KBC Market Research Desk
KBC Bank
European shares opened lower this morning following significant losses on Wall Street after the FOMC meeting, but reversed their losses to trade mixed currently. US Equities are near opening levels as well. US pending home sales were slightly weaker than expected but didn’t harm sentiment.
The EU will not extend its economic sanctions against Russia immediately, despite the dramatic escalation of fighting in eastern Ukraine, the FT reports on its website, saying political divisions in the EU are preventing a hardhitting response from the EU.
In the week ending the 24th of January, US initial jobless claims dropped from 308 000 to 265 000, the lowest level in nearly 15 years. While the Labour Department said there were no special factors, the drop might have been due to the Martin Luther King’s Day Holiday, which might have distorted the figures.
The Aussie dollar dropped to its lowest level in 5 years against the US dollar today as investors increase bets for a rate cut by the Reserve Bank of Australia next week, after the Reserve Bank of New Zealand skipped its tightening bias overnight.
The Danish central bank cut rates for a third time this year in order to defend the “unnegotiable” EUR/DKK peg. The deposit rate was cut from ‐0.35% to ‐0.50%. The lending rate remains at 0.05%.
Spanish retail sales jumped 6.5% Y/Y in December, the biggest rise since 2003, indicating that Spanish consumers boosted their spending, supported by an improving economic outlook and falling oil prices.
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.
Recommended Content
Editors’ Picks
USD/JPY off lows, stays pressured near 142.50 ahead of BoJ policy decision
USD/JPY has bounced off lows but remains pressured near 142.50 in the Asian session on Friday. Markets turn risk-averse and flock to the safety in the Japanese Yen while the Fed-BoJ policy divergence and hot Japan's CPI data also support the Yen ahead of the BoJ policy verdict.
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood
AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed.
Gold price treads water below record peak, awaits Fedspeak
Gold price hovers below the all-time peak touched earlier this week amid a bearish US Dollar and rising bets for more upcoming rate cuts by the Fed. Concerns over an economic downturn in China keep the safe-haven Gold price afloat. Fedspeak remains on tap.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
XRP eyes gains as Ripple gears up for stablecoin launch, Grayscale XRP Trust notes rising NAV
Ripple (XRP) gained 2.3% since the start of the week. The altcoin’s gains are likely powered by key market movers that include Ripple USD (RUSD) stablecoin, Grayscale XRP Trust performance and the demand for the altcoin among institutional investors.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.