Despite a relatively light macroeconomic calendar, there’s still been plenty to keep an eye on in the markets today. Here’s a roundup of the key developments.
German Business Confidence Beats Expectations
The biggest data release came from Germany, where the latest IFO business climate index surprised to the upside.
The index rose to 86.9 in April, signalling a more optimistic outlook among German businesses than many had forecasted. This provided a modest lift to market sentiment across Europe.
US Unemployment Claims Remain Stable
Across the Atlantic, the most recent initial weekly unemployment claims in the United States were reported at 222,000.
While this figure was broadly in line with expectations, it continues to highlight a US labour market that, despite recent economic headwinds, remains resilient.
Dollar Feels the Pressure
Currency markets were relatively subdued overall, but the US dollar did experience some downward pressure yesterday.
Movements were minor, but the softer dollar reflects growing uncertainty around the trajectory of the US economy and interest rate policy.
UK Retail Sales Beat Forecasts
Closer to home, UK retail sales figures for March provided a positive surprise.
Sales rose by 0.4% month-on-month, defying expectations for a 0.4% decline.
Following the announcement, sterling firmed slightly in early trading, offering some encouragement to investors looking for signs of resilience in the UK economy.
Navigating Market Volatility
With currency movements and economic data continuing to surprise, it’s crucial to stay informed and agile.
For tailored insights on how today’s market developments could impact your business – or to explore opportunities to capitalise on volatility – contact one of our Qu Money experts today.