Financial Markets Daily Report 19 April 2022
Investors started the week with no clear direction, as traders digested mixed signals from the GDP data in China and corporate results in the US. Financial markets were closed across Europe, Australia and Hong Kong.
- Investors started the week with no clear direction, as traders digested mixed signals from the GDP data in China and corporate results in the US. Financial markets were closed across Europe, Australia and Hong Kong.
- Real GDP in China surprised to the upside, rising by 4.8% y/y in Q1 after 4.0% in Q4. The monthly data, however, confirmed a decline in private consumption in March, amid the increase in COVID cases and the imposition of restrictions. Separately, the World Bank revised down its forecast for global GDP growth this year to 3.2% (-0.9 pp).
- In this context, stocks declined modestly in the US and across Asia, while oil prices rose as outages in Libya deepened concerns over tight global supply amid the Ukraine crisis.
- In the economic calendar, the focus this week will be in the flash PMI April reports across advanced economies on Friday. In addition, the second round of the French presidential elections will take place on Sunday.