Daily Alert – Thursday 6th April 2023: Markets slightly gloomy

Mark NugentApril 2023, Daily Alert

Daily Alert – Thursday 6th April 2023: Markets slightly gloomy

Good morning.

Yesterday was moderately risk-off, in this shortened week, as markets fret about the global economy.

In the US, Services PMI joined Monday’s Manufacturing PMI, in missing expectation to the downside. We also saw ADP Employment Change, normally a good predictor of Friday’s important Non-Farm Payroll number, missing to the downside as well. Maybe all that rate hiking is finally having its effect.

My EURUSD is underwater as the EUR decided to have a down-day yesterday. The rot seems to have stopped and hopefully the trade will improve as the day rolls on.

I’ll be back tomorrow with your Performance Report for March.

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