Just a quickie heads up (more to come later) – the Global Dairy Trade auction is today during London time Results should begin to dribble in from after midday UK time
Headline is here from earlier: US President Trump said to want a NAFTA deal (in principle) within 2 weeks More now, detail via CNBC: Trump pushing to announce a tentative new North American Free Trade Agreement within two weeks, Bloomberg reported Monday
March Markit PMI – Highest final reading since March 2015 – Prelim reading was 55.9 – Prior 55.5 – Employment 54.7 vs 55.0 prior – Output 55.2 vs 55.5 prior A tad below the consensus but another very strong manufacturing reading, despite all the worries from the sector.
Manufacturing data from Canada – Prior was 55.6 (no consensus estimate) – Output 55.0 vs 54.8 prior – New orders 55.6 vs 55.6 prior – Quantity of purchases 57.0 vs 56.2 (highest since 2011) Solid report but very close to expectations and it’s generally not a market mover anyway.
USD/JPY touches 106.45 Some liquidity is back online with US markets generally open for the day. Stock futures are negative after China put tariffs on 128 US products in retaliation for Trump’s aluminum and steel moves.
Here’s what’s on the slate once US markets open 2 April Canadian markets closed but US open fyi I’m heading out of here now. Easter Holiday football beckons. Adam/Greg will be along in due course to bring you the US coverage.See you all tomorrow and I wish you good trading meanwhile as always.
Russian foreign minister out and quoted by Reuters 2 April – at least in the Cold War there were some rules – Britain and US have dropped all propriety – how far the escalation goes does not depend on us This latest spat is going away anytime soon.
50% and 200 hour MA broken targeted With the stock market continuing to melt away (Nasdaq down -3.0% and Dow down -615 points), the flow into the JPY continues. The USDJPY is trading at new session lows and in the process, is testing the 200 hour MA and the 50% retracement at 105.80. In fact,…
Up from the Thursday high The Atlanta Fed GDP estimate for 1Q GDP growth was raised to 2.8% from 2.4% (reported on Thursday). In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2018 is
President Trump continues Amazon bashing. President Trump continued to target Amazon today, and it is having an impact on other stocks (or so it seems).