A strong rebound for global equity markets

Monday, March 30, 2015

Japan’s industrial production declined sharply by 3.4% m/m in February against analysts’ expectations of a 1.9% drop. However, the disappointing Japanese economic data failed to weigh on market sentiment as the Nikkei index surged 0.65% above 19,400 and the Hang Seng index rallied strongly almost 400 points (+1.55%) towards 24,900.

Hang Seng Index rallies towards 24,900

HSI Index (Hong Kong Hang Seng I 2015-03-30 09-04-36

European equity markets have been higher in early trade this morning, as concerns regarding the Greek debt issues have slightly eased. The euro has hovered around 1.0850 against the US dollar ahead of the release of Eurozone’s business climate and consumer sentiment figures. The CAC, DAX, IBEX and London equity benchmark index rebounded and climbed higher between 0.5% and 0.9% this morning.

EURUSD held around 1.08

EURUSD Curncy (EUR-USD X-RATE)   2015-03-30 09-02-54

Crude oil prices remained under pressure this morning as WTI front month futures slid lower breaching below $48 per barrel and Brent front month futures declined over 1% in early trade towards $55.50 per barrel. The bearish crude oil fundamentals continue to weigh heavily on market sentiment, while global oil demand has remained fairly tepid in Q1 2015. The strong USD currently adds further pressure to the oil market as the USD index holds strong above 97.80 against a basket of currencies.       

WTI front month futures retreat towards $48

CLK5 Comdty (WTI CRUDE FUTURE  M 2015-03-30 09-05-27

Tensions in Middle East continue to dominate the markets, causing some volatility across equities and commodities. According to Bloomberg, Shiite Houthi rebels and forces loyal to Yemeni’s President Abdurabuh Mansur Hadi battled for control of southern provinces over the weekend, as Saudi Arabia extended airstrikes and said it doesn’t rule out sending in ground troops.   


Events for today:





Bus. Climate & Con. Sentiment




Pending Home Sales




Midwest Manufacturing

All times UK Local Time

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