Mar 21, 2017 - Market Update

Short recap

Asia printing highs

EU markets opening higher

Macron the winner of French presidential debate but Hillary Clinton was too

Weidmann (ECB) current policy is appropriate

Evans (Fed) will make decision about next hike in June

Will know more about financial and fiscal conditions and data

A small reaction to his speech only

UK to trigger Art 50 on Mar 29

FBI investigating links between Trump’s campaign and Russia

China to open further its economy to foreign capital (services, manufacturing, mining…etc.)

To support foreign securities listings and investments in science, technology and infrastructure

All of that seems like the opposite to Trump world

BNP Paribas ready to fill the gap in investment banking field in Europe

As it sees opportunities after its rivals scaled back activities there and in a hunt for an increase in revenue

Porsche family interested in Porsche shares owned by Piech family

Nike reporting today, struggling with increasing competition from Under Armour and Adidas

Eli Lilly having positive results from a combination of drugs treating breast cancer

Opel cleared in France in diesel emission investigation

S&P 500 still in uptrend

Support at 2365 then 2354

DAX still in uptrend channel

Support rising trendline, 11 930 and 11 480/500 levels

Oil not much upside potential

Likely to settle in lower range

Gold neutral

Levels: 1220-1238 then 1261 and Fibo levels

10-yr Trys yield at 2.48%

Saw additional strength in Trys as June hike priced lower at 40%

Risk of Trys yields to decline to lower range of 2.30%-2.50/60% band

Data

UK: Consumer Price Index expected to rise above 2%

UK: CBI Industrial Trends Survey ready for a slight decline

US: Current account expecting deficit to widen

JP: BoJ Minutes

Speakers (GMT)

BoE Carney (1035)

Fed: Dudley (1035), George (1600), Mester (2200), Rosenberg

Central banks’ future action:

Fed toward 3%

BoE not before late 2018

ECB and BoJ no action

Should you have any questions feel free to contact me anytime.

Good luck Champs!

Mr Hawk

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