Single Currency Firm While Pre-Easter Trading
The single currency broadly reinforced and became the firmest. Kiwi and Pound increased as well. Japanese Yen, greenback and Australian Dollar are the softest. No drastic dynamics are expected at the market due to the coming holiday. New Zealand ANZ business confidence decreased from -19 to -20 this month. Today, we’ll get German Gfk consumer confidence, British CBI reported sales and US trade balance, wholesale inventories, pending home sales and Final Gross Domestic Product.
DOW rose 244 points (24446.22) but then reduced -344.89 points (-1.43%) to 23857.71. S&P 500 fell-45.93 points (-1.73%) at 2612.62. NASDAQ dropped -211.73 points (-2.93%) to 7008.81. After the recent scandal, regarding the leaks of private information of its users, Facebook declined -4.9%. Mark Zuckerberg is yet to be testifying before the US Congress. Twitter was down 12% as Citron Research claimed it was short of the stock. Nvidia fell -7.8%. Nikkei reduced -1.9%. HK HSI tumbled -1.5%.
Kim Jong-un (North Korean leader) is preparing to meet with Xi Jinping (China’s President), which will mark his first foreign visit as a president. The issue of denuclearization would be the main point of discussion among US, South Korea, China and of course North Korea. White House press secretary Sarah Huckabee Sanders stated: “we see this development as further evidence that our campaign of maximum pressure is creating the appropriate atmosphere for dialogue with North Korea”. Kim Jong-un responded: “the issue of denuclearization of the Korean Peninsula can be resolved, if South Korea and the United States respond to our efforts with goodwill, create an atmosphere of peace and stability while taking progressive and synchronous measures for the realization of peace.”