This site uses cookies to provide you with a great user experience. By visiting monetamarkets.com, you accept our cookie policy.
Allow all
This website is operated by Moneta Markets Ltd, which is not authorised or regulated by the UK Financial Conduct Authority (FCA) and does not offer or promote services to UK residents. Access to this website is restricted in the UK and the content is not intended for distribution to, or use by, any person located in the UK. If you believe you have reached this website in error, please exit the page now
Please note that Moneta Markets operates this website and its services are not directed at residents of your jurisdiction.
The information on this site is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
If you have arrived here in error, we kindly advise you to exit the site.
Continue to Site
English
Body text style
Asian equity market performance is mixed today but in most cases the moves are relatively small. The oil price has continued to climb after OPEC’s announcement of a cut in production. However, so far the bounce has only taken prices back to their level of early March. As expected, the Australian central bank left interest rates unchanged at today’s policy update in the first ‘no hike’ announcement since last April. The RBA said that it would assess the impact of previous hikes but warned that more tightening “may well be needed”.
Today’s European Central Bank’s consumer expectations survey will provide an update on how inflation trends are perceived. The last survey showed a decline in both 12 month and longer-term expectations and given the recent weakening in energy prices expectations may have fallen further this time. The ECB is likely to see that as evidence that their interest rate hikes are proving effective. Nevertheless, they will still be mindful that the March CPI data for the region showed a further rise in core inflation despite the decline in headline inflation. So, it remains unlikely that interest rates have peaked.
US factory orders are forecast to have fallen by 0.3% in February. Already released data for durable goods orders, which is about 40% of the total, showed a decline of 1.0% due to another fall in the volatile transport sector. However, non-durable orders are likely to have risen for the second month in a row. The US manufacturing sector, more broadly, continues to underperform other areas of the economy.
There is no data of note in the UK today. However, a couple of Bank of England policymakers are due to speak. One of these is Silvana Tenreyro, who voted against each of the last three interest rate hikes, and so seems likely to point to downside risks for growth and inflation. The other is the BoE’s Chief Economist Pill who has always voted with the majority. Any comments they make on recent developments in the banking sector are likely to command particular attention. Two US Federal Reserve policymakers are also scheduled to speak.
Early Wednesday, the New Zealand central bank will give its latest monetary policy update. Unlike its Australian equivalent it is expected to raise interest rates again (by 25 basis points). Markets are also expecting another 25bp hike at the next update so the RBNZ’s forward guidance will also be interesting. Meanwhile, in Australia RBA Governor Lowe will follow up on today’s policy announcement with some comments on why they stood pat.
US Treasury and UK gilt yields fell on Friday after the lower-than-expected US inflation news. However, US yields have rebounded this morning following the OPEC announcement. In currency markets, sterling, after moving up slightly against the euro on Friday is again higher this morning, but it has slipped against a generally firmer US dollar.
table.tableizer-table { font-size: 12px; border: 1px solid #CCC; font-family: Arial, Helvetica, sans-serif; } .tableizer-table td { padding: 4px; margin: 3px; border: 1px solid #CCC; } .tableizer-table th { background-color: #104E8B; color: #FFF; font-weight: bold; } GMT+3 5 April 2023 6 …
Open a live account and start trading today!
MktoForms2.loadForm(“//marketing.vantagefx.com”, “079-WFQ-812”, 1283);
The Canadian dollar is trading near 1.2850, gaining nearly 80-pip in today’s session. A weaker dollar and risk-on mood infused capital flow into the riskier asset. A lukewarm economic data and a rise in commodity prices lifted Loonie. The 10-year …
It has been a tale of two-week for the Swiss franc. USD/CHF fell about 200-pip since July 14 and looks further weakness. The currency appreciated to nearly 0.9600 against the US dollar. Global recessionary fears and a less hawkish Fed …
Dear Trader, Please be advised of the upcoming MICHELIN. (ML) stock split that is going to take place as per the following schedule: Ex-Date: June 16th, 2022. Common shares will trade at the new split-adjusted price. What is a stock …
Please be advised of the following changes to trading hours which will take effect on the 28th March, 2022. SymbolTrading time(GMT+3)Cocoa11:45-20:30Coffee11:15-20:30Sugar10:30-20:00GASOILMon: 01:00-24:00Tue-Fri: 03:00-24:00DAX40Mon – Thur: 03:15-24:00Fri: 03:15-23:00DAX40ftMon – Thur: 03:15-24:00Fri: 03:15-23:00ES359:00-21:00FRA409:00-23:00EU Shares10:00-18:30UK Shares10:00-18:30
Open a live account and start trading in just minutes.
Fund your account using a wide range of funding methods.
Access 1000+ instruments across all asset classes
