DJIA chart reading : pullback correction upside biased.
FTSE chart reading : side way range bound.
DAX chart reading : side way range bound little downside biased.
Hang Seng chart reading : side way range bound.
Drop in U.S. Jobless Claims, Rising Consumer Confidence Point to Recovery (Source: Bloomberg)
Fewer Americans filed claims for jobless benefits last week and consumer confidence stabilized, a sign the world’s largest economy is weathering the jump in commodity prices heading into the second quarter.
Japan Tankan Show Manufacturers Were Optimistic Before Quake (Source: Bloomberg)
Japan’s large manufacturers grew more confident about the economic outlook before the nation was hit by a record earthquake, a central bank survey showed today.
Federal Reserve Releases Discount-Window Lending Records Under Court Order (Source: Bloomberg)
The Federal Reserve released thousands of pages of secret loan documents under court order, almost three years after Bloomberg LP first requested details of the central bank’s unprecedented support to banks during the financial crisis.
Bank of Japan Is Said to Mull Emergency Loan Program After Quake (Source: Bloomberg)
The Bank of Japan is considering offering temporary loans to banks to aid companies with cash- flow shortages in the wake of the record March 11 earthquake, three people familiar with the matter said.
South Korean Inflation Accelerates to 29-Month High, Adding Rate Pressure (Source: Bloomberg)
South Korean inflation climbed to a 29-month high in March, breaching the central bank’s ceiling and adding pressure for another interest-rate increase. The consumer-price index rose 4.7 percent from a year earlier, compared with a 4.5 percent pace in February, Statistics Korea said today in Gwacheon, south of Seoul. That’s the fastest since October 2008 and compares with the median estimate of 4.8 percent in a Bloomberg News survey of 15 economists. Prices gained 0.5 percent from February.
Business Activity in U.S. Expands Faster Than Forecast in Chicago Survey (Source: Bloomberg)
Business activity in the U.S. expanded at a faster pace than forecast in March, signaling manufacturing remains a driver of growth in the world’s largest economy. The Institute for Supply Management-Chicago Inc. said today its business barometer fell to 70.6 this month from February’s 71.2 reading that was the highest since July 1988. The index exceeded the 69.9 median forecast of economists surveyed by Bloomberg News. Figures greater than 50 signal expansion.
U.S. Consumer Confidence Gains for First Time in Five Weeks, Index Shows (Source: Bloomberg)
Consumer confidence in the U.S. rose for the first time in five weeks as Americans said their finances were in better shape.
Ireland Counts on $142 Billion Package to End Worst Bank Crisis (Source: Bloomberg)
As Ireland’s bill to clean up Europe’s worst banking crisis reaches as much as 100 billion euros ($142 billion), the country’s authorities are counting on their latest financing plan to be enough.
Portugal Misses 2010 Deficit Target, Raising Chances of European Bailout (Source: Bloomberg)
Portugal reported a budget deficit of 8.6 percent of gross domestic product last year, missing a government target of 7.3 percent and causing a jump in borrowing costs that increases the risk of a bailout.
Bernanke Responds to Pressure for Transparency as Fed Discloses Borrowers (Source: Bloomberg)
For most of its 98-year history, the Federal Reserve has operated with all the transparency and enthusiasm for change of the Vatican. Now the ultra-secretive Fed is starting to change its ways, if somewhat grudgingly. Some of the new openness, such as Chairman Ben S. Bernanke’s plan for quarterly press briefings, is the central bank’s idea. Much of it comes under duress.
Orders Placed With U.S. Factories Declined 0.1% in February (Source: Bloomberg)
Orders placed with U.S. factories unexpectedly fell in February for the first time in four months, reflecting weaker demand for capital goods and military aircraft.
Japan’s Bond Futures Fall a Third Day on U.S. Jobs Prospects, Weaker Yen (Source: Bloomberg)
Japan’s bond futures fell for a third day before a report today forecast to show the U.S. added jobs for a sixth month, adding to signs of resilience in the global economic recovery.
Yen Falls a Seventh Day Before Reports on U.S. Jobs, French Manufacturing (Source: Bloomberg)
The yen weakened against all its major counterparts before reports that economists said will show U.S. employers added jobs and a gauge of French manufacturing held at the highest level in nine months.
Japanese Stocks Traded in U.S. Fall as Oil Surges; Australian Shares Gain (Source: Bloomberg)
Japanese stocks traded in the U.S. fell after oil prices surged, raising concern that higher energy costs will hamper the nation’s economic recovery. Australian stocks rose.
Fed Program Accepted More Defaulted Debt Than Treasuries (Source: Bloomberg)
The Federal Reserve accepted more defaulted debt than U.S. Treasuries as collateral to back $155.7 billion on the largest day of borrowing from the Primary Dealer Credit Facility, according to documents released today.
G20 lays bare different reform agendas at China forum
NANJING, China, March 31 (Reuters) - China pushed back on Thursday against pressure from Paris and Washington for swift reform of a global monetary system that French President Nicolas Sarkozy said is so unstable that it could tip the world economy back into crisis.
The diverging views, on display at the start of a meeting of the Group of 20 leading economies, underscored the difficulty Sarkozy faces to meet his goal of drafting a blueprint for the overhaul of the global monetary order by the end of the year.
Euro zone inflation surges ahead of ECB rate rise
BRUSSELS, March 31 (Reuters) - Euro zone inflation defied expectations of a small decline and rose in March, an estimate showed on Thursday, a week before the European Central Bank is expected to raise interest rates to stem price growth.
The European Union's statistics office Eurostat estimated that consumer prices in the 17 countries using the euro jumped 2.6 percent year-on-year in March, up from 2.4 percent in February. Economists polled by Reuters had expected 2.3 percent.
FOREX-Euro boosted by rate expectations, month-end demand
LONDON, March 31 (Reuters) - The euro rose broadly on Thursday as above-forecast euro zone inflation cemented the case for higher interest rates from the European Central Bank, though analysts cautioned against a rapid rise in the currency.
"The euro has priced in a lot of good news so it's hard to see it moving rapidly higher, but it can definitely continue on the upside," said Raghav Subbarao, currency analyst at Barclays Capital.
Stocks set for 3rd quarterly gain; yen falls
LONDON, March 31 (Reuters) - World stocks climbed to a new three-week high and the euro inched higher ahead of the publication of Irish bank stress tests aimed at capping one of the major risks in Europe's debt crisis. "Rate differentials are playing a big role, especially as there is no probablility for the BOJ to become more hawkish, even in the medium to long-term." said Manuel Oliveri, currency strategist at UBS in Zurich.
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