Investing.com | Apr 01, 2019 08:42
manufacturing activity eased concerns of a global slowdown. Expectations of some diplomatic breakthrough in the upcoming round of U.S.-China meetings in Washington later this week also boosted market sentiment.
All major Asian benchmarks closed markedly in the green, resuming their most substantial quarterly gains since 2012. China’s NBS manufacturing PMI s smashed estimates, prompting hopeful investors to pile up on local shares on speculations of a bottom in the country’s economy.
Japan’s dollar —which in turn is pressured down by sliding Treasurys, as foreign buyers repatriate capital.
Overall, global stocks are testing the waters for bringing their Q1 gains into the second quarter, counting on the world's central banks to lay out more accommodation to support earnings growth.
However, while the current rally already pared most of the losses shares suffered in the fourth quarter, yields languish at multi-year lows, suggesting the outlook for a slowdown is still on the cards. While upbeat Chinese data eased some concerns, eyes will be on the U.S. jobs report this Friday to jibe with these positive readings.
In FX trading, The pound gained ground even as an ongoing impasse over Brexit increases the potential of general election in the U.K.—for the third time in just four years.
In commodities, the relief coming from stronger Chinese figures helped the price of may be a tough act to follow .
h2 Up Ahead/h2Canadian RBC Manufacturing PMI for March is released Monday.
Bank of Canada Governor Stephen Poloz speaks Monday.
Currencies
The Canadian loonie was down 0.12 percent against the U.S. greenback early Monday, trading at 0.7483.
Bonds
Canada’s 10-year yield was up early Monday at 1.655, a 2.35-percent increase.
Commodities
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