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Weekly Market Report

18 Mar 2019

18 March 2019

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The Market Last Week

Global equities ended mostly firmer last week, amid reports of progress in US-China trade negotiations.


UK Markets ended the week in positive territory, after British lawmakers voted to reject a no-deal Brexit, raising hopes for a delay in Brexit.

UK’s GDP accelerated more than market forecast on a monthly basis in January.

Manufacturing production recorded a more-than-expected rise on a monthly basis in January.

Industrial production climbed more than market anticipations on a monthly basis in January.

Construction output jumped more-than-expected on a monthly basis in January.

The Rightmove house prices recorded a rise on a monthly basis in March.

Trade deficit widened more than market forecast in January.

The RICS house price balance dropped more-than-anticipated in February.




European Markets ended the week on a positive footing, after the UK lawmakers voted to seek Brexit delay for at least three months.

The Eurozone’s industrial production climbed more than market forecast on a monthly basis in January.

The consumer price index (CPI) in the Eurozone advanced in line with market expectations on an annual basis in February.

Germany’s industrial production unexpectedly dropped on a monthly basis in January.

Current account surplus in Germany narrowed in January.

Germany’s trade surplus unexpectedly narrowed in January.

In Germany, the CPI advanced less than anticipated an annual basis in February, registering an advance for the first time in four months.




US Markets ended the week in green, boosted by gains in technology sector stocks and amid renewed optimism over US-China trade negotiations.

The US advance retail sales recorded an unexpected rise on a monthly basis in January.

Business inventories advanced in line with market forecast in December.

Average weekly earnings climbed on a yearly basis in February.

The producer price index (PPI) advanced meeting market forecast on an annual basis in February.

The MBA mortgage applications rebounded in the week ended 8 March 2019.

Durable goods orders recorded an unexpected advance in January.

Construction spending jumped more than market expectations on a monthly basis in January, recording its highest level in 9 months.

The JOLTS job openings registered an unexpected advance in January.

The Michigan consumer sentiment index climbed more than market expectations in March.

Manufacturing production unexpectedly declined for a second consecutive month on a monthly basis in February.

The Empire State manufacturing index unexpectedly fell in March.

Industrial production rose less than market expectations on a monthly basis in February.

The CPI rose at its slowest pace since September 2016 on an annual basis in February.

The NFIB small business optimism index advanced less than market forecast in February.

Initial jobless claims climbed more than market forecast in the week ended 9 March 2019.

New home sales unexpectedly declined on a monthly basis in January.




Asian Markets ended firmer last week, mirroring gains in their US counterparts.

Australia’s ANZ Roy Morgan weekly consumer confidence index declined in the week ended 10 March 2019.

The NAB business conditions index in Australia registered a drop in February.

Australia’s NAB business confidence index fell in February.

Home loans in Australia eased less than market expectations on a monthly basis in January.

In Australia, the Westpac consumer confidence index dropped in March.

Australia’s consumer inflation expectations advanced in March.

China’s industrial production (YTD) rose at its slowest pace since early 2002 on a yearly basis in February.

Retail sales (YTD) in China advanced at par with market forecast on an annual basis in February.

Japan posted a trade surplus in February.

Final industrial production in Japan fell on a monthly basis in January.




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Currency Update

The EUR ended firmer against the USD, after the Eurozone’s annual inflation rose in line with market forecast in February.
The British Pound ended stronger against the greenback, after the UK parliament voted against a no-deal Brexit and also in favour of seeking an extension to Brexit delay.
The US Dollar ended weaker against its major counterparts last week, ahead of the Federal Reserve interest rate decision.


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BoJ: Central Bank downgrades views on exports and output

The Bank of Japan (BoJ), in its latest monetary policy decision, kept its benchmark interest rate unchanged at -0.1%, as widely expected. The BoJ indicated that the growth in exports and factory output will decline further weighing on the country’s economic recovery. Additionally, the bank warned that heightening overseas risks could threaten the country’s fragile economic recovery.


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The Week Ahead

Going ahead this week, investors will keep a tab on the FOMC interest rate decision, the US NAHB housing market index, factory orders, durable goods orders, the MBA mortgage applications, initial jobless claims, leading index and the Philadelphia Fed business outlook along with existing home sales, wholesale inventories, monthly budget statement, the Markit manufacturing and services PMI for further direction. Additionally, the Bank of England interest rate decision, UK’s CPI, PPI, house price index, Rightmove house prices, claimant count rate, average weekly earnings, ILO unemployment rate, public sector net borrowing and retail sales data along with the European Central Bank’s economic Bulletin, the Eurozone’s trade balance, construction output, the ZEW survey economic sentiment index, the Markit manufacturing and services PMI across the Eurozone will be on investors’ radar.


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