of April.
- Jobless claims; new unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time; on Thursday 6th of April.
- Non-farm payrolls will be announced in the US on Friday 7th of April.
- Canada will announce its employment change on Frid
 

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