Key overnight events:

  • US non-farm payrolls rose 215,000 in March, more than the expected 205,000. Average hour earnings rose 0.3% month-on-month, more than the 0.2% forecasted, while manufacturing payrolls dropped by 29,000, missing the 2,000-rise estimated.
  • ISM manufacturing for March came in at 51.8, beating the 51.0 expected
  • WTI futures expiring in May sank 3.9% on Friday to settle at $36.79/bbl, after Saudi Arabia’s deputy crown prince Mohammed bin Salman said the nation will only freeze oil output if Iran and other major producers do so too.
  • The S&P 500 Index added 0.6% last Friday, advancing to its highest levels this year. Health care and technology stocks led gainers, offsetting declines in energy shares.



  • Spot 1.3503
  • USDSGD ended Friday with a 1.5% decline for the week, after sinking to a 9-month low of 1.3415.
  • PMI for March is due out tonight and is expected to improve to 48.9, from 48.5 previously.



  • Spot 0.7638
  • Retail sales for February came in unchanged, missing the 0.4% month-on-month increase that was expected.
  • AUDUSD fell as much as 0.5% lower to 0.7637 following the disappointing retail sales release.
  • The RBA is expected to leave its benchmark rate unchanged tomorrow, despite the Aussie dollar strengthening more than 12% since mid-January this year.



  • Spot 1.3038
  • Manufacturing PMI improved to 51.5 in March, from 49.4 previously.
  • USDCAD continues to be supported above the 1.3000 handle after rebounding off near the key support of 1.2832 late last week.
  • Driven by oil’s slump on Friday, USDCAD rebounded to a day-high of 1.3147.



  • Spot 6.4691
  • China may allow banks to convert 1 trillion yuan of bad loans into equity in the initial phase of the plan, Caixin Weekly reported, citing an unidentified executive from China Development Bank.
  • USDCNH ended 0.8% lower for the week to close at 6.4714.
  • Financial markets in Hong Kong and China remain shut today due to a national holiday.



  • Spot 8.3030
  • Manufacturing PMI for March slumped to 46.8, worse than the 48.0 forecasted. The prior month’s figure was revised 0.1 lower to 48.3.
  • USDNOK rebounded from more than a 5 month low of 8.2511, back to 8.3500, on the back of oil’s declines on Friday


© Jachin Capital Pte Ltd

UEN: 201419754M

The contents of this document are for information only and is taken or compiled from sources that we, Jachin Capital Pte Ltd, believe to be reliable. To the maximum extent permitted by law, we do not make any representation or warranty (express or implied) that this information is accurate, timely or complete and it should not be relied upon as such. Opinions expressed are our current opinions as at the date of this document only and are subject to change without notice. We endeavour to update on a reasonable basis the information discussed but regulatory, compliance or other reasons may prevent us from doing so. The publication and distribution of this document is not and does not imply any form of endorsement of any person, entity, service or product described or appearing here. This is not and does not constitute or form an offer to buy or sell nor the solicitation of an offer to buy or sell any security or financial instrument nor to participate in any particular trading or investment strategy. We are not soliciting any action based on this document. The information, services and products described or appearing here are intended only for Accredited Investors (as currently defined in the Securities and Futures Act) and are not intended for nor targeted at the public in any specific jurisdiction. This information does not take into account the particular investment objectives, financial situations or needs of individual investors. Investors should seek independent financial, tax or legal advice or make independent investigations as considered necessary or appropriate before making an investment decision. Investments involve risk. Any past performance, projection, forecast or simulation of results is not necessarily indicative of the future or likely performance of any investment instrument.

Essential SSL