• Following the late‐session sell‐off in the US yesterday, European shares dropped sharply lower too, losing up to 2%, despite stronger eco data. US Equities opened lower too, although losses are minimal.

  • The market may well be underestimating how soon the Fed might raise rates, Fed’s Kaplan said, adding that if Q2 data are good, he will advocate a rate rise perhaps in June or July.

  • Rating agency DBRS will review today Portugal’s BBB rating. DBRS is the only rating agency rating Portugal at investment grade and hence makes their paper eligible for the European Central Bank's public sector purchasing programme.

  • The euro area unemployment rate dropped from an upwardly revised 10.4% to 10.2% March, beating the market consensus which was looking for an unemployment rate of 10.3%. The unemployment rate is now again at its lowest level since August 2011.

  • Crude oil prices extend their uptrend today, rising for a fourth consecutive session, boosted by the weaker US dollar. Gold prices ($1285/ounce) extend their uptrend too, trading currently around its highest level since February 2015.


 

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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