– US indices finished yesterday’s trading lower, reversing much of the gains from the day earlier. S&P 500 dropped 1.26%, Dow Jones moved 0.80% lower and Nasdaq slumped 2.26%. Russell 2000 dropped 2.36%
– Stocks in the Asia-Pacific region also traded lower with Nikkei dropping 1.4%, Kospi moving 0.8% lower and S&P/ASX 200 declined 0.5%. Indices from China moved lower during the first session after a long weekend
– DAX futures point to a lower opening of the European cash session today
– Shanghai authorities said that lockdown in the city will last until everyone is Covid tested
– According to Wall Street Journal, United States is readying sanctions on Sberbank, Russia’s largest bank, and Alfa Bank, Russia’s largest private bank
– Asian Development Bank lower China’s GDP growth forecast to 5.3 to 5.0% for 2022
– Deutsche Bank no longer expects the Fed to deliver soft landing when it tightens policy with a mild US recession following. Deutsche Bank expects US GDP to shrink in Q4 2023 and Q1 2024
– Wunsch from ECB said that inflation target has been essentially met and that he expects deposit rate to be hiked to zero by the end of this year
– Chinese Caixin services PMI dropped from 50.2 to 42.0 in March (exp. 49.9)
– API report on US oil inventories pointed to a 1.08 million barrel build (exp. -1.5 mb)
– Cryptocurrencies are pulling back. Bitcoin drops 1.2%, to $45,300, while Ethereum trades 2.4% lower near $3,360
– Oil trades higher. WTI jumps 1% to $102.40 while Brent trades 1.3% higher near $107.30
– Precious metals trade mostly flat. Gold, silver and platinum experience minor moves while Palladium gains 1.4%
– AUD and NZD are the best performing major currencies while JPY and CHF lag the most
Recovery move on PALLADIUM faded after price broke above the 2,225 price zone. The 2,300 area turned out to be too tough for bulls to break and price pulled back to the aforementioned 2,225 price zone.
For more informations and news join our official social networks! Please click on the icons below to subscribe.