Market movers today

  • Focus will remain on the tense geopolitical situation in Ukraine.

  • In the euro-zone the German IFO numbers are due for release. We expect a slight improvement and it will be interesting to see whether the situation in Ukraine has had any impact on German business sentiment.

  • In the US focus will be on the durable goods orders data for March.


Selected market news

  • All major US stock market indices ended up in yesterday’s session on the back of positive reports on the US economy in the Federal Reserve’s so-called Beige Book and fairly dovish comments from Fed chair Janet Yellen. The USD has weakened overnight on the back of Yellen’s dovish comments.

  • Oil prices have dropped back from a six-week high overnight on the back of a report from the US Energy Information Administration that US oil inventories grew much faster than earlier forecasted. Other commodity prices, on the other hand, have generally been rising on the back of hopes of Chinese economic stimulus.

  • Emerging Market stocks have also benefitted from Yellen’s dovish comments and the hopes of more Chinese economic stimulus, which at least for a day have been overshadowing the continued bad news out of (eastern) Ukraine.

  • This morning Asian stock markets are mostly trading moderately higher.

  • Chinese interest rate swaps this morning have fallen the most since June after reserve-requirement ratios were cut for some rural banks.


Scandi markets today

  • There is no specific Scandi news today. The Danish and Norwegian markets are closed due to the Easter holidays.

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