Eurozone Sentix investor confidence jumped to its highest since August 2018
Wall Street stocks closed higher overnight as investors had a delayed reaction to a strong jobs report, which was released on Friday when stock trading was closed. The U.S. government reported that employers added 916,000 jobs in March, the most since August.
Furthermore, yesterday’s data showed a gauge of U.S. services activity hit a record high. Against this backdrop, the S&P 500 rose 1.44%, the Dow Jones Industrial Average rose 1.13%, and the Nasdaq was 1.67% higher. Of note, the Dow and S&P 500 had closed at record peaks on Monday.
Today in Asia, stocks were mixed-to-positive. Japan’s Nikkei 225 lost early gains and fell 1.30% after household spending data showed a 6.6% decline in February. Besides, experts warned Japan to brace for a fourth wave of surging COVID-19 infections and deaths. South Korea’s Kospi added 0.20% while the Shanghai Composite in China slipped just 0.04%. Australia’s S&P/ASX 200 rose 0.84%. Hong Kong trading was closed for a holiday.
European equities gained on Tuesday as trading resumed after the Easter holiday. Investor sentiment improved due to upbeat economic data. Eurozone April’s Sentix investor confidence arrived at 13.1 versus 6.7 expected, jumping to its highest since August 2018. The pan-European Stoxx 600 gained 0.6% in early trade.
Meanwhile, the dollar regains ground following some hesitation earlier in the day. As a result, EURUSD was rejected from the 1.1820 region, to turn back below the 1.1800 figure while the key short-term resistance is still represented by the 20-DMA, today at 1.1850. the persisting Europe’s covid concerns and reports that China wants to curb credit may limit further recovery attempts in the near term. On the downside, the immediate support arrives at 1.1760.