While Friday’s jobs report is the near term focus, attention is already turning to CPI on April 12.
USD Initial wobbles and then stumbled to success. 101.4 However, the data was not recovered in time to be able to close at 101.75. Another data omission, another drop in bonds. Treasuries All rallied Continued after weaker ISM services ADP numbers Expectations for a Slowing economy will keep the FOMC hawks in checkIf not in May then in June. Combining risk aversionThe move was aided by lower expectations of Fed tightening, technicals, and short covering. Wall Street All sessions were mixedamp; Asian equities As investors turned their attention to the possibility of a recession, the US fell and the US lowered the stock market. German industrial production soared by 2.0% m/m There were signs of activity soaring in February, further indicating that Germany will emerge from a technical recession. The UK’s house prices rose Unexpectedly, March.
Overnight – China & HK reopened But, stocks in the regions remained high ahead of Easter Weekend. – Chinese Services PMI The growth was strong AUD trade balance It was better than I expected, but it was heavier than I expected. AUD & NZD.
- FX – USDIndex range 101.11-101.29. EUR and GBP are less stable than USD, but they remain above. 1.0900 1.2450 respectively. Also available in JPY…