Daily Market Commentary 19th March 2024
US and European markets opened the week on a positive note, following some positive economic data out of China and looking ahead to key Central
US and European markets opened the week on a positive note, following some positive economic data out of China and looking ahead to key Central
Markets closed out the week gone by down, with equities retreating from record highs, due to the spike up in US inflation. US CPI and
The US PPI number (measure of wholesale inflation) was not only a reversal in the steep downward trend in PPI inflation, but a substantial spike
A dearth of tier-one economic data led markets to trade sideways, with equities settling near record highs, while Bonds and the US Dollar tread water.
The US inflation rate was broadly in line with expectations, rising to 3.2%, for the year end February 2024. Markets completely ignored the directional change
A subdued start to the trading week, with little on the economic data front, as markets look ahead to the release of inflation data from
US Non-Farm Payrolls beat expectations, which would normally be inflationary, but this was offset by a large revision lower of the previous month’s numbers. The
The ECB left rates unchanged, as expected, but left the door open for rate cuts in Q2. This was enough to spark a rally on
Fed Chairman Powell appeared before Congress overnight and talked interest rate cuts, but not now. The Federal Reserve Chairman confirmed interest rates had peaked and
US Equity markets tumbled over night, but these are falls are off from record highs, while Bond yields drift lower, and currencies remain stable. The
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