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Market View

Market Recap – Catholic Easter

Friday, April 19, 2019 9:51 AM GMT

Yesterday’s French and German Manufacturing PMI numbers fell short of market’s expectations, triggering a bearish / risk-off sentiment in the Forex market and sending USD higher. EURUSD, EURJPY, AUDUSD fell.

Yet, the risk-off scenario was not followed by equity indexes.  S&P500, Dow Jones, DAX, Cac40 rallied, favoring the opposite scenario (where a rebound in economic momentum is expected).

As we are in the Easter Holidays when volume drops, it is a good opportunity to describe the bigger picture.

  • USA-China trade negotiations are having progress, and a festive signing of trade deal by President Trump and President Xi, could happen as early as the end of May.
  • USA-Japanese trade negotiations are progressing and a meeting between President Trump and Prime Minister Abe may happen next week.
  • China’s macroeconomic numbers are promising
  • Europe is running through a difficult period as (i)GDP growth is revised downwards, (ii)the German engine may or may not be bottoming down,(iii) Spain is having general elections the next weekend and (iv) European Parliament elections are scheduled on the26th of May.



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Reliance upon information in this material is at the sole discretion of the reader.

Opinions expressed in the report do not represent the opinion of Zulutrade and do not constitute an offer or invitation to anyone to invest or trade.

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