FTSE

EUR/USD is a pair to watch today, given the line-up of GDP and employment for Europe, retail sales for the US and Jerome Powell speaking.

FTSE falls after disappointing Chinese data. EUR/USD falls ahead of Eurozone economic forecasts.

Data from China clearly pointed the wrong way and knocked sentiment, but news that Shanghai is aiming to reopen threw in a degree of support.

EUR/USD came very close to breaking the 2017 yesterday, which would have taken it to its lowest level since December 2019.

More of the same with the Fed as Jerome Powell is confirmed for a second term. The yen rallied on geopolitical concerns as Russia threatened Finland over joining NATO.

There’s no respite as investors continue dumping stocks and other risk assets

Energy markets were supported by the rise in geopolitical tensions between Russia and Europe, which helped WTI print a firm close above $100.

Given US indices are holding support levels after the latest selloff, a soft inflation print could be the catalyst to lift equities from their lows.

Whilst equity markets traded higher overnight, volatility lacked the conviction we’d like to see to gain confidence an important low had been seen.

Hawkish comments from BOE, ECB and the Fed yesterday left nowhere for commodity FX to hide and send AUD and NZD pairs lower.

With US indices having potentially printed a wing low, we’re now looking for DAX to follow suit today. Elsewhere, Canadian inflation is in focus for BOC watchers.

Several major exchanges open for the first time after the 4-day Easter break, and we’ll see if the FTSE can extend Thursday’s run after it broke out of consolidation.

The Singapore dollar made the baulk of currency moves overnight as the MAS tightened policy. We don’t expect the same level of excitement from the ECB.

We’ve had one 50 bps hike already today from the RBNZ, and now we get to find out of the BOC will follow suit. But first up is UK inflation data.

USD/JPY's epic rally has stalled just beneath the 2015 high, a break above which would see the pair trade at its highest level since June 2002.

It’s a fine line between the FTSE closing the week higher or not. But if it can, it will be the first time the index has rallied for five weeks since November.

Those who ignored the multiple warnings from Fed officials seem to have taken notice of the highly hawkish FOMC minutes, with markets tracking Wall Street lower overnight.