Euro slowdown heading into Q2 and May secure in elections
- The trouble with Oil: keep it on your watch list
- China signals 'major differences' in US trade talks.
- GBP/USD looking very glum ahead of rate decision on 10th of May.
- Eurozone March Retail Sales YoY 0.8% vs 1.9% expected
- GBP: it has been a long road. A brief history of recent rate hike expectations.
- It's all about this key level on the charts today
- April PMI data: slowdown continues in Euro area
- Eurozone April Final Services PMI 54.7 vs 55.0 expected
- US, China officials said to reach agreement on some areas of trade dispute - report
- Germany April final services PMI 53.0 vs 54.1 prelim
- France April Final Services PMI 57.4 vs 57.4 expected
- Italy April services PMI 52.6 vs 53.0 expected
- China says US trade delegations' proposals were "unfair" - WSJ
- Dollar index pivots around 92.50 ahead of payrolls, what levels to look out for?
- Nick Robinson: Election results give Theresa May respite from bad news
- China says trade talks with US still continuing
- GBP/USD hovers near the lows as market awaits US payrolls
- Spain April Services PMI readings, 55.6 vs 56.1 expected
- European equities open firmer to start the day
- Local election results: May doing best in areas which voted 'leave'
- US delegation asks China to narrow trade surplus - report
- France March Trade Balance -5258m vs -5000m expected
- France YTD March budget balance -€33.1 bn vs -€28.5 bn prior
- EUR/USD fails to reclaim 1.2000 as we get into European trading
- Trading ideas for the European Session - 4 May 2018
- Qatar Gulf mediation failure: Region being re-shaped by blockade
- Dollar starts to turn around a little on the day
- Eurostoxx futures +0.5% in early European trading
- Aussie RBA bounce not sustainable
- Danske says ECB to look past April inflation reading
- AUD/USD fails first test of near-term bullish confirmation bias
- Peace in Korea will be a great thing, but don't expect a massive boost to risk assets.
- Nothing but silence still from US-China trade talks
- HSBC new target prices for Shell and BP: they turned out to be good oil price recovery plays
- PBOC's Guo says domestic economic risk remains, but controllable
- FX option expiries for the 1400 GMT cut - 4 May 2018
Markets
- FTSE 100 up 0.44% at 7535.58
- Gold down 0.12% at 1310.58
- WTI up 0.56% at 68.82
- Bitcoin up 0.52% at 9725
France, Germany and Italy all had data misses today. The April Eurozone retails sales was a major miss at 0.8% vs 1.9% expected. Now , that is a lagging indicator and reflects on the historic bad Q1, but still, put it together with the Eurozone PMI miss and things are looking bleak for the Euro. Moves were obviously limited pre NFP, but this raises questions for the EU. Specifically, 'is Q2 slowing as well?'. Easter can't be to blame for Q2 as well.... Questions are being raised and will continue to be raised about the growth of the eurozone.
The Iran Nuclear deal raised its head with OIL getting a bod at the end of the session. Russia trying to get the US to play ball. Putin joining the list now; Merkel and Macron from Europe. Fears os Iran sanctions rises oil on supply cut fears.
GBP/USD is sat on the 200 SMA and looks very depressed. The likelihood of a May rate hike is very low now and risks are probably 'asymmetric' for the GBP now. Any good news will send the GBP/USD higher.
Markets have been restrained as we wait for the NFP in the next session. The main focus is going to be on hourly earnings.
