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Market Update: Mixed market movements, Netflix disappoints, and more earnings due.
Today's important market events:
[EUR] Eurozone CPI (YoY - Mar) - 11:00 CEST
[USD] Crude Oil Inventories - 16:30 CEST
The Asia-Pacific (APAC) stock markets had a lackluster performance due to the absence of any significant positive macro drivers and the flat handover from Wall Street. European equity futures are indicating a contained open, with the Euro Stoxx 50 future up 0.1% after closing up 0.6% yesterday.
In the foreign exchange (FX) markets, DXY remains below 1.02, while the EUR/USD and Cable pairs are trading at 1.09 and 1.24 handles, respectively.
Netflix beat on the bottom line but missed on subscriber additions and Q2 guidance, causing initial after-hours losses to be pared, with the stock trading flat now.
The ASX 200 saw gains in mining and materials, but weakness in energy and consumer stocks limited overall gains. The Westpac Leading Index was flat. The Nikkei 225 declined after the latest Reuters Tankan survey showed Japanese manufacturers remained pessimistic. The Hang Seng and Shanghai Comp were subdued, with underperformance in Hong Kong amid losses in autos, property, and tech.
US equity futures were slightly lower after varied earnings updates, including a mixed report from Netflix. European equity futures were indicative of a contained open.
The DXY attempted to recover but was limited after slipping below the 102.00 level. The EUR/USD traded rangebound and held on to most of its recent gains, while the GBP/USD was uneventful at the 1.2400 handle.
The PBoC set the USD/CNY mid-point slightly higher than expected. The BoC Governor said the central bank cannot rule out another rate hike to curb inflation. Crude futures were rangebound, and spot gold traded sideways. Copper futures were subdued.
Looking ahead, some events to watch out for include the release of UK CPI and EZ HICP (Final), New Zealand CPI, speeches from ECB's Lane & Schnabel, Fed's Goolsbee, BoE's Mann, Supply from Germany, UK & US, Earnings from ASML, Heineken, Just Eat, American Airlines, IBM, Tesla, and Morgan Stanley.
General news - Information source from multiple newswires.
The article and the data is for general information use only, not advice!
The Trade Academy Team