Here’s today’s ‘Just A Minute’ bringing you a 60 second summary of what’s happening in the financial markets:
Main Trading Event Of The Day: US Core Retail Sales @ 12.30 GMT
WHAT WE’RE WATCHING TODAY
U.S Retail Sales Increase Anticipated
Weekly surveys have suggested some improvement during the month, alongside firm consumer confidence, with sales at U.S. retailers jumping 0.9 percent in March, the biggest gain since September 2012, according to Bloomberg. An increase of 0.5% in retail sales excluding autos is forecast. Analysts say that the severe winter weather depressed consumer spending in recent months and that pent-up demand has been slow to show up in the data.
Stocks Decline Amid Wall St Gloom & Ukraine Tensions
Asian shares declined early today after a gloomy week on Wall Street and tensions in Ukraine sapped investors’ appetite for risk, which helped underpin the safe-haven yen. The glum sentiment is set to carry through to Europe with Britain’s FTSE 100 expected to open about 0.6 percent lower, Germany’s DAX to start down 0.9 percent, and France’s CAC 40 off 0.8 percent. Ukraine gave pro-Russian separatists a Monday morning deadline to disarm or face a “full-scale anti-terrorist operation” by its armed forces, raising the risk of a military confrontation with Moscow. European Union foreign ministers will hold talks later on Monday about tougher sanctions against Russia. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 0.5 percent, pulling further away from five-month highs hit on Thursday. Japan’s Nikkei stock average briefly turned positive during Friday’s session, but ended down 0.4 percent at a six-month closing low. The Nikkei stumbled 7.3 percent last week, its biggest weekly fall since March 2011. The Nasdaq closed below the 4,000 mark for the first time since early February as investors bailed out of high-flying technology and biotech shares. Investors are wary that Wall Street’s rout may continue.
Data Influx From China Awaited
Important data from China, the world’s second-largest economy is likely to be a key focus for market players this week, with first-quarter growth domestic product (GDP), March retail sales, industrial output and fixed asset investment (FAI) set to be released on Wednesday. GDP is expected to rise 7.3 percent, which would mark China’s slowest pace of growth since 2009 and come in well below the 7.7 percent reading in the final quarter of 2013. However, the government is unlikely to be taking any short-term easing measures to combat economic volatility as it did in 2009 since they are less efficient than natural market forces in boosting growth.
That sums up today’s highlights! Stay in touch with us throughout the day for up-to-date news and important trading information. You can find us on Facebook, Twitter, Google+ and LinkedIn.
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