Weekly Game Plan 15 Apr 19

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Here is this week's Game Plan:

With no news over the weekend, markets will likely pick up from where they left off last week. The main theme on Friday was easing global growth fears after better China data and better earnings from JP Morgan. Remember that it is also a holiday-shortened week with most traders away on Good Friday and Easter Monday.

Themes for the Week:

Risk-On: markets are welcoming positive signs that the China economy has bottomed and is growing again. China activity is the single biggest factor in the pricing of commodities and  Emerging Market sentiment. China data will be watched closely this week. Beyond China, the other major factor to watch is US earnings. Expectations are low, and JPM already beat expectations, with a decent risk-rally ensuing.

Brexit fatigue: the ongoing Brexit/UK political fiasco will be of more interest to political scientists than the market. Most contacts have simply lost interest. We have a bundle of UK data this week which may be more influential now that Brexit is delayed.
Data in the Week Ahead:

• BOC Business Outlook Survey
• RBA Minutes
• UK Employment
• NZD CPI
• CHN GDP
• UK CPI
• CAD CPI
• OPEC MEETING
• AU Employment
• UK Retail Sales
• US Retail Sales

On the Radar:

The only things on my radar going into the week are Equities (Long) and AudJpy/NzdJpy (long). They are the clearest opportunities for now, given current sentiment.