Stock markets in Japan and China were closed for holidays Elsewhere, markets were still reeling from the slump on Wall Street and new tensions in US regional banks. Asian stocks fell while US futures were flat on Wednesday as markets await the Federal Reserve’s announcement. Continued concern about the health of the financial system should add to the arguments of the dovish camps in central banks, but short-term policy-sensitive bonds underperformed this morning. Treasury bonds have a strong bid on concerns about the regional banking sector. Sentiment is mixed by recent data indicating economic slowdown, including Fewer job opportunities In nearly two years.
FOMC Preview: Federal Open Market Committee He started his two-day meeting and will announce his policy decision on Wednesday at 18:00 GMT. It is expected to increase by 25 basis points. With no new SEP forecast to guide the outlook, the focus will be on Chairman Powell’s policy statement and press conference. We do not expect any explicit forward guidance as the Fed will want to preserve discretion and leave all doors open. However, we look for it to continue to resist rate cut expectations. Implied Fed funds futures fell, along with lower Treasury yields, amid growing concerns about regional banks, and after weaker-than-expected data.
- FX – USD has been corrected for 101.30 while the yen Pick up safe haven offers. the EURUSD He is also up again 1,103 mark before feed it Announcement today and European Central Bank Tomorrow meet.
- Stores – Hang Seng and ASX lost -1.7% And -0.96% Respectively, though, European and US futures rose. the 500 USD Lost -1.16% while the United States 30 And US 100 dropped –1.08%. Tensions rose even after JPMorgan’s purchase of the beleaguered First Republic bank provided some stability on Monday. But this did not hold backquest And western alliance She was in the spotlight, falling down -42% And -27%, Respectively, the concern of investors. This saw the KBW Bank Index drop -4.4%. Almost every sector of the S&P was in the red.
- Goods – USOil decreased by -5% to $71.50 Markets have priced in expectations of rate hikes in the US and Europe and are waiting for clarity on the path of future policy.
- gold – rose to 2018 dollars.
The largest forex engine @ (06:30 GMT) Lyocel oil (-5%) to 71.29 from 76 regions. The moving averages are flattened but the MACD histogram and the signal line are well below zeroStochastic is slipping. ATR (H1) at 0.20 & ATR (D) at 2.26.
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Andrea Pechedy
Market analyst
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