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Weekly Market Report

04 Feb 2019

04 February 2019

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The Market Last Week

Global equities ended mostly firmer last week, amid strong earnings reports and easing global trade tensions.


UK Markets ended the week in positive territory, amid optimism over US-China trade deal.

UK’s mortgage approvals fell less than market forecast in December.

The GfK consumer confidence index remained unchanged in January .

The Nationwide house price index advanced more than market forecast on a monthly basis in January.

Net consumer credit recorded a less-than-anticipated rise in December.

The Markit manufacturing PMI declined more than market forecast in January, hitting its lowest level in three months.




European Markets ended the week mostly higher, on the back of upbeat corporate results and key economic reports.

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

The economic confidence index in the Eurozone recorded a more-than-expected drop in January, hitting its lowest level since November 2016.

Consumer confidence index in the Eurozone rose in line with market expectations in January.

Gross domestic product (GDP) in the Eurozone rose at par with market forecasts on a quarterly basis in the fourth quarter of 2018.

The consumer price index (CPI) in the Eurozone climbed in line with market anticipations on a yearly basis in January.

The Eurozone’s Markit manufacturing PMI dropped in line with market expectations in January.

Unemployment rate in the Eurozone remained unchanged in December.

Germany’s CPI advanced less than market forecast on an annual basis in January.

Monthly retail sales in Germany declined more than market expectations in December, recording its fastest rate of drop in 11 years.

Germany’s Markit manufacturing PMI fell more than market forecast in January.

The GfK consumer confidence index in Germany registered an unexpected advance in February.

Germany’s unemployment rate remained unchanged in January.




US Markets ended the week in green, buoyed by stronger than expected US jobs data and upbeat corporate earnings results.

The US Chicago Fed National activity index climbed in December.

The Dallas Fed manufacturing activity index rebounded in January.

The ADP private sector employment climbed more than market forecast in January.

Non-farm payrolls registered a more-than-expected rise in January, recording its largest gain since February 2018.

The ISM manufacturing PMI surprised with an advance in January.

The Markit manufacturing PMI jumped in line with market forecast in January.

Construction spending climbed more than market expectations on a monthly basis in December.

The consumer sentiment deteriorated for a third consecutive month in January, recording its lowest level in 18 months.

The MBA mortgage applications recorded a decline in the week ended 25 January 2019.

Pending home sales unexpectedly eased for a third straight month on a monthly basis in December.

Initial jobless claims jumped more than market expectations in the week ended 26 January 2019, marking its highest level since September 2017.

The Chicago Fed PMI recorded a more-than-anticipated drop in January.

Unemployment rate unexpectedly climbed to a seven-month high in January.

Average hourly earnings recorded a less-than-expected rise on a monthly basis in January.

The Michigan consumer sentiment index fell in January, marking its worst reading since Donald Trump was elected as President.




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

Australia’s CPI climbed more than market expectations on a yearly basis in 4Q18.

The producer price index (PPI) in Australia recorded a rise on a yearly basis in 4Q18.

Australia’s AiG performance of manufacturing index climbed in January.

Private sector credit in Australia rose less than market expectations on a monthly basis in December.

Australia’s CBA manufacturing PMI registered a drop in January.

Australia’s seasonally adjusted building approvals registered an unexpected drop on a monthly basis in December.

The NAB business confidence index in Australia remained unchanged in December.

Japan’s retail trade rose more than market forecast on a monthly basis in December.

Unemployment rate in Japan registered an unexpected drop in December.

Japan’s final manufacturing PMI dropped in January.

The consumer confidence index in Japan fell more than market expectations in January.

Japan’s preliminary industrial production fell more than market forecast on a monthly basis in December.

China’s manufacturing PMI unexpectedly climbed in January.

The manufacturing PMI in China fell more than market expectations in January.

China’s Markit services PMI dropped less-than-expected in January.




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Currency Update

The EUR ended firmer against the USD, after the Eurozone’s CPI advanced in line with market expectations.
The British Pound ended weaker against the greenback, after the British parliament voted against no-deal Brexit.
The US Dollar ended mostly weaker against its major counterparts last week, after the US Federal Reserve (Fed) pledged to remain patient with further interest rate hikes.


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Fed's signalled that it would remain “patient” on future rate hikes

The Fed, in its latest monetary policy meeting, kept its key interest rate unchanged at 2.50%. The central bank signalled that it would remain “patient” on interest rate increases in future. Further, the Fed revealed that it expects the economy to expand and enhance jobs growth. However, the central bank expressed concerns over growing uncertainty about the outlook.


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The Week Ahead

Going ahead this week, investors will keep a tab on the Bank of England’s interest rate decision, UK’s Markit construction PMI, Markit services PMI and the Halifax house price index along with the US factory orders, durable goods orders, trade balance, the Markit services PMI, the MBA mortgage applications, initial jobless claims, consumer credit and wholesale inventories for further indication. Additionally, the Eurozone’s PPI, Sentix investor confidence index, retail sales and the Markit services PMI across the Eurozone along with Germany’s factory orders, the construction PMI, industrial production, trade and current account balance will attract significant investor attention.


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