The Market Week – April – Week 1
The focus of attention once again this week is on the 채권시장, as the US 10-year treasury yield reversed from 1.76% 에 1.63%, which also pulled the USD lower, as April got into full swing following the Easter holidays. President Biden outlined his $2.25 tn Infrastructure plans, with more details promised during the month. The IMF lifted global growth forecasts to 6% for 2021 on expectations of a strong US economy.
The details of Bill Hwang’s 아르케고스 캐피탈 collapse came into focus as 크레디트 스위스 announced a loss of $ 4.7 억. and parted ways with their Head of Risk (Lara Warner) and their investment banking chief (Brian Chin). Archegos had reported assets of $10 bn but highly leveraged positions of around $50 bn when the margin calls began.
Unemployment remains stubbornly high globally but this week signs of a turnaround continued in the USA. The 비농업 임금 was a blockbuster, beating the consensus of 650,000 new jobs for March and posting a 916,000 gain, with 실업 떨어지는 6.0% and revisions for 2021 adding an additional 156,000 new jobs. However, last week’s unemployment claims moved up over 700,000 again to 719,000, missing expectations, and the private payrolls from ADP also missed expectations at 517,000.
The vaccine rollouts continue to gain traction globally, however, the situation in the EU, with rising infections, extended lockdowns and a low vaccination rate, coupled with the persistent concerns over the AstraZeneca vaccine, weigh on the EUR. 인도와 브라질 remain key infection hotspots. 불리우죠 678.6 만 백신 given across 179 개 국가
This week FX volatility continued as the USD reversed its March gains. The USD인덱스 fell from five-month highs at 93.45 to test lows at 92.25. EURUSD moved over 1.1800 from five-month lows at 1.1704 to test the 200-day moving average at 1.1880. USDJPY was the biggest reverse, moving from one-year highs at 110.96 to 109.57 최저. 케이블 moved up from the mid-1.3700s to test 1.3900 다시 한 번.
Global stock markets turned more volatile as the rotation from high growth technology stocks to financials, energies and industrials continued. The USA30 & USA500 게시 새로운 사상 최고치, 이상 33,400 과 4,080각각.
XNUMXD덴탈의 덴탈 price moved significantly higher this week, from the key $1685 support level, breaking and holding over $1725 and peaking at $1745 as the USD and yields cooled. 비트코인 also had another volatile week and 합병하다 around immediate resistance at $58,000 but eyes a new all-time high over $60,000.
US 오일 prices moved lower and remain under $60.00 a barrel as the consequences of the OPEC+ production increases weigh, balanced by the improving economic outlook as forecast by the IMF.
에 수확량 US 10-Year Treasury Note holds above the psychological 1.50% level but has retraced significantly from the 14-month highs last week at 1.76% 아래로 테스트 1.63%.
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