MARKET RESEARCH
Apr 7th Apr 11th
SPOTLIGHT
China inflation rate
PSI20 drops despite positive data
Last week, PSI20 declined 4.39%. Rating agency DBRS stated that the "outlook" for the Portuguese economy "has improved substantially in recent months," which keeps the PT Govt. bonds eligible as collateral for banks refinancing operations with the ECB. OECD said it expects an improvement in the Portuguese economy, with its leading indicator rising by the 21th consecutive month in February. According to INE, exports of goods recorded an increase of 5.4% in the three months ended in February, after a growth of 5.9% between November and January. INE also announced that prices fell 0.4% in March compared with the same month last year, due to a sharp decline in the class of goods and services in the field of Transportation.
FEP Finance Club; INE; tradingeconomics.com
INDEXES PERFORMANCE
Apr 07
PSI 20 STOXX 50 FTSE 100 DAX CAC 40 NIKKEI 225 HANG SENG
7,614.14 3,185.97 6,622.84 9,510.85 4,436.08 14,808.85 22,377.15
Apr 08
7,465.32 3,177.66 6,590.69 9,490.79 4,424.83 14,606.88 22,596.97
Apr 09
7,495.15 3,182.79 6,635.61 9,506.35 4,442.68 14,299.69 22,843.17
Apr 10
7,427.45 3,152.86 6,641.97 9,454.54 4,413.49 14,300.12 23,186.96
Apr 11
7,334.05 3,116.54 6,561.70 9,315.29 4,365.86 13,960.05 23,003.64
Wkly Chg
-4.39% -3.52% -2.00% -3.92% -2.65% -7.33% 2.19%
Industrial production increases in Eurozone
European stock markets fell last week, with STOXX50 losing 3.52%. According to Destatis, German industrial production rose to a seasonally adjusted annual rate of 0.4%, from 0.7% in the preceding month. The same entity also announced Germanys Trade Balance fell unexpectedly last month to 15.7B, from 17.3B in February. Spanish industrial production rose morethan-expected last month, to 2.8%, from 1.3% in the preceding month whose figure was revised up from 1.1%. Italian industrial production fell more-thanexpected last month, official data showed on Thursday. In a report, Istat said that Italian Industrial Production fell to -0.5%, from 1.1% in the preceding month.
FEP Finance Club; Google Finance
CURRENCIES
Apr 07
EUR/USD EUR/CHF EUR/GBP EUR/JPY EUR/YUAN AUD/JPY
1.374 1.220 0.827 141.650 8.538 95.500
Apr 08
1.379 1.219 0.824 140.620 8.548 95.320
Apr 09
1.385 1.219 0.825 141.470 8.590 95.770
Apr 10
1.389 1.217 0.828 140.810 8.627 95.280
Apr 11
1.389 1.216 0.830 141.120 8.624 95.520
Wkly Chg
1.33% -0.51% 0.36% -0.30% 1.35% -0.47%
FEP Finance Club; Investing.com
REFERENCE RATES
Apr 07 Euribor 1M Euribor 3M Euribor 6M Euribor 12M Eonia 0.252% 0.327% 0.427% 0.600% 0.224% Apr 08 0.251% 0.327% 0.426% 0.599% 0.216% Apr 09 0.251% 0.327% 0.427% 0.599% 0.209% Apr 10 0.251% 0.327% 0.426% 0.599% 0.207% Apr 11 0.253% 0.328% 0.428% 0.601% 0.209%
Asian stocks slide
Asias benchmark stock index fell from an almost three-month high amid a renewed selloff of technology shares and as a stronger yen dragged Japanese equities toward their worst week since June. Further, Asian currencies completed a third weekly gain, led by South Koreas won. In China, higher fresh food prices boosted annual consumer prices up to 2.4% in March. On a monthly basis prices fell 0.5%. Moreover, Chinas exports fell 3.4% in the first three months of the year, while imports rose 1.6%. Bank of Japan maintained its commitment to increase base money at an annual pace of 60 to 70 trillion yen, while business confidence continues improving. Australias unemployment rate decreased to 5.8% in March while the number of people employed increased by 18.100.
FEP Finance Club; Banco de Portugal; BPI
BOND YIELDS
Apr 07 Portugal 6M Portugal 5Y Portugal 10Y Spain 10Y France 10Y Italy 10Y Germany 10Y UK 10Y Apr 08 Apr 09 Apr 10 Apr 11
0.65%
2.655% 3.884% 3.186% 2.043% 3.192% 1.541% 2.669%
0.46%
2.638% 3.920% 3.208% 2.060% 3.221% 1.561% 2.699%
0.64%
2.589% 3.898% 3.185% 2.087% 3.202% 1.576% 2.698%
0.67%
2.537% 3.868% 3.161% 2.016% 3.163% 1.522% 2.618%
0.64%
2.656% 3.950% 3.198% 2.013% 3.222% 1.507% 2.616%
FEP Finance Club; Investing.com
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SPOTLIGHT
U.S. Producer Price Index (MoM)
U.S. Stocks fell the most since 2012
US stock market had big losses in the end of the last week, over fears about earnings growth. The S&P 500 was down 2.65% on the week, the biggest weekly loss since 2012, with Tech stocks showing the largest drops. The Thomson Reuters/University of Michigan preliminary April index of sentiment rose to 82.6, from 80 a month earlier, beating the expectations. Moreover, data showed producer prices in the U.S. rose more than forecast in March, led by the biggest gain in the cost of services in four years. Seasonally adjusted producer price index for final demand increased 0.5% last month, after slipping almost 1% in February. Besides, initial claims filed for unemployment insurance fell to 300,000 in April 5, the lowest level since May 2007. Finally, U.S. import price index rose to a seasonally adjusted 0.6%, from 0.9% in the preceding month. Analysts had expected U.S. import price index to rise 0.2%.
FEP Finance Club; investing.com
INDEXES PERFORMANCE
Apr 07
S&P 500 DJIA NQ 100 S&P Lac 40
1,845.04 16,245.87 3,507.75 3,743.60
Apr 08
1,851.96 16,256.14 3,538.23 3,742.14
Apr 09
1,872.18 16,437.18 3,600.44 3,747.64
Apr 10
1,833.08 16,170.22 3,487.76 3,719.62
Apr 11
1,815.69 16,026.75 3,446.85 3,739.70
Wkly Chg
-2.65% -2.35% -2.61% 1.90%
FEP Finance Club; Google Finance
Reports below expectations in Mexico
Apr 09
102.130 6.200 0.938 1.680 0.880 1.088
CURRENCIES
Apr 07
USD/JPY USD/YUAN AUD/USD GBP/USD USD/CHF USD/CAD
103.070 6.212 0.927 1.661 0.888 1.098
Apr 08
101.950 6.197 0.935 1.675 0.884 1.093
Apr 10
101.390 6.213 0.940 1.678 0.876 1.093
Apr 11
101.620 6.212 0.940 1.673 0.876 1.098
Wkly Chg
-1.60% 0.00% 1.14% 0.94% -1.75% 0.00%
FEP Finance Club; Investing.com
COMMODITIES
2.25% 4.57% 0.52% -0.65%
Crude Oil WTI Natural Gas Crude Oil Brent Corn
1.14% 0.20% 0.60% -2.72%
Gold Silver Copper Sugar
Consumer price inflation in Brazil rose more-thanexpected last month, official data showed on Wednesday. Analysts had expected Brazilian CPI to rise to 6.08% last month and it has risen to 6.15%, from 5.68% in the preceding month. Mexican CPI fell to a seasonally adjusted 3.76%, from 4.23% in February. Analysts had expected Mexican CPI to fall to 3.79% in March. Moreover, February industrial activity rose 0.3% compared with January and to expectations for a 0.45% increase, after the upwardly revised 0.6% expansion in January.
Oil rose on escalated tension over Crimea
Oil ended high amid speculation that tension between Russia and Ukraine over Crimea may escalate, which in turn could disrupt supply from oil rich Russia. Besides, Natural Gas rose as cold weather over the week boosted demand for heating. On the metals front, Gold rose stemming from expectations for U.S. monetary policy to remain loose. Conversely, Sugar fell as India, the worlds biggest sugar producer after Brazil, will continue to export next year as stockpiles are higher than necessary and as state payments spur sales, according to the countrys millers. Finally, Corn dropped amid an increase in Chinas stockpiles.
FEP Finance Club; Investing.com
US TREASURY YIELDS
Apr 07 US 3M US 1Y US 10 Y US 30 Y 0.030% 0.103% 2.708% 3.563% Apr 08 0.030% 0.098% 2.686% 3.542% Apr 09 0.035% 0.096% 2.697% 3.581% Apr 10 0.033% 0.091% 2.643% 3.509% Apr 11 0.038% 0.093% 2.628% 3.489%
FEP Finance Club; Investing.com
Ana Reis
Beatriz Fougo
David Novo
Jos Silva
Pratik Ashok
Pedro Santos
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