Chinese PMI numbers scheduled for release this evening along with the Reserve Bank of Australia's monetary policy announcement. Two major central banks have monetary policy meetings this week and both are expected to be cautious about the outlook for the global economy. There is a good chance the ECB will talk about the possibility of additional stimulus (rate cut or LTRO).
http://www.fx360.com/?et_cid=21311815&et_rid=wallstreet1928@gmail.com
Stock markets in China and Japan are closed today. Hang Seng +1.1%.
CANTOR INDEX see modest rally re opening - FTSE +6, DAX +13, CAC unch
http://uk.reuters.com/article/2012/04/27/uk-spain-economy-huge-idUKBRE83Q0CJ20120427
The first is risk appetite - the increase in liquidity from the Bank of Japan and the potential rate cut from the Reserve Bank of Australia next week reinvigorated the risk rally.
The PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) has a clear head and shoulders pattern on the daily chart. Head and shoulders patterns are bearish in nature and usually mean more downside for that particular chart. This pattern has triggered on the UUP which is the Dollar tracking ETF. Note the chart below. Because the Dollar trades inverse to the markets, the markets could see a little more upside in the coming days. This would be prior to the next fall that is on the horizon.
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http://www.marketwatch.com/story/fed-stands-pat-sees-gradual-improvement-2012-04-25?siteid=bulletrss
Office for National Statistics that Britain's gross domestic product fell 0.2 percent in the first quarter of 2012 on top of a 0.3 percent decline at the end of 2011
http://uk.reuters.com/article/2012/04/25/uk-economy-idUKBRE83O0BY20120425
Analysts will be looking for any indication whether policy makers have become more or less inclined to expand the Fed’s bond-buying program often called quantitative easing.
http://www.marketwatch.com/story/dollar-adds-to-losses-ahead-of-fed-statement-2012-04-24
The 2 most important items drawing immediate market scrutiny in todays FOMC statement/projections are (in this order)
