Today on the agenda are the manufacturing PMIs of the Eurozone and the ISMs of the United States
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The Tokyo Stock Exchange started the first session of the week with an increase, in the wake of the bullish progression a Wall Street, after the better-than-expected US inflation data. Opening il Nikkei it advanced by 0.55% to 28,179.54, adding 138 points. On the foreign exchange market, the yen depreciated against the dollar to its lowest level in a week, at a level just above 133, and against the euro at a level of 143.70. Chinese Squares are closed for holidays.
The appointments
Today’s macro agenda includes the final indications of manufacturing companies recorded in March both in the Eurozone and in the United States.
In the euro area, the first estimate signaled a drop in thePMI index to 47.1 points (a low in the last 4 months) from 48.5 in February. A decrease in activity is also expected for Italy (from 52 to 51.4 points), which however remains expanding, bounded by the 50 points of the index.
In the United States, the equivalent parameter on the trend of manufacturing Ism is seen down slightly from 47.7 to 47.1 points.
Quarter in slow motion, but positive
Last week, equity lists benefited from a confidence recovery of investors regarding the stability of the banking system for most of the sessions and brought the indices to their highest levels since mid-March, since the Credit Suisse case broke out.
The month of March ended lower for most of the global Markets, but the balance for the first quarter of the year remains positive: il FTSE MIB di Piazza Affari is among the best performing indexes together with the Nasdaq (both up by more than 13%).
In this first part of the year also the bonds they have recovered, despite the rise in interest rates and the purchases are due to investors’ search for tranquility and returns, frightened by the uncertainties that emerged with the banks’ difficulties.
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