Fears over economic slowdown in China dominated the general sentiment this week, after HSBC China PMI fell to a four-month low and continued to indicate contraction. In Europe, preliminary March manufacturing PMI data in both Germany and France also came in at four-month lows, both below 50, while UK Retail sales came below expectations, making the recession case more probable throughout Europe.
In the US, some good earnings and otherwise positive equity news held off some of the risk aversion momentum, but trading volumes were still pretty weak. February building permits jumped to their highest level since October 2008, while existing home sales slipped 0.9%, and new home sales dropped 1.6%.
Oil remained in focus with headlines about the ongoing supply issues related to the Iran embargo roiling markets every day. WTI traded in a broad range between $104.50 and $108.50…
This week is going to be a quiet week as far as news trading is concerned… However, it does not mean we will have a quiet market, as a matter of fact, we may very well see a heavily traded market as trends and sentiments were given an opportunity to develop…
Here’s the list of tradable releases:
Although we have both UK final GDP q/q and US Final GDP q/q, they are both final releases, or the 3rd release for Q4 2011, therefore not considered tradable.