Global stock markets finished last week well with US indices closing on Friday nicely in the black after strong earnings and positive Chinese data helped propel investor sentiment. The Dow closed up just over 1% and the S&P jumped up through the 2,900 level for the first time in six months with the Nasdaq bringing up the rear finishing the day up 0.46%.The dollar dropped off back again with the Dxy trading around 96.90 on the Sydney open this morning. Commodities continued to pull back from recent highs with Gold back around the 1290 area, WTI at $63.5/b and Brent now trading just above $71/b.
Financial markets will have a bit of a disjointed week ahead with the Easter weekend closing many centres on Friday and next Monday. Investors will once again be looking for fresh impetus for the markets before liquidity starts to thin into the weekend, the trade negotiations between the US and China are still front and centre for most market participant as is Brexit in the Euro zone. On top of this, traders will be closely monitoring earnings reports in the US with them coming think and fast this week.
Looking ahead to today’s trading and it’s a quiet start in Asia with little to excite on the calendar and the same can probably be said in the London time zone, although expect the continuing Brexit saga to exert influence over markets if any fresh news comes out on that front. FOMC member Evans speaks close to the US open and the Empire State Manufacturing Index is due out, but probably the highlight of the days data releases will be the latest BOC Business Outlook Survey. `