|   Market Roundups


  |   Market Roundups


America’s Roundup: Dollar recovers from a nine-week low ,Gold hits two-week low,Wall Street gains,Oil climbs to fresh 6-week high on bullish demand-30th April,2021

Market Roundup

• US Real Consumer Spending (Q1) 10.7%, 2.3% previous

• US GDP Sales (Q1) 9.2% ,2.9% previous

• US GDP (QoQ) (Q1) 6.4% ,6.1%,4.3% previous

• US PCE Prices (Q1) 3.5%, 1.5% previous

• US Core PCE Prices (Q1) 2.30%, 2.40% forecast, 1.30% previous

• US Initial Jobless Claims 553K ,549K forecast, 547K previous

• US Jobless Claims 4-Week Avg 611.75K ,651.00K previous

• US Continuing Jobless Claims 3,660K, 3,614K, 3,674K previous

• US Mar Pending Home Sales Index 111.3,  110.3 previous

• US Mar Pending Home Sales (MoM ) 1.9%,5.0% forecast,-10.6% previous        

• US Natural Gas Storage 15B,11B forecast, 38B previous

• US 4-Week Bill Auction 0.000%, 0.005% previous

• US 8-Week Bill Auction 0.010% , 0.015% previous

Looking Ahead – Economic Data (GMT)

• 05:00 Japan Apr CPI Tokyo Ex Food and Energy (MoM)  0.2% previous

• 05:00 Japan Mar Unemployment Rate  2.9% forecast, 2.9% previous

• 05:00 Japan Apr Tokyo Core CPI (YoY)  -0.2% forecast, -0.1% previous

• 05:00 Japan Mar Jobs/applications ratio  1.09   forecast, 1.09 previous

• 05:00 Japan Apr Tokyo CPI (YoY) -0.2% previous

• 05:00 Japan Mar Industrial Production (MoM) -2.0% forecast, -1.3% previous 

• 05:00 Japan Foreign Bonds Buying 906.5B previous

•06:30 Chinese Apr Composite PMI  55.3 previous

•06:30 Chinese Apr Non-Manufacturing PMI  56.3 previous

•06:30 Chinese Apr Manufacturing PMI  51.7 forecast, 51.9 previous

•07:00 Australia PPI (YoY) (Q1) -0.1% previous

•07:00 Australia Private Sector Credit (MoM)  0.2% previous

•07:00 Australia PPI (QoQ) (Q1) 0.5% previous

•07:00 Australia Mar Housing Credit  0.4% previous

•China April Caixin Manufacturing PMI 50.8 forecast, 50.6 previous

Looking Ahead - Economic events and other releases (GMT)

• No significant events

Currency Summaries

EUR/USD: The euro strengthened against weaker dollar on Thursday after data showed Euro zone sentiment surges in April. Euro zone economic sentiment surged in April as vaccination campaigns against the coronavirus gathered speed, with sharp gains across all sectors of the economy that economists said marked the end of the pandemic-induced recession. Consumer optimism rose to -8.1 from -10.8, in line with an initial estimate published last week, and in retail trade to -3.1 from -12.2.Immediate resistance can be seen at 1.2150 (23.6%fib), an upside break can trigger rise towards 1.2200 (Psychological level).On the downside, immediate support is seen at 1.2101 (5DMA), a break below could take the pair towards 1.2061(38.2%fib).

GBP/USD: The pound was steady on Thursday as dovish Fed’s outlook weighed on greenback but political risks limit gains. Investors are watching political developments in Britain, as Prime Minister Boris Johnson is under pressure from a series of accusations about how he responded to the COVID-19 pandemic and who paid for the refurbishment of his flat, as well as an inquiry into leaks of private information from his office. At 19:00 GMT, it was at $1.3937, up 0.1% on the day and up just 0.5% on the week so far. Immediate resistance can be seen at 1.3978 (Daily high), an upside break can trigger rise towards 1.4015(23.6%fib).On the downside, immediate support is seen at 1.3905 (38.2%fib), a break below could take the pair towards 1.3815 (14DMA).

USD/CAD: The Canadian dollar strengthened to a three-year high against its U.S. counterpart on Thursday as U.S. President Joe Biden's push for additional government spending bolstered investor bets on global economic recovery. The loonie was trading 0.2% higher at 1.2289 to the greenback, or 81.37 U.S. cents, extending a string of gains since last Friday and the biggest advance among G10 currencies. It touched its strongest level since February 2018 at 1.2280. Canada's GDP report for February is due on Friday which could help guide expectations for the BoC. Immediate resistance can be seen at 1.2332(5DMA), an upside break can trigger rise towards 1.2407 (50%fib).On the downside, immediate support is seen at 1.2269 (38.2%fib), a break below could take the pair towards 1.2200 (Psychological level).

USD/JPY: The dollar gained against the Japanese yen on Thursday as greenback was lifted by a rise in U.S. Treasury yields after the government reported strong economic growth for the first quarter and an improvement in new jobless claims in the latest week. Gross domestic product increased at a 6.4% annualized rate in the first quarter, the data showed, the second-fastest growth since the third quarter of 2003. First-quarter growth was powered by consumer spending, which increased at a 10.7% rate versus a 2.3% pace in the fourth quarter. A separate report on Thursday showed U.S. initial claims for state unemployment benefits fell 13,000 to a seasonally adjusted 553,000 during the week ended April 24.. Strong resistance can be seen at 109.20 (Daily high), an upside break can trigger rise towards 109.47(38.2%fib).On the downside, immediate support is seen at 109.00(50%fib), a break below could take the pair towards 108.50(61.8%fib).

Equities Recap

European stocks ended lower on Thursday, even as bank shares hit 14-month highs on strong quarterly earnings, as a rise in euro zone bond yields saw investors lock in profits at near-record levels.

 UK's benchmark FTSE 100 closed down by  0.90% percent, Germany's Dax ended down by 0.07% percent, France’s CAC finished the day down by 0.03%percent.                             

The S&P 500 closed at a record high on Thursday, fueled by gains in Facebook following its strong earnings report, while investors awaited upcoming results from Amazon.

Dow Jones closed up by  0.71% percent, S&P 500 closed up by 0.68% percent, Nasdaq settled up by 0.22% percent.

Commodities Recap

Gold fell more than 1% on Thursday as U.S. Treasury yields gained on upbeat U.S. economic data, while a supply deficit lifted palladium to a fresh record peak, setting its sights on the $3,000 mark.

Spot gold  was down 0.7% to $1,768.26 per ounce by 1:41 p.m. EDT (1740 GMT), after hitting its lowest level since April 15 at $1,755.81. U.S. gold futures settled down 0.3% at $1,768.3.

Oil prices rose to fresh six-week highs on Thursday as strong U.S. economic data, a weak dollar and an expected recovery in demand outweighed concerns about higher COVID-19 cases in Brazil and India.

Brent futures rose $1.29, or 1.9%, to settle at $68.56 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $1.15, or 1.8%, to end at $65.01.

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