Forex News

In New York, the Dow Jones Index went up by 211 points or 0.56 percent on Friday. Top gainers were American Express (5.97%), JPMorgan (2.50%) and Amgen (2.35%). Biggest losses came from Amazon (-2.54%), Intel (-2.37%) and Microsoft (-1.29%).

The Ibovespa climbed 0.83% to close at 125,230 on Friday, supported by positive corporate developments and strong gains in the retail sector. Petrobras' shares advanced 2.21% amid reports suggesting the possibility of full extraordinary dividends distribution, pending confirmation next week. Additionally, Petz and Cobasi inked a non-binding agreement for a potential merger, propelling Petz shares by 41.71%. Cobasi intends to pay R$450 million to Petz shareholders, resulting in equal ownership between the companies. Moreover, Rede D'Or surged over 4.5% after Citi upgraded its recommendation to "buy." Retailers Alpargatas, Magazine Luiza, and Lojas Renner also posted robust gains of 5.18%, 1.33%, and 1.62%, respectively. However, despite Friday's positive performance, the Ibovespa posted weekly losses of 0.57%.

The S&P/TSX Composite index rose by 0.47% to close at 21,807 on Friday, driven by gains in the energy and financial sectors. Concerns over potential disruptions to global oil supply boosted the energy sector, with Suncor leading with a 1.15% increase in shares. Major banks, including TD Bank, BMO, and Royal Bank of Canada, also contributed to the index’s rise with gains of 1.31%, 1.11%, and 0.79%, respectively. However, despite the positive performance, the TSX ended the week with a loss of 0.42% as investor sentiment remained cautious due to heightened geopolitical tensions and expectations that the Federal Reserve will remain hawkish for longer.

The S&P 500 fell almost 0.9% to below 5K while the Nasdaq slid 2% on Friday, as Nvidia and Netflix dragged along with woes linked to geopolitical tensions and persistent inflation. Netflix sank 9% after its Q2 revenue guidance disappointed. Nvidia tumbled nearly 10% to book the biggest market-cap loser of the week. Other megacaps including Microsoft, Apple, Amazon and Meta also underperformed. Tesla lost 1.9%, a sixth consecutive session of declines, amid new security concerns regarding its vehicles. On the other hand, Dow Jones added 211 points boosted by a 6.1% gain in American Express after earnings and revenue beat expectations. Procter & Gamble gained 0.5% despite its quarterly sales came below forecasts. On the week, the S&P 500 fell 3.8%, its worst week in almost six months. The Nasdaq ended the week 6.1% lower to mark its longest losing streak over a year and the Dow Jones lost 0.9%.

Top commodity gainers are Cocoa (8.29%), Cheese (2.58%) and Corn (1.55%). Biggest losers are Lumber (-1.68%) and Palm Oil (-1.53%).

Top commodity gainers are Silver (1.80%), Copper (1.34%) and Gold (0.62%). Biggest losers are Lithium Carbonate (-0.90%) and Platinum (-0.83%).

Top commodity losers are Natural Gas EU Dutch TTF (-4.47%) and Natural Gas UK GBP (-4.40%). Gains are led by Crude Oil WTI (0.70%), Heating Oil (0.66%) and Methanol (0.65%). In addition, there was a slight change on Brent Crude Oil (0.43%).

Philip Morris International increased to a 4-week high of 92.70 USD. Over the past 4 weeks, Philip Morris International lost 1.07%, and in the last 12 months, it decreased 4.21%.

American Express increased to a 4-week high of 229.93 USD. Over the past 4 weeks, American Express gained 0.84%, and in the last 12 months, it increased 40.75%.

WTI crude futures stabilized above $83 per barrel on Friday, recovering from earlier losses, after Iran downplayed Israel’s attack on its soil, mentioning it has no plan for retaliation. In a retaliatory move, Israel launched a strike early on Friday, leading to Iran’s air defense system intercepting three drones over the city of Isfahan. Traders had been on edge awaiting Israel's response to last weekend's aggression, with tensions further fueled by Iran's warnings against attacks on its nuclear sites. Additionally, the United States imposed new sanctions on Thursday targeting 16 individuals and two entities linked to Iran's drone program. This action is part of the U.S.'s efforts to retaliate against Iran for its recent attack on Israel. The EU is also contemplating new restrictions on Iranian oil. Brent crude oil is down around 4% for the week, following a 0.7% drop in the previous period.

In the United States, all eyes will be on Q1 GDP growth rate and PCE prices, alongside personal income and spending figures. Additionally, investors will closely monitor durable goods orders, S&P Global Manufacturing and Services PMI's and pending and new home sales. Also, earnings season will hit a crescendo with over thirty companies boasting market caps exceeding $100 billion set to unveil their financial reports. Meanwhile, manufacturing and services PMI’s will be released for Australia, Japan, India, France, Germany, the Euro Area, and the United Kingdom. Also, consumer confidence data will be scrutinized for the Euro Area, South Korea, Italy, Germany, and the United Kingdom. Finally, investors will closely watch: interest rate decisions in Japan, China, and Turkey interest rates decisions, Australia's inflation date, and South Korea's GDP growth rate.

Colombia’s trade deficit widened to USD 1.010 billion in February 2024, up from USD 0.856 billion in the same period last year, as exports experienced a sharper decline compared to imports. Exports dropped by 10.1% to USD 3.810 billion, primarily due to decreased shipments of fuels and extractive industries (-23.4%), driven by reduced sales of coal, coke, and briquettes (-35.9%). Furthermore, exports from other sectors decreased by 4.7%, mainly attributed to lower sales of non-monetary gold (-4.1%). Meanwhile, imports declined by 4.7% year-on-year to USD 4.820 billion, marking the sixteenth consecutive month of decreases, driven by reduced purchases of manufactured products (-3.7%) and fuels and products from extractive industries (-19.2%).

Meta decreased to a 4-week low of 481.75 USD. Over the past 4 weeks, Meta Platforms, Inc. lost 4.43%, and in the last 12 months, it increased 126.75%.

Imports to Colombia decreased by 4.7% year-over-year to USD 4.820 billion in February 2024, marking the sixteenth consecutive monthly decline. The decrease was due to lower purchases of manufactured products (-3.7%) and fuels and products from extractive industries (-19.2%). Key import partners included China (24.3% of total acquisitions), US (23.2%), and Mexico (6.2%).

In Milan, the FTSE MIB Index went up by 208 points or 0.62 percent on Friday. Top gainers were Terna Rete Elettrica Nazionale (2.20%), Diasorin (1.79%) and Enel (1.41%). Biggest losses came from Buzzi Unicem (-2.20%), Saipem (-2.10%) and STMicroelectronics (-2.09%).

The S&P 500 fell 1% to below 5K while the Nasdaq slid more than 2% on Friday as post earnings slump in Netflix added to woes linked to geopolitical tensions and persistent inflation. Netflix sunk more than 8% after its Q2 revenue guidance disappointed followed by megacaps including Microsoft, Apple, Nvidia, Amazon and Meta. Also, Procter & Gamble was slightly down after its quarterly sales came below forecasts and Tesla lost 0.5%, a sixth consecutive session of declines, amid new security concerns regarding its vehicles. On the other hand, Dow Jones added over 100 points boosted by a 5% gain in American Express after earnings and revenue beat expectations. On the week, the S&P 500 is down around 4% so far, its worst week in almost six months. The Nasdaq is on track to end the week 6.3% lower and the Dow Jones 1.1% down.

European shares trimmed sharper losses from the morning but still closed in the red, heeding to geopolitical risks in the Middle East following Israel’s retaliation to Iran’s airstrike during the last weekend. The Eurozone’s Stoxx 50 dropped 0.4% to close at 4,919, marking a 0.7% drop on the week, while the pan-European Stoxx 600 closed slightly under the flatline at 499, a 1.2% drop from last Friday. Tech shares led the losses for another session, as ASML extended this week’s plunge with a 2.3% decline following its pessimistic earnings report on Wednesday, booking a 10% plunge on the week. Consistently, Ayden dropped 3%, while SAP retreated 1.8% ahead of its results release on Monday. On the other hand, L’Oreal led the gains with a 5% surge after delivering strong sales figures for the first quarter, triggering sharp buying activity for other consumer staples.

The FTSE 100 closed higher on Friday, with Mondi shares leading the way with a more than 9% gain. The British packaging company decided against bidding for DS Smith, who had agreed to a 5.8 billion pound deal with International Paper. Consequently, DS Smith's shares plummeted by 10%. As a result, DS Smith saw a 10% drop in its shares. In other corporate news, 888 bookmaker exceeded revenue forecasts for the first quarter, driven by strong customer activity and expects further growth in the next quarter. On the other hand, domestic retail data showed a bleak picture, with sales remaining flat in March.

The CAC 40 posted marginal losses to close at 8,022 on Friday, as investors sought safety amidst persistent concerns of broader conflict in the Middle East and a hawkish Federal Reserve. Nearly all sectors of the Paris exchange declined, led by a 6.65% slide from Worldline, and followed by a 6.88% slump for Edenred and 3.23% drop for Schneider Electric. On a positive note, L’Oréal shares surged by 5.04% after the company reported a robust 9.4% increase in Q1 sales on a like-for-like basis, reaching a four-week high of EUR 442.75. For the week, the CAC 40 rose by 0.6%.

The FTSE MIB rebounded from its morning dip to close in positive territory at 33,922 on Friday, mirroring the performance of its European peers, with concerns over escalating Middle Eastern conflict easing due to a lack of significant reports indicating damage and Tehran's efforts to downplay the situation. The top-performing sectors for the day were utilities and financials. Notable gainers included Terna (+2.2%), Diasorin (+1.8%), and Enel (+1.4%). On the flip side, Stmicroeletronics (-2.3%), Saipem (-2.1%), and Iveco Group (-1.5%) were the biggest laggards. For the week, the FTSE saw an approximate 1.3% increase.