HAPPY NON-FARM PAYROLL DAY!
SEA OF GREEEEEN
China weighs a slew of support packages for the property market and economy
Yuan strengthens against the dollar. Hang Seng RIPS
- Hong Kong: Hang Seng closed up +4.02%!!!!!
- China CSI 300 +1.44%%
- Taiwan KOSPI +1.25%
- India Nifty 50 +0.21%
- Australia ASX +0.24%%
- Japan Nikkei +1.38%
- European bourses in all in positive territory so far this morning
- US indices in positive territory so far in pre-market, USD down -0.09%
Overnight News/Data
Non-Farm payrolls today. Take A Look At What The Top Economists Are Forecasting In Today’s US Jobs Report
Economists See More Chance of Near-Term BOJ Change Than Markets -BBG
Around two-thirds of economists said they expected the central bank to tighten policy by July in an April survey by Bloomberg
By contrast, market pricing suggests investors see little in store over the coming months as BOJ Governor Kazuo Ueda’s dovish messaging gains traction.
NATO Chief Urges Allies to Sign Defense Deals to Boost Output-BBG
NATO allies need to sign more contracts with defense companies to boost production given their ammunition stocks are running dry
This is good news for defense stocks.
China Mulls New Property Support Package to Boost Economy-BBG
China is working on a new basket of measures to support the property market after existing policies failed to sustain a rebound in the ailing sector, according to people familiar with the matter.
Regulators are considering reducing the down payment in some non-core neighborhoods of major cities, lowering agent commissions on transactions, and further relaxing restrictions for residential purchases under the guidance of the State Council
This is what got the markets excited overnight. Good news for commodities.
The Saudis want the US to help build a ‘nuclear Aramco’-Semafor
Riyadh has proposed to visiting American leaders developing a joint U.S.-Saudi project to build the country’s civilian nuclear energy program, four people briefed on the plans told Semafor.
The project — referred to as “nuclear Aramco” — is designed to bolster Saudi Arabia’s ambitions to produce, and potentially export, atomic energy, while also addressing U.S. and international concerns about the proliferation of nuclear weapons technology.
Under this nuclear partnership, the Saudis have told interlocutors, an Arabian American Nuclear Power Co. could be formed that would give U.S. companies and entities a direct role in the development and oversight of nuclear power development in Saudi Arabia. But the enrichment of uranium would still occur inside its borders.
Geopolitically this is very important as many have suggested that Saudi Arabia is pushing away from the United States and the West toward China. This move would further solidify US/Saudi relations.
Put those thoughts away about oil no longer being priced in USD
US DATA TODAY
