Markets in Details: 01 April 2019

1 April, 2019

News

  • China’s manufacturing PMI showed improvement on Monday - The Caixin Manufacturing PMI came in at 50.8 - creating the perception that the world’s second largest economy may have hit bottom and that this could be the turnaround for global and eurozone growth in subsequent quarters.

The focus of attention

  • Markets are likely to focus on eurozone inflation data on Monday as well as retail sales, manufacturing PMI and business inventories due to be released by the U.S.

Expected events. All times GMT.

  • 01:45 China will release the Caixin Manufacturing PMI
  • 07:55 Germany will release the Markit Manufacturing PMI
  • 08:00 EU will release the Markit Manufacturing PMI
  • 08:30 UK will release the Markit Manufacturing PMI
  • 09:00 EU will release the flash inflation rate reading
  • 12:30 U.S. will release February Retail Sales
  • 14:00 U.S. will release ISM Manufacturing PMI, Business Inventories and Construction Spending

Technical Analysis

  • EUR/NZD is still being influenced by its major downtrend visible on the weekly and daily views. Although the EMA-9 is starting to move sideways, there is a momentum resistance at the RSI 50% level on the daily view. The hourly view shows an early morning attempt to recover which was stopped by resistance at the 1.6472 level and that there is momentum resistance at the RSI 50% level. Expect the downtrend to continue particularly if the support at 1.6436 on the hourly chart is broken.

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