MacroMicro_Global

MacroMicro_Global

The originally scheduled 4/28 (3) OPEC+ ministerial meeting was held ahead of schedule on 4/27. The resolution was held on hold and was in line with market expectations. The prices of WTI and Brent crude oil futures remained stood at the prices of $63 and $66 per barrel respectively. MM Analysis On Tuesday evening, the OPEC JMMC Joint Ministerial Monitoring...

MacroMicro_Global

The year-on-year increase of US durable goods reached 25.02% (previously 3.2%), with an absolute value of $256.3 billion (previously $254 billion). Year-on-year increase of nondefense new orders for capital goods reached 11.59%, to $75.9 billion in March. MM Analysis As the impact of cold winter retreat, nondefense new orders for capital goods reached $75.9...

MacroMicro_Global

MM Analysis Exports from Japan surged 16.1% year-on-year in March, beating consensus expectations for a rise of 11.4%. It's absolute value has reached a recorded high since 2008 financia crisis, showing that a strong recovery momentum has been reflected on Japan's export data. China is still the largest driving country as usual, with a year-on-year increase of...

MacroMicro_Global

The Reserve Bank of Australia keeps interest rates on hold, at the historically low level of 0.1 percent, it was expected to last until at least 2024. MM Analysis 1. Monetary Policy - Keeps interest rates on hold, at 0.1 percent - The initial $100 billion government bond purchase program is almost complete and the second $100 billion program will commence...

MacroMicro_Global

US Non-farm Payrolls up 916K in March, unemployment rate dropped from 6.3% to 6%. The March Manufacturing PMI registered a record high 64.7 percent, and the March Services PMI registered at a 16-year record high 63.7 percent. As we mentioned before, the US economy in Q2 would be benefited by the Manufacturing and Services industry. MM Analysis US Non-farm...

MacroMicro_Global

The consumer confidence index increased to 109.7 in March from 90.4 in February, which beat the economists' forecast at 96.9 Consumers’ assessment of short term outlook on salaries, employment rate and commercial activities increased , with an optimism view on the domestic consumption market MM Analysis The consumer confidence index reached 109.7 in March,...

MacroMicro_Global

"The amount of fiscal support the economy has received is historically large and that's going to result in higher economic activity and hiring," Federal Reserve Chairman Jerome Powell said in an interview with NPR's Morning Edition, on March 25. According to Powell, the Fed is moving to deactivating the lending facilities, and will gradually roll back the amount...

MacroMicro_Global

On 23rd March, Bank of Canada announced the discontinuation of market functioning programs introduced during COVID-19, according to the deputy governor Toni Gravelle. MM analysis The discontinuation included the Commercial Paper Purchase Program (CPPP), the Provincial Bond Purchase Program (PBPP), and the Corporate Bond Purchase Program (CBPP), these programs...

MacroMicro_Global

Taiwan's export order totaled US$42.59 billion in February, with an YOY increase of 48.5%. The export order is estimated to grow even more by US$54.5 ~ US$56 billion in March, according to the ministry. MM analysis ICT ( +88.4% ), electronic products ( +52.4% ) and optical equipment industries ( +59.4% ) became the main driving force, drove up huge amount of...

MacroMicro_Global

1. Yields: Continued to peg 10-year JGB yield at "around zero", but widened the trading bond of 10-year JGB to plus minus 0.25% 2. Purchase of ETF: Ditched its 6 trillion yen guide for annual purchases of ETF , however, it will continue to buy equities as necessary with upper limits of about 12 trillion yen. 3. Interest Scheme to Promote Lending: Established...

MacroMicro_Global

The second $600 stimulus payment & Federal unemployment benefits have been sent out around mid-January. Consumption is expected to recover as fiscal stimulus takes effect and vaccine distribution picks up pace. Strong retail sales numbers drive ICEUS:DXY to $91. 10-year US Treasury yield also touched 1.3%. S&P 500 was pulled down by tech stocks. Gold declined...

MacroMicro_Global

Happy CNY 2021. Hong Kong Hang Seng Index closes higher by 1.1% for the 2nd day after CNY holidays. Hang Seng Tech Index also rose by 2.34%. HKEX:9618 rose by 6.4%, HKEX:6618 +5.8%, HKEX:3690 +2.78%. Fast-growing new economy continues to drive HSI.

MacroMicro_Global

Besides #WSB, # NYSE:AMC , # NYSE:GME , a few things you also need to know: ⇢ Fed policy rates unchanged at between 0 to 0.25% ⇢ Removal of words related to time in its statement ⇢ Surprising discontinuation of 1-month term repo operations ⇢ # DXY gained on Fed news, pushing stocks lower

MacroMicro_Global

Stock market cheered yesterday as Secretary Treasury nominee Janet Yellen testified at her confirmation hearing. Six points she made during the hearing: 1. More fiscal stimuli 2. The new administration won’t seek to weaken the dollar; the dollar should be determined by the market 3. Pandemic relief before tax hikes 4. She’s examining the prospect of issuing...