Trading yesterday in the UK had little macro news to drive markets, with the media focusing on the passing on first female Prime Minister of the UK. Thatcher was a controversial character, who in the City of London is usually revered and hailed for reviving the UK economy, but her policies were not without critics, especially from those who lived in communities with an industrial/mining focus.
The media is awash with opinion pieces from all parts of the political spectrum, but there is a very interesting piece written by Allister Heath Editor of CityAM, a London newspaper.
Chinese inflation data released over night, showed that it had eased from last month’s 10-month high. Concerns of a so-called hard landing of the Chinese economy have been replaced by the likelihood of a soft landing. Chinese CPI rose 2.1% in March (YoY)
Cyprus will struggle to pay its civil servants and pensions this month due to a budget shortfall of at least €75m (£63.9m), the country’s accountant general said yesterday - CityAM
An index of UK house prices rose in March as transactions picked up and the outlook improved - RICS
Deutsche Bank cuts its 2013 copper price by 3%, and aluminium 2013 price forecast by just over 4%
The Yen continues to weaken, with EURJPY trading at a 3 year low, and USDJPY trading with a 99 handle for the first time since Spring 2009
The rhetoric from North Korea continues to concern world leaders, with the US Pacific Commancer calling N. Korea a "Clear" threat - Bloomberg
Chinese export-data skepticism over the unprecedented back-to-back release of better than forecast data is widening from Goldman Sachs to Nomura - Bloomberg