Collinsonfx Weekly Marketing Commentary and Calendar

Weekly Market Commentary

US equity markets closed the week strongly, inspired by the confidence exuded by Central Bankers, the IMF and the World Bank. These organisations met with global Finance Ministers to discuss matters of import. The unanimous report was one of optimism, for global economies and promises of a strong second half of 2021, for growth and recovery. The IMF have taken the opportunity to bolster their SDR fund by a cool $650 Billion, which went largely unnoticed, but has huge global repercussions. US Bond Yields halted their slide overnight, but the US Dollar remained soft. The EUR traded up to 1.1900, while the GBP tests 1.3700, impacted by the AstraZeneca controversy.
 
US PPI spiked up to 3.1%, reflecting the input cost rises, which will translate into inflation. The CPI will reflect this, although key metrics are not included in many measures, to disguise the extent of inflationary pressures. It is there and cost of living pressures are felt in the supermarket, housing market etc. The trade exposed commodity currencies settled to close out the week, with the AUD drifting to 0.7620, while the NZD slipped back below 0.7050.
 
The coming week is a plethora of global growth and inflation numbers. The RBNZ will unveil their latest monetary statement. It will leave rates unchanged and pledge further QE, until the cows come home.

Weekly Market Calendar

12/4 Japan PPI, EU Retail Sales, France Retail Sales
 
13/4 US CPI report, US Budget, NZ Business Confidence, NZ Credit Card Spending, Australia New Home Sales, Australia Business Confidence, China Trade Exports/Imports, UK GDP, UK Trade, UK Industrial/Manufacturing Production, German/EU ZEW Economic Sentiment, NFIB Small Business Optimism, US CPI
 
14/4 Australia Consumer Confidence, RBNZ Interest Rate Decision, EU Industrial Production, US Weekly Mortgage Applications
 
15/4 Beige Book, NZ CPI, Australia CPI, Australia Employment, German CPI, France CPI, US Retail Sales, US Weekly Jobless Claims, Philly Fed Survey, Empire State Report, US Industrial/Manufacturing Production
 
16/4 NAHB Home Market Index, NZ Business PMI, TANKAN Report, China House Price Index, China GDP, China Industrial Production, China Retail Sales, China Employment, EU Trade, EU CPI, US Building Permits, US Housing Starts, University of Michigan Economic Sentiment