KBC Market Research Desk
KBC Bank
European shares opened little changed this morning, but edged higher in the afternoon following stronger US earnings results. For now, US Equities failed to profit from strong earnings and economic data, trading slightly lower.
While foreign ministers from Russia, Ukraine, the US and EU were meeting in Geneva in an attempt to ease tensions, Russian President Putin reiterated today his readiness to deploy troops in eastern Ukraine if diplomatic efforts fail to resolve the crisis.
The US Philadelphia Fed manufacturing index rose more than forecast in April, rising from 9 to 16.6, spurred by a strong rebound in shipments and new orders, while also number of employees gathered pace.
Banks will return €7.536 billion in crisis loans to the ECB next week, again more than market expectations, but slightly less than this week’s repayment of €8.265 billion. Four banks will repay €5.782B from the first LTRO and five banks will return €1.754B from the second.
US Markets close early today. Tomorrow, most European markets are closed in observance of Good Friday and also US Bond & Equity markets remain closed. On Monday, most European markets are closed in observance of Easter Monday..
This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.
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GBP/USD retreats to 1.2500 on renewed USD strength
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