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Weekly Market Report

01 Apr 2019

01 April 2019

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The Market Last Week

Global equities ended mostly higher last week, amid renewed optimism over US-China trade talks.


UK Markets ended the week in positive territory, as the British Pound weakened, after the Parliament for the third time rejected Prime Minister Theresa May’s Brexit deal.

UK’s BBA loans for house purchase unexpectedly fell in February.

Mortgage approvals fell more than market expectations in February.

Current account deficit widened in 4Q18.

Gross domestic product (GDP) advanced in line with market forecast on a quarterly basis in the fourth quarter of 2018.

Net consumer credit registered a more-than-expected rise in February.

The Nationwide house price index unexpectedly climbed on an annual basis in March.

The GfK consumer confidence remained unchanged in March.




European Markets ended the week on a positive footing, following the rejection of Theresa May’s key Brexit deal and amid reports of US-China trade developments.

The Eurozone’s consumer confidence index advanced in line with market forecast in March.

The economic confidence index in the Eurozone fell more-than-expected for a ninth consecutive month in March, marking its lowest level since 2016.

The Eurozone’s business climate indicator declined more than market anticipations in March.

Germany’s Ifo business climate index unexpectedly climbed in March, marking its first rise since August 2018.

The Ifo business expectations index in Germany advanced more than market anticipations in March.

Germany’s Ifo current assessment index surprisingly rose in March.

Retail sales in Germany unexpectedly advanced on a monthly basis in February.

Germany’s unemployment rate declined meeting market forecast in March, hitting its lowest rate since the German reunification in 1990.

The GfK consumer confidence index in Germany unexpectedly dropped in April.

Germany’s consumer price index (CPI) rose less-than-anticipated on a yearly basis in March.




US Markets ended the week in green, amid rising optimism over progress in the US-China trade negotiations.

The final GDP advanced at a slower-than-expected pace on a quarterly basis in the fourth quarter of 2018.

Pending home sales recorded an unexpected drop on a monthly basis in February.

The Chicago Fed national activity index recorded a fall in February.

The Dallas Fed manufacturing index declined more than market expectations in March.

The CB consumer confidence index recorded an unexpected drop in March.

Housing starts fell more than market expectations to its lowest level in 8 months on a monthly basis in February.

Building permits registered a decline on a monthly basis in February.

The Richmond Fed manufacturing index dropped in March.

The Chicago Fed PMI fell more than market expectations in March.

Current account deficit widened more than market forecast in 4Q18, marking its highest level in 10 years.

The house price index advanced more-than-anticipated on a monthly basis in January.

The MBA mortgage applications recorded an advance in the week ended 22 March 2019.

Trade deficit narrowed more than market expectations in January.

New home sales unexpectedly advanced on a monthly basis in February.

The Michigan consumer sentiment index climbed more-than-expected in March.

Initial jobless claims unexpectedly eased in the week ended 23 March 2019.




Asian Markets ended weaker last week.

Australia’s AiG performance of manufacturing index eased in March.

In Australia, the NAB business confidence index recorded a flat reading in March, marking its weakest reading since July 2013.

Australia’s ANZ Roy Morgan weekly consumer confidence index fell in the week ended 24 March 2019.

Australia’s NAB business conditions index advanced in March.

Private sector credit demand in Australia climbed more than market forecast on a monthly basis in February.

Australia’s CBA manufacturing PMI recorded an unchanged reading in March.

China’s Caixin manufacturing PMI climbed more than market forecast in March.

Japan’s final Markit manufacturing PMI recorded a rise in March.

The Tokyo CPI in Japan rose in line with market expectations on an annual basis in March.

Japan’s jobless rate registered a decline in February.

Preliminary industrial production in Japan advanced meeting market expectations on a monthly basis in February.

Japan’s housing starts unexpected advanced in on a yearly basis in February.

Vehicle production rebounded on an annual basis in January.

Japan’s retail trade recorded a less-than-anticipated rise on a monthly basis in February.




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Currency Update

The EUR ended lower against the USD, after Germany’s consumer price inflation slowed on an annual basis in March.
The British Pound ended weaker against the greenback, after Prime Minster, Theresa May’s Brexit plan was rejected by the British Parliament for the third time.
The US Dollar ended stronger against its major counterparts last week, following dovish policy stance by other central banks.


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ECB President signals a possible delay in rate increases

The European Central Bank (ECB) President, Mario Draghi, hinted that there could be another delay in rate hikes, if required and expressed concerns over the impact of negative interest rates. Further, he stated that he expects rates to remain at their present levels at least through the end of 2019. Meanwhile, Draghi stated that a temporary slowdown in the Eurozone does not necessarily foreshadow a serious recession.


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The Week Ahead

Going ahead this week, investors will keep a tab on the US advance retail sales, the ISM manufacturing index, durable goods orders, ADP employment change, the Markit manufacturing and services PMI along with change in non-farm payrolls and unemployment rate for further direction. Additionally, the Eurozone CPI, retail sales, the Markit manufacturing and services PMI across the Eurozone and the UK along with Germany’s factory orders, the Markit construction PMI and industrial production will attract significant investor attention.


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