Daily Market News 1 April 2011

 

Yesterday's market movers

  • Yesterday from Germany we had the unemployment rate figure released. This came in slightly lower from the previous month adding further stimulation for economic growth within Germany. However this had very little movement on the markets when making international payments.   
  • In the EU CPI came out greater from the previous year by 0.2% at the back of this we saw Euro strengthen against its major counterparts , therefore adding greater fuel of an interest rate hike in the Euro zone.
  • In the US yesterday we had two key data releases, both of which came out negative. Firstly from the US was the Initial jobless claim which came out at 388k, which had very little movement on the market as this was factored in previously based on negative ADP figures. The final data from the US was factory orders for the month of February which came at -0.1 which was substantially lower than previous at 3.1 .This saw risk aversion in the market.
  • There was no relevant data from the UK

 
Today’s market movers

  • Early morning in Germany we have vast amounts of data being released in the form of German trade balance and German PMI. These are both expected to be positive, as anything above 50 for PMI figure is seen as positive even though it is lower than the month prior.
  • In the Eurozone we have two key data releases. We have PMI again, which is expected to be above the key level of 50, and the unemployment rate figure. Unemployment rate is expected to remain the same. However any major change on this result could stimulate volatility in the markets.
  • The only data from the UK is PMI; this figure is going to be above 50 but below the previous.
  • Finally from the US we have unemployment rate in with the general consensus that this will come in flat for the month. However also from the US the Non farm figures are expected to come out worse than previous and therefore highlights the possibility for Risk appetite in the Market.
  • The last key data from the US is ISM manufacturing that is expected to be slightly worse than previous but could show very little movement in the market when sending money to the USA.