Above expectations Chinese data which refresh Asian markets and oil


Above expectations Chinese data which refresh Asian markets and oil

Above expectations Chinese data which refresh Asian markets and oil:

Yesterday, China published its own export and import figures,
which supported oil markets and negatively affected its 2 exchanges.

Evest is following up daily on what is happening on the economic scene and transmits it directly to you.


Chinese data supporting oil

Global oil prices rose on Tuesday morning, after publishing statistics of Chinese exports and imports.


London Stock Exchange

In the London Stock Exchange for Ice Futures, Brent crude futures for June rose by $ 0.34 or 0.54% to record $ 63.62 a barrel.

After Monday’s results, the price of this item of oil rose by $ 0.33 or 0.5% to trade at $ 63. 28 a barrel.


NYSE electronic session

In May at the NYSE electronic session, the price of West Texas Intermediate crude futures rose by $ 0.29 or 0.49% to record $ 59.99 a barrel.

After the results of the previous session, these contracts rose by $ 0.38 or 0.6% to reach $ 59.70 a barrel.

The current difference between Brent crude and West Texas Intermediate crude is $ 3.63 in favor of Brent crude.

According to experts

According to experts, the price of black gold was supported by a report of China’s foreign trade,
which witnessed a strong expansion in March.

This refers to an acceleration in the recovery of the world’s second-largest economy, China, which is the world’s largest oil importer.


Presentations assess total statistics for one of the largest oil importers, China.

Thus, in March, China’s exports increased by 30.6% on an annual basis, while imports rose by 38.1%.

This is the highest rate since February 2017.

Increase in China’s exports

Analysts expected a slightly larger increase in China’s exports, but imports were better than expected.

From January to March this year, China’s exports increased by 49% compared to the same period last year.

In the first quarter of 2021, China’s foreign trade grew by 38.6% on an annual basis to reach $ 1.3 trillion.

The country’s exports increased by 49% to record $ 709.97 billion,
while imports increased by 38% to record $ 593.62 billion.


China’s positive balance of the first quarter was $ 116.35 billion,
almost nine times higher than the same period last year.


There has been some volatility in oil prices during the last few weeks due to uncertainty regarding demand expectations for raw materials.


On the other hand, the accelerating rate of vaccinations in the world offers hopes for early removal of mobility restrictions, and on other hand, resumption of the rapid spread of Coronavirus in the world again slows the recovery of economic processes.


An increase in the number of infections in the European Union in conjunction with slow vaccination is impeding higher oil prices, as investors fear that the epidemic may last longer than previously thought.


Positive tradings for Asian indicators

Leading indicators have significantly risen in Asia and the Pacific.

Investors were reassured by good Chinese trading data in March,
but they were warned on eve of a results season for companies and before the US inflation date was released.


On Tuesday, Tokyo Stock Exchange rebounded, wiping out almost all of its losses of the previous day,
while markets await the brunt of the corporate earnings season and US inflation figures in March.


Japan’s Nikkei index rose by 0.72% to record 29,751.61 points after it lost 0.77% on Monday,
while the broader Topix index rose only 0.2% to record 1958.55 points.


The first measure of inflation in the United States for March was supposed to be released on Tuesday.


On Monday, the Biden administration was assured of fears of hyperinflation,
announcing that it expects a “modest” price rise during the next few months,
quickly followed by a return to the normal case.


Shanghai Composite Index began to fall after releasing of Chinese data and is now losing 0.4% in other markets.

In Korea, the Kospi index rose by 0.9%.


On the Chinese Market, Hong Kong’s Hang Seng Index rose by 0.5%,
but Shanghai and Shenzhen indexes slightly retreated at the end of the session.

In Sydney, the index fell by 0.11%.

Seoul was 0.92% high.


In the United States, big banks will be the first to publish their rapid reports during this week.

In Europe, the French luxury LVMH series, British retail chains JD Sports, French Connection,
and Gevaudan Switzerland, the world’s leading perfume manufacturer will also publish their reports.


Expectations for DAX rise and FTSE drop

Analysts expect Britain’s FTSE index to decline by 4 points, while Frankfurt’s DAX to rise by 21 points,
but France’s CAC to rise by 7 points on opening.


Yesterday, London closed trading at 0.39%, while Frankfurt and Paris closed at 0.13%, but Madrid 0.39%.

In Milan, the benchmark slightly rose by 0.11%.


Among European indicators, the Stoxx Europe 600 index fell by 046%,
while the FTSE Euro first 300 fell by 0.43%, but Euro Stoxx 50 declined by 0.43%.


Awaiting in Wall Street

Stock markets slightly fell on Monday before expected inflation data from the United States today and the full start of the profits season for the first quarter, later in this week.


Standard and Poor’s 500 indexes closed at a minimum of 0.01%,
while the Dow Jones Industrial Index closed down by 0.16%.

Nasdaq Composite market closed down by 0.36%.

Futures indicators are also likely to open at a decrease today.


Today’s CPI data from the United States will be closely monitored.

For the first time since last January, annual growth is expected to exceed 2% to 2.5%,
supported by economic recovery along with higher commodity inputs.


The Federal Reserve has repeatedly announced that it will not mind inflation at these levels this year, as it is considered transitional.

The Fed intends to tighten monetary policy when it observes sufficient improvement in the labor market in particular.

If inflation rises faster, it will encourage growth in bond yields and speculation about an early tightening of monetary policy, which will be somewhat negative for stock markets in terms of influencing valuation.


During yesterday’s tradings, bond yields were fairly stagnant below 1.7,
and demand for US government bonds was strong for 3 and 10 years.

Therefore, it didn’t particularly affect markets.