Yesterday stock markets of America showed a slight positive trend and closed in green zone. Dow Jones has grown slightly in 0.07% (20662.95), S&P 500 up 0.19% (2357.49), Nasdaq-0.25% (5878.95). European markets traded and closed mixed. Germany's DAX rose 0.11% (12230.89), the British FTSE 100 fell by 0.39% (7303.20).
Today it is expected a few publications of the macroeconomic data and the speeches of the monetary authorities that could affect investors' decisions during the trading sessions.
At 11:30 MSK the Volume of production in the manufacturing industry in the UK
At 11:30 MSK trade balance of Great Britain for February
At 12:00 MSK the President of the Bank of England's Carney speaks
At 13:00 MSK the Eurogroup Meeting
At 15:30 MSK nonfarm payrolls for March
At 15:30 MSK US unemployment rate for March
At 15:30 MSK the unemployment rate of Canada for March
At 17:00 MSK the President of the Bank of Canada's Poloz speaks
At 17:00 MSK the Index of business activity (PMI) Ivey Canada for March
At 19:15 MSK FOMC member Dudley speaks
At 20:00 MSK the Number of drilling rigs from Baker Hughes
Yesterday, the European currency fell slightly after the statement of the ECB President, that the withdrawal of quantitative easing is not expected, despite of expectations. It is likely that before the end of the year stimulus program will continue in the same amount. Speech of Mario Draghi has a positive effect on the European markets, which mostly closed the session in positive territory.
Statistics from the labor market continues to please U.S. investors. The number of initial claims for unemployment benefits decreased to 234 thousand, from 25 thousand. One of the defining indicators of the US economy: unemployment rate non-farm payrolls for March will be published today. If judge according to the ADP, which was released earlier this week, there is a high probability that the rate of non-farm payrolls will be no worse than expected.
Geopolitical events are still an important factor for the U.S. economy. Yesterday started the summit of the US and China. After the first day of negotiations, Donald Trump said nothing specific about the results. An important topic for discussion is the area of trade between countries, where tension arose on the background of the protectionism of the White House. While markets are continuing to consolidate at current levels pending news.
Night strike by cruise missiles of the US on Syrian military base caused a great resonance in commodity markets. Increased risk and uncertainty of military conflicts pushed investors to the reinsurance. The price of gold jumped to $ 1268. per ounce, having reached a strong resistance level. Oil is also not remained aloof. It continue growth and in the peak reached values of $ 52,90. per barrel for WTI. Today, investors will monitor developments and retaliatory action by other parties to the conflict. Also, today is expected to publication of data the number of drilling rigs from Baker Hughes.
Sincerely, Global FX chief analyst Sergey Melnikov.