iFund- Daily Market Commentary

2019-04-12 01:11
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The chief economic adviser of the White House  Kudlow once again appealed to the Fed to cut interest rates by 50 basis points. British Prime Minister Theresa May hinted that a compromise could be reached on the customs union, which the Brexit would be more moderate. China will release trade data for March today, and exports are expected to reverse the year-on-year decline in February, and the trade surplus is expected to expand.

    • The Dow Jones Industrial Average closed at 26.11.05 points, decreased by 14.11 points or 0.05%. The Standard & Poor’s 500 Index closed at 2,888.32 points, increased by 0.11 points or 0.00%. The Nasdaq index closed at 7,947.36 points, decreased by 16.88 points or 0.21%.
    • A number of Fed officials hinted that the threshold for raising interest rates is high when the inflation rate continues to be below the target of 2% and the economy faces many risks.
    • US House Speaker Pelosi said before the meeting with Federal Reserve Chairman Powell that the nomination of Herman Cain and Stephen Moore to the Fed Council would be dangerous.

    • The UK’s FTSE 100 index closed at 7,417.95 points, decreased by 3.96 points or 0.05%. The Frankfurt DAX index closed at 11,935.20 points, increased by 29.29 points or 0.25%. The French CAC40 index closed at 5,485.72 points, increased by 35.84 points or 0.66%.
    • Theresa May, the British Prime Minister hinted that efforts are being made to reach a compromise with domestic political opponents for the formation of a customs union with the EU after the Brexit, which the Brexit would be more moderate.
    • European Central Bank official Knot called for a new round of bank loans should be more conservative, against the side effects of easing negative interest rates.

      • Japan’s Nikkei 225 index closed at 21,711.38 points, increased by 23.81 points or 0.11%. The yen closed at 111.120 against the US dollar, increased by 0.090%.
      • The governor of Bank of Japan, Haruhiko Kuroda said the global economic growth is slowing, and the economy in China and the European are expected to recover in the second half of the year.

      • The Shanghai Composite Index closed at 3,189.96 points, decreased by 51.97 points or 1.60%. The Shanghai and Shenzhen 300 Index closed at 3,997.58 points, decreased by 88.27 points or 2.16%. The RMB closed at 6.716 to 1 US dollar, increased by 0.016%.
      • The Chinese Foreign Ministry said that the latest round of trade negotiations has made substantial progress and declined to comment on the Trade Executive Office. The Chinese Ministry of Commerce said that the leaders of the Sino-US negotiations have talked about the remaining issues and the two sides will closely communicate.
      • China will release trade data for March today. US dollar-denominated exports are expected to grow 6.5% year-on-year, reversing a 20.8% decline in February. However, the rebound more reflects seasonal factors rather than the actual fundamental improvement in exports.


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