Global Markets:
- Asian stock markets: Nikkei up 0.60 %, Shanghai Composite gained 0.25 %, Hang Seng fell 0.70 %, ASX 200 declined 0.15 %
- Commodities: Gold at $1264 (+0.85 %), Silver at $18.39 (+0.80 %), WTI Oil at $52.50 (+1.60 %), Brent Oil at $55.65 (+1.40 %)
- Rates: US 10-year yield at 2.32, UK 10-year yield at 1.10, German 10-year yield at 0.26
News & Data:
- Australian AIG Construction Index Mar: 51.2 (prev 53.1)
- PBoC Fixes USDCNY Reference Rate At 6.8949 (prev fix 6.8930 prev close 6.8980)
- Stocks skid, safe-haven assets jump as U.S. missiles strike Syria – RTRS
- Oil prices jump 2 percent after U.S. launches missile strike in Syria – RTRS
Markets Update:
It was a risk-off session in Asia after the US announced that it launched missile strikes in Syria. While the reaction in FX was muted, Gold jumped above 1263 resistance and Oil prices rallied more than 2 percent. Gold reached a high of almost 1270, but reversed some of the gains later in the session. Support is now seen at 1260 and 1252.
The FX market remained calm. Traders are waiting for the US employment data today, and are not willing to take much risk ahead of it. The market is anticipating a slightly higher NFP number following the solid ADP figure on Wednesday. Nevertheless, the Dollar remains under pressure against the Yen, as the currency is benefiting from the risk aversion.
Upcoming Events:
- 06:45 GMT – Swiss Unemployment Rate
- 07:00 GMT – German Trade Balance
- 07:00 GMT – German Industrial Production
- 07:45 GMT – French Trade Balance
- 08:30 GMT – UK Halifax House Price Index
- 09:30 GMT – UK Industrial Production
- 09:30 GMT – UK Manufacturing Production
- 09:30 GMT – UK Trade Balance
- 10:00 GMT – Bank of England Governor Carney speaks
- 13:30 GMT – US NFP
- 13:30 GMT – US Unemployment Rate
- 13:30 GMT – US Average Hourly Earnings
- 13:30 GMT – Canadian Unemployment Rate
- 13:30 GMT – Canadian Employment Change
- 15:00 GMT – Canadian Ivey PMI
- 15:00 GMT – Bank of Canada Governor Poloz speaks
