At his time of the week, market liquidity is super thin. Liquidity improves as Asian centres come on online in following hours. Until then, take extra care as prices can move around on not too much at all.
US officials statement is on middle east issues, but also mention North Korea – says NK is prepared to discus denuclearisation of the Korean peninsula
NAFTA news boosts the loonie It was a twisty-turny week in the foreign exchange market but the Canadian dollar led the way on positive NAFTA news with a bit of help from today’s jobs numbers.
Sentiment continues to weaken Powell is still to come so the week isn’t over yet but sentiment continues to struggle. It’s all about trade and the latest headlines weren’t good.
Closing changes for the main bourses: – UK FTSE 100 -0.4% – German DAX -0.5% – French CAC -0.5% – Spain IBEX -0.8% – Italy MIB -0.3% On the week, it was a different story:
The latest tracking estimate from the New York Fed The tracking estimate for Q1 was bumped to 2.77% from 2.71%. “The positive impact of parameter revisions and a positive surprise from the ISM Prices index were mostly offset by negative surprises from nonfarm payroll employment and the ISM Employment index,” the NY Fed said in…
Trade war worries ramp up USD/JPY fell below 107.00 to a fresh daily low as stocks and Treasury yields sink. US 10-s are down 5.6 bps to 2.77% and the S&P 500 is down 33 points to 2629.
Weekly oil and gas drilling data from Baker Hughes – Highest since 2015 – Prior was 797 – Gas rigs 194 vs 194 prior Drill baby drill.
And it’s not looking like a Tiger market Here’s a bit of fun ahead of the weekend. Bloomberg’s Jacob Bourne notes that Tiger Woods has won the Masters golf tournament four times, in 1997, 2001, 2002 and 2005.
More upbeat comments – NAFTA teams will continue to work intensively in the days to come Trudeau also speaking: – Says will continue to stand up for Canadian jobs