A steady stream of economic data will flow through the financial markets on Friday, with headline reports from Europe and the United States. What in particular will currency traders be eyeing today? Find out in this 13 April Market Moving Fundamental Events Analysis.
13 April, HotForex – Bund yields are marginally lower around the 0.51% mark in opening trade, trailing Treasury yields, which are up from earlier lows, but still down -0.9 bp at 2.827%.
European Market Outlook
Eurozone peripherals are mostly outperforming and stock futures are cautiously moving higher in Europe, while U.S. futures have started to pare earlier losses. The outlook on global trade may be more sanguine, but caution dominates as another tumultuous week draws to a close.
German inflation data at the start of the session brought no surprise and confirmed the rebound in the headline rate from the dip in February. The calendar also holds final Spanish HICP readings and Eurozone trade.
The yen weakened moderately while most of the other main currencies posted narrow ranges in pre-London trading in Asian markets. USDJPY lifted to a fresh six-week high of 107.58, while EUR-PY lifted toward trend highs and AUDJPY clocked a one-month high at 83.69.
A rebound in global markets aided the yen lower as more of its safe haven premium unwound. The Nikkei closed some way off its highs following a late-morning selloff, but still with a 0.55% gain. Trump’s U-turn on TPP went down well in most Asian markets.
News and data were thin on the ground today in Japan and Asia. EURUSD consolidated in the lower 1.2300s after yesterday’s dollar-driven losses. The improved risk appetite gave the Aussie dollar a lift, which rose to a one-month high at 0.7795 against the U.S. dollar.
Main Macro 13 April Market Moving Fundamental Events Analysis
In particular, currency traders will be eyeing final inflation numbers from Germany and a closely-watched sentiment indicator from the United States.
- EU Trade Balance – The Eurozone trade balance should post a sa trade surplus of EUR 20.2 bln in February, from EUR 19.9 bln in the previous month.
- Prelim UoM Consumer Sentiment – Consumer Sentiment rose in March to a 14-year high of 101.4 from 99.7 in February.This compares to a prior 13-year high of 100.7 in October, and a low of 55.7 in August ’11. The March reading was the highest level since January, ’04. In April it is expected to fell slightly, down to 100.5.
- Fed of Boston President Rosengren, Bullard and FOMC Member Kaplan Speech
This article about 13 April Market Moving Fundamental Events Analysis was written by Andria Pichidi, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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