Economic data in the spotlight yet again - Market Overview

Economic data in the spotlight yet again -  Market Overview

The markets’ eyes were glued on economic data today. And the reports have indeed impressed.

On the one hand, the Unemployment Claims report has negatively surprised the market with a figure of 576k, a considerable drop compared to the expected 700k, and a correction of the previous week's data of 769k.

A good figure for the labour market was the low number of unemployed people and therefore served as an anticipation of a better Non-farm Payroll figure and a fall in the unemployment rate.

On the other hand, March's retail sales data has exceeded forecasts. They grew by 8.4%, with an average forecast of 5% and a notable rise compared to the previous month's fall of 2.5%.

This figure is somewhat devalued because a large part of it is due to the vehicle sales component that has experienced a notable increase during March and therefore can be considered a seasonal factor.

In any case, the data is still very favorable for the expectations of the economy's recovery.

To these two results we must add the Philadelphia Fed Manufacturing Index figure for April, which retreated to 50.2 from a forecast of just 42.

Therefore, all the data published today goes in the same direction. Overall, this is a more positive performance of the North American economy, anticipating an early recovery.

However, the market reaction has been somewhat mixed. On the one hand, the yields of the American treasury bonds have fallen after the reports. For Tnote, the yield has fallen 3 bps to 1.59%. However, the 10-year American bond, as we can see in the daily chart, rose in price to a pivot zone located around 132.30, above which, from a technical point of view, a corrective upward movement of greater depth could begin.

In the currency market, the U.S. Dollar has strengthened marginally. EUR/USD failed to break above the resistance zone around 1.9990, shyly retreating to 1.1950 but with insufficient intensity. From a technical perspective, only below this level would it open the way for losses to the 1.1920 area. Below that level, it would already find more important support at 1.1880.

Sources: Bloomberg, reuters.com.

Maklumat/penyelidikan ini disediakan oleh Miguel Ruiz (“tpenganalisis penyelidikan”) dan tidak mengambil kira objektif pelaburan tertentu, keadaan kewangan atau keperluan khusus individu. Penganalisis penyelidikan bertanggungjawab terhadap kandungan laporan penyelidikan ini, samada sebahagian atau keseluruhannya, memperakui bahawa pandangan mengenai syarikat dan sekuriti mereka yang dinyatakan dalam laporan ini jelas mencerminkan pandangan peribadi dan pedagang bertanggungjawab sepenuhnya ke atas risiko mereka sendiri.

Penyelidikan yang disediakan bukanlah pandangan JME Financial Services (Pty) Ltd ataupun undangan untuk melabur dengan JME Financial Services (Pty) Ltd. Penganalisis penyelidikan juga memperakui bahawa tiada sebahagian daripada pampasannya, adalah, atau akan, secara langsung atau tidak langsung, berkaitan dengan cadangan atau pandangan tertentu yang dinyatakan dalam laporan ini.

Sehingga tarikh laporan diterbitkan, penganalisis penyelidikan dan pasangannya dan/atau saudara-mara yang bergantung kepada penganalisis penyelidikan, tidak memegang kepentingan dalam sekuriti yang dicadangkan dalam laporan ini (“kepentingan” termasuk pemilikan langsung atau tidak langsung terhadap sekuriti).

Penganalisis penyelidikan tersebut bukanlah di bawah JME Financial Services (Pty) Ltd. Anda digalakkan mendapatkan nasihat daripada penasihat kewangan bebas mengenai kesesuaian pelaburan, di bawah penglibatan berasingan, seperti yang anda anggap sesuai dengan objektif pelaburan tertentu anda, keadaan kewangan atau keperluan kewangan tertentu sebelum membuat komitmen untuk melabur.

Undang-undang Republik Afrika Selatan akan mengawal sebarang tuntutan yang berkaitan dengan atau yang timbul daripada kandungan maklumat/ penyelidikan yang disediakan.

JME Financial Services (Pty) Ltd, beroperasi sebagai ZA.CAPEX.COM, bertindak sebagai perantara antara pelabur dan Magnasale Trading Ltd, rakan kontrak untuk perbezaan yang dibeli oleh pelabur melalui ZA.CAPEX.COM, yang diberi kuasa dan dikawal selia oleh Cyprus Securities. dan Suruhanjaya Pertukaran dengan nombor lesen 264/15. Magnasale Trading Ltd adalah prinsip utama CFD yang dibeli oleh pelabur.