Friday Wrap‑Up: Markets Stayed Calm, but Tomorrow Brings a Data Storm
Hey folks, happy Friday! The week has been a bit of a snooze button for the markets, but there’s a fresh wave of data rolling in today that should add some spice to the trading lineup.
What Happened on Thursday?
- Stock Moves – Shares traded a touch softer as Wall Street pulled back from those record highs. Nothing spectacular, just the usual ebb and flow.
- The Dollar – The greenback slid a bit against most G10 currencies, giving the euro and the yen a little breathing room.
- Gold’s Shine – The precious metal kept climbing, hitting new peaks. The $3,000/oz target still feels more like a “when” rather than an “if.”
- Japanese Yen – With USD/JPY dipping below 150 for the first time since early December, the yen got a slight lift thanks to expectations of more Bank of Japan hikes.
Quiet Day, Quiet Data
Thursday’s releases were sparse: mainly the weekly U.S. jobless claims, which stayed in line with forecasts. The data sent a muted “nice, we’re not going anywhere” signal. Treasury Secretary Bessent chatted on Bloomberg, suggesting a long way to go before rolling off the debt ceiling. While he’d love to reduce T‑bill issuance, it looks like that’s still years away.
Looking Ahead: Data to Watch
- PMI Flash Reads – Quick updates from the eurozone, U.K., and U.S. show the U.S. outperforming its peers while the U.K. slows a bit.
- Retail Sales & Borrowing – Today’s U.K. numbers hint at a softer retail sector, and public borrowing figures will set the stage for Chancellor‑Reeves’ upcoming spring statement.
- Canada & U.S. Housing – Canadian retail sales, U.S. existing home sales, and a final read on UMich consumer sentiment are on the docket.
Watch the Weekend
German federal elections are happening this weekend. Expect potential gapping in the EUR, Bunds, and the DAX as exit polls swell at 5 p.m. GMT, just before the market opens for a new week. Keep those eyes peeled – the political play could stir the markets.
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