Daily Update - 04th Apr 2018
Australia kept their Interest rate unchanged while in their statement it was mentioned that there is concern about direction in international trade policy with US, as trade tensions continue to develop front and center. Sterling remained resilient throughout the day and was supported by better than expected Markit Manufacturing PMI. Dollar gained advantage as risk aversion dominated the first half of Tuesday but began easing in the European session. Wall Street changed course and gained some ground, stalling short, however, of reversing Monday's losses. In the data front, German Retail Sales came slightly below market's expectations, pushing the euro down. Looking ahead today will be another busy day in the markets with reports released from Australia, Euro Zone and USA. Early morning Australia will release Retail Sales and Building Permits. Retail sales figures will be closely watched by investors as the figure is expected to rise by 0.4% indicating a growth in retail segment. Euro zone will release key data in terms of CPI and Unemployment, where CPI measure changes in purchasing trends and inflation in the Euro Zone. Given the current soft tone of the Euro, a reading below expected could lead to a bearish breakout. The latter half of the day belongs to USA with a set of mid-tier data being released. ADP Employment will make headways for Fridays all important Nonfarm payrolls. ISM Non-manufacturing PMI & Factory Orders will also move the markets as February’s employment slowed down, but new orders and production grew faster. Hence February figures, eased the price pressures while the economic outlook and business conditions remained positive for USA. Yesterday’s Market
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