- FX – USDIndex remains under pressure, hurt by the weak headline data, as well as the stronger than expected German confidence data and further hawkish ECBspeak. EUR held above 1.1050, JPY holds 133.95 floor and Sterling dip since Asia open from 1.2500 highs, while UK debt data added further pressure. UK debt level at 99.6% of GDP (less than expected)
- Stocks – US markets closed dirioctionless.#US30 was up 0.20%, the #US500 fractionally higher with a 0.09% gain, and the #US100 dipped -0.29%. #FRC shares initially plunged after hours by -20% as it reveals $100bn deposit flight (-40%) in Q1. #BancoSantander profits rise 1% as bank pays windfall tax to Madrid. #UBS draws $28bn of new money as clients exit Credit Suisse.
- Commodities – USOil – settled higher, reversing losses as investors grew optimistic that holiday travel in China would boost fuel demand in the world’s largest oil importer – $78.40-78.95. Gold – slightly higher to $1994.
- Cryptocurrencies – BTC flat below the key $28k.
Today – Australia & New Zealand closed today as well for ANZAC day, UK March public sector borrowing figures, Earnings: Microsoft and Alphabet.
Biggest FX Mover @ (06:30 GMT) #BancoSantander (-5%). Dip on EU open post announcement of a €224mn windfall tax bill payment to the Spanish authorities, equalled to nearly 9% of its latest quarterly profit.
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Andria Pichidi
Market Analyst
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