U.S. indices closed higher on Thursday, led by shares in the Automobiles & Components (+1.41%), Transportation (+1.22%) and Banks (+1.16%) sectors. On the economic data front, final readings of 4Q annualized GDP rose 2.2% QoQ (expected +2.3%, previously estimated +2.6%, +3.4% in 3Q). In other news, initial jobless claims slightly decreased to 211K in week ended March 23 (expected 220K) from 216K in the previous week while continuing claims increased to 1.756M in week ended March 16 (estimated 1.778M) from 1.743M a week earlier. Pending home sales declined by 1.0% MoM in February (forecasted -0.5%, +4.3% in January). The S&P 500 (2,815.37) stays above both its 20d moving average (2,802.46 – positive slope) and 50d moving average (2,751.24 – positive slope).
European markets are expected to start on a positive note.<\/p>\n\n\n\n
Foreign Exchange<\/strong><\/p>\n\n\n\n The US dollar was bullish against all of its major pairs on Thursday. On the economic data front, annualized GDP increased by 2.2% QoQ in 4Q in a third estimate (forecasted 2.3%) from 3.4% in 3Q2018. Also, personal consumption advanced by 2.5% in a third estimate in 4Q (estimated 2.6%) compared to 3.5% in 3Q2018. In other news, initial jobless claims slightly decreased to 211k in week ended March 23rd (expected 220k) from 216k in the previous week while continuing claims increased to 1.756M in week ended March 16th (estimated 1.778M) vs. 1.743M a week earlier. Pending home sales declined by 1% MoM in February (forecasted -0.5%) from 4.3% in the prior month. Finally, the Bloomberg consumer comfort index decreased to 60 in week ended March 24th vs. 61.5 in the previous week.
The Euro was bearish against all of its major pairs with the exception of the CAD and the GBP. Euro-zone consumer confidence was confirmed at -7.2 in March vs -7.4 in February. Germany CPI was up by 0.4% in March in first reading (+0.6% expected), the same pace than in February.
The Australian dollar was mixed against its major pairs.<\/p>\n\n\n\n