ON EASTER MONDAY ASIA STEADY , BRENT BOILING ON USA STANCE

ECONOMY

On Monday, Asian indices were steady as investors awaited the return of major financial markets from the Good Friday holiday, while oil prices spiked on a report the U.S. is likely to ask all importers of Iranian oil to end their purchases or face sanctions.
Financial markets in Australia, Hong Kong and many major countries in Europe are closed on Monday for the Easter holiday. Currency trading continues globally but volume is expected to be light.
Equities markets were subdued, with MSCI’s broadest index of Asia-Pacific shares outside Japan trading little changed.
Equities will be looking at further corporate earnings for immediate incentives. While strong economic indicators, particularly from China, have helped sentiment, they have not formed a strong trend
The U.S.-China trade talks will have to end in one way or another for a trend to form.

The dollar drifted higher against the euro and British pound on Monday, supported by the relative strength of the U.S. economy, though moves remained small as many investors were still away for the long Easter weekend.
The dollar index against a basket of six major currencies was a shade lower at 97.38. The index was still within touching distance of a 1-1/2-month peak reached on Thursday after steady U.S. retail sales data.
The euro was little changed at $1.1240, having taken a hit late last week after purchasing managers’ index (PMI) releases showed weak manufacturing activity in Europe.
The Canadian dollar, on the other hand, added 0.1% to C$1.3381 thanks to a bounce in crude oil prices.

Brent crude rose 2.21% to $73.56 per barrel, highest since Nov. 8, 2018, underpinned by Brent futures rallied to a five-month high, after the Washington Post said U.S. Secretary of State Mike Pompeo will announce “that as of May 2, the State Department will no longer grant sanctions waivers to any country that is currently importing Iranian crude or condensate.”. U.S. crude futures climbed 0.84% to $64.54 per barrel.
Malaysian palm oil futures rose on Friday, scoring a third day of gains in four, tracking strength in U.S. soyoil on the Chicago Board of Trade.
U.S. soybean futures turned higher on Thursday after dropping to a five-month low on concerns about weak export demand and large harvests in South America.