Morning Update – 29/04/16 – by Arjun Lakhanpal

Morning all.. Stocks had a poor run into the Wall St close and accelerated to close down 0.92% with the Dow down over 200 points. With Japan closed for a holiday it was HK that fell 1.2% and USDJPY made another new low at 107.09.. With Japan closed for Golden Week and month-end, liquidity is not good at all and this may be the case into London. EUR a little higher on broad dollar weakness but also on comments from Praet: negative rates have been very effective; rates can be cut further but only if the inflation outlook worsens distinctly; not expecting this in the near future; we should not be talking about new instruments; helicopter money is not on the table, not even informally; ECB has additional tools if risks re-emerge.. The dollar dropped against all of its G-10 peers after weaker-than-expected U.S. economic growth dimmed prospects for a Federal Reserve interest-rate increase at a time when monetary easing is being put on hold elsewhere. Asian stocks fell and crude oil traded near $46 a barrel. The Bloomberg Dollar Spot Index sank to an 11-month low, while the yen was headed for its biggest weekly jump since 2008 after the Bank of Japan unexpectedly refrained from adding to record stimulus on Thursday. Month end distortions need to be considered today..This morning we get French PPI and CPI and Spanish GDP. In the UK we get Mortgaage apprrovals and EU CPI and GDP.. A Busy day ahead.. good luck..