WHAT HAPPENED OVERNIGHT IN THE US:
∑ S&P -0.1%, struggled to hold mid-week gains in patchy trade.
∑ USD remained soft - another one-week-low - on dovish comments from Fedís Rosengren, and higher weekly jobless.
∑ Homebuilders -2.2% disappointed by March Starts +2% - versus expectations of a big rebound that didnít materialise after a weak Feb.
∑ Gold held $1200 in support of producers (Newmont on track for best week since Jan), but Goldfields -8% lost another 6% from SA close, still reeling from poor production nos earlier in the week...
WHATíS UP THIS MORNING IN THE EAST:
∑ Asia mixed. China +2%, now up 6% for the week, 14% for the month Ė and 30% for the year (runaway global best).
∑ But Hong Kong +0.2% lagging the mainland; Tencent -0.2% heading for first weekly loss in 3. Japan -0.5% has given back all mid-week gains.
∑ Australia -1.3%, back in the red for the month. BHP -1.5% & Rio -1.8%, both indicate London -0.5%. Iron ore didnít hold $50 yesterday Ė and oil off overnight highs.
SOUTH AFRICAN NEWS:
∑ Expect AllShare -0.25%. From SA close yesterday, gold +$4 ($1200), plat +$3 ($1160), copper unchanged ($2.76/lb), oil +1% ($63.40), USDZAR -0.5% (11.96), S&P unchanged.
TODAYS KEY DATA POINTS:
∑ 10am: Eurozone Feb C/A
∑ 10.30am: UK March Claimants (-29.5k), Feb Unemployment (5.6%)
∑ 11am: Eurozone March CPI
∑ 12pm+: GE (30c), Honeywell (139c), Reynolds (80c)
∑ 2.30pm: US March CPI (0.0% y/y)
∑ 4pm: US April Uni of Mich Consumer Confidence, March Lead Index