Daily Market News 18 April 2011


Friday’s market movers

  • EU Trade deficit narrowed in February from the previous month. Meanwhile, EU Consumer Price Index March YoY came in much stronger and we saw EUR/USD trade above 1.4440 level.
  • US CPI came out with an increase as well in March: CPI YoY had the same reading of 2.7% as EU’s, which has increased slightly from the previous 2.1%
  • Net Long-term TIC Flows came out at $26.9bn, worse than the previous $51.1bn and the expectation of $59.4bn. Industrial Production March MoM resulted in 0.80% better than the consensus 0.50%, and the prediction 0.10%. Reuters/Michigan Consumer Sentiment Index showed an improvement from 67.5 to 69.5.
  • We saw a strong US dollar in the afternoon session, Sterling and Euro was running downwards against the dollar, and finished the session at the lowest level of the day.


Today’s market movers

  • UK Rightmove House Price Index April YoY and MoM released at midnight. YoY declined from 0.9% to 0.1% while MoM increased from 0.8% to 1.7%. The sharp jump of MoM showed the positive prospects of the housing market in short term. However, Sterling did not find modest support and has been trading blow 1.63 level.
  • EU Consumer Confidence is due to come out with the expectation of -11 the previous -10.6. The euro might be affected negatively if the data comes out as expected. However, since all eyes are on the debt crisis and the performance after the interest rate rise, it probably would not have big impact on the hegemonic currency.