Collinsonfx Weekly Marketing Commentary and Calendar

Weekly Market Commentary

The University of Michigan Economic Sentiment report was positive, but weaker than expected. US Building Permits increased 2.7%, while Housing Starts exploded, increasing 19.4% for the previous month. US earnings season is going well and economic confidence is pushing equity markets to record and historical highs. The rising threat of inflation and deficit/debt have been relegated to the back burner. The US 10 year Bond Yield trades below 1.6% and the US Dollar remains weak.
 
The EUR traded 1.1980, while the GBP broke back above 1.3800, supported by the mired reserve. Chinese Retail Sales surged to a 34.2% increase, while GDP increased by 18.3%, annually. Chinese Industrial Production was up 14.1%, but this missed expectations, as supply issues and input costs come into play. The commodity currencies settled, with the AUD drifting to 0.7730, while the NZD traded below 0.7150.
 
The coming week will be off to a slow start, in terms of economic data releases, but the momentum will build. There will be a lot of emphasis on global growth and inflation numbers, while PMI data will come into play later in the week.

Weekly Market Calendar

19/4 NZ Services PMI, Japan Trade Exports/Imports, Australia New Home Sales, Japan Industrial Production, EU Current Account, EU Construction
 
20/4 RBA Minutes, German PPI, UK Employment
 
21/4 NZ Inflation, Australia Retail Sales, UK Inflation, UK PPI, UK Retail Prices, US Weekly Mortgage Applications
 
22/4 Bank of Canada Rate Decision, France Business Confidence, EU Budget, EU Debt/GDP, ECB Rate Decision, Chicago Fed National Activity Index, US Weekly Jobless Claims
 
23/4 EU Consumer Confidence, US Existing Home Sales, Kansas City Fed Manufacturing Index, Australia Services/Manufacturing/Composite PMI, UK Consumer Confidence, Japan Inflation, Japan Services/Manufacturing/Composite PMI, NZ Credit Card Spending, UK Retail Sales, UK/France/German/EU Services/Manufacturing/Composite PMI, US Services/Manufacturing/Composite PMI