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This Article is From Mar 26, 2018

All You Need To Know Going Into Trade On March 26

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All You Need To Know Going Into Trade On March 26
Pedestrians walk past the Bombay Stock Exchange (BSE) building in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

The sell-off that sent global markets into a tailspin last week stretched into Monday, with stocks in Japan and Australia declining amid concern that global growth may be hurt by American protectionist policies.

The Singapore-traded SGX Nifty, an early indicator of NSE Nifty 50 Index's performance in India, fell 0.1 percent at 9,974 as of 7:15 a.m.

Short on time? Well, then listen to this podcast for a quick summary of the article!

DayBreak

Global Cues

  • U.S. stocks tumbled, sending the S&P 500 Index to its biggest weekly loss in more than two years, on concern that a trade war and higher borrowing rates could throttle global growth.
  • The yield on 10-year Treasuries fell one basis point to 2.82 percent.

Europe Check

  • The euro rose 0.5 percent to $1.2362, the strongest in more than a week.
  • The British pound increased 0.3 percent to $1.4137.
  • Germany's 10-year yield was little changed at 0.53 percent.
  • Britain's 10-year yield gained one basis points to 1.44 percent.

Asian Cues

  • Japan's Topix index declined 1 percent.
  • Australia's S&P/ASX 200 Index lost 0.5 percent.
  • South Korea's Kospi index dropped 0.3 percent.
  • The MSCI Asia Pacific was down 0.4 percent after falling 3.5 percent last week.
  • The S&P 500 Futures added 0.3 percent.

Here's a list of what's coming up this week:

  • U.S. personal income and spending data for February, coupled with the Fed's favored inflation gauge are the key pieces of U.S. data. Income and spending are forecast to grow at the same pace as January but consensus sees the core PCE deflator picking up to 1.6 percent from 1.5 percent.
  • This week's European economic agenda is highlighted by March CPI readings in the big four euro-area economies and output data for the U.K. Headline inflation probably ticked up in Germany, France, Spain and Italy. A third estimate of U.K. GDP is set to confirm growth of 0.4 percent in the fourth quarter.
  • The U.S. Treasury will probably auction about $294 billion of bills and notes this week, its largest slate of supply ever.
  • Crude oil contracts will begin trading Monday on the Shanghai International Energy Exchange.

Commodity Cues

  • West Texas Intermediate crude climbed 0.7 percent to $66.34 a barrel.
  • Brent traded 0.4 percent higher at $70.8 per barrel after closing 2.2 percent higher on Friday.
  • Gold increased 0.1 percent to $1,348.76 an ounce, around the highest in more than a month.
  • Sugar snapped two-day winning streak; ended 1.6 percent lower at 12.6 cents per pound.

Shanghai Exchange

  • Steel traded lower for third day; down 2.6 percent.
  • Aluminium traded lower for second day; down 0.3 percent.
  • Zinc traded higher; up 0.4 percent.
  • Copper traded lower for second day; down 0.8 percent.
  • Rubber traded lower for seventh day; down 5.8 percent.

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