Market Focus Today
USD Producer Price index (PPI)
USD Retail Sales
GBP Consumer Price index (CPI)
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News Roundup
LOW: UK
UK Election: A survey of finance chiefs released today shows they are much less inclined to take risks – 51% said now was a good time to take risk onto their balance sheets, compared with 72% six months ago, according to Deloitte. David Cameron and the conservatives will announce their manifesto today, by putting Britain’s housing crisis at the centre of their election campaign, pledging to boost the supply of new homes and extend the right-to-buy policy to housing association tenants.
LOW: RUSSIA
Russia lifted its self-imposed ban on selling an advanced air-defence systems to Iran, which is being interpreted as yet another kick in the teeth to Western powers. The decree, banning delivery of the S-300 system to the Islamic Republic in September 2009, had been imposed under intense diplomatic pressure from the U.S. and Israel. The move is yet another example of power politics, by the increasingly unstable Vladimir Putin!
LOW: USA
Flash crash redux. A senior Fed official has warned that a flash crash in US Treasuries last autumn could happen again due to the changing nature of the US government debt market. The US Treasury market is the biggest and most liquid in the world, and forms a pillar of the global financial system.
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Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.