The recent lower-than-expected release of Chinese import and export data had a negative impact on the country’s economy, as both results dwindled, raising concerns about the Chinese economy. The Asian session was not fruitful for the Japanese stocks as well, starting with stocks such as Panasonic Corp., which dropped during the last session. In addition, the Asian session was also negative for the Japanese Nikkei which despite it being close to a record level of 20,000, dropped by 0.01%.

The dollar is still supported by the expectations of an earlier-than-expected increase of the interest rates, shaking off the latest drop caused by the Nonfarm Payrolls negative release at the beginning of the current month. The dollar also gained ground against multiple currencies, such as the euro and the yen. Indices such as the Dow Jones, S&P 500, and Nasdaq are at record levels, yet they are still prone to dropping should the effect of the recent expectations for the interest rate reach the stock market.

After the closure of the markets during Easter at the beginning of last week, the euro, in addition to the British pound, were both lower against the U.S. dollar this week. In addition, multiple releases were negative from the Eurozone, including the Services PMI which dropped to 54.2, the German Trade Balance which dropped to 19.7 billion, and the Retail Sales data which were released as expected. The bearish sentiment that was seen last week remains unchanged and still lingers during this week, as the European currencies remain weaker against the dollar.

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