KBC Market Research Desk
KBC Bank
European equity markets couldn’t hang on to positive risk sentiment this morning. After reaching new intraday record highs, some profit taking occurred amid an empty eco calendar. Losses are contained to ‐0.35% though. US stocks open modestly lower too. They trade up to ‐0.5% lower.
Dallas Fed Fisher said “it would be wise to move gradually and earlier rather than to wait to see the whites of the eyes of full employment and then have to raise rates steeply”. Markets ignored the comments as Fisher will leave office on March 19 and will not attend the next FOMC meeting (March 17‐18).
The world’s leading 98 internationally active banks have fully met new minimum capital requirements under the Basel III regulation, almost five years ahead of time, the Basel Committee said today, adding that European banks in particular have caught up.
Ukraine’s central bank raised its refinancing rate to 30% from 19.5%, the central bank announced today as part of the measures aimed at stabilizing the country’s financial system. Yesterday, the country passed several laws including amendments to the budget, a condition for a lending programme from the IMF, on which it is expected to decide nxt week. The hryvnia regained some ground today.
Canada's economy grew faster than expected in the fourth quarter, expanding at a 2.4% annualised pace, compared to 2% expected. Third quarter growth was upwardly revised from 2.8% annualised to 3.2%. On currency markets, the Canadian dollar profited somewhat with CAD/USD back above 0.80.
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 bulls retain control near 1.3300 mark, highest since March 2022
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EUR/USD grapples with higher ground as Fed cuts weigh on Greenback
EUR/USD found the high end on Thursday, holding fast to the 1.1150 level, though most of the pair’s bullish momentum comes from a broad-market selloff in the Greenback rather than any particular bullish fix in the Euro.
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Gold price is looking to build on the previous day’s rebound early Friday, consolidating weekly gains amid the overnight weakness in the US Dollar alongside the US Treasury bond yields. Traders now await the speeches from US Federal Reserve monetary policymakers for fresh hints on the central bank’s path forward on interest rates.
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Shiba Inu remains strong on Friday after breaking above a symmetrical triangle pattern on Thursday. This breakout signals bullish momentum, further bolstered by a rise in daily new transactions that suggests a potential rally in the coming days.
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.
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