Financial News
- James Hyerczyk
The latest ILO Unemployment Rate in the UK remained steady at 3.7% in January, which was lower than the expected 3.8%.
- Vladimir Zernov
Crypto markets rebound as U.S. administration protects depositors at troubled banks.
- James Hyerczyk
Regulators unveil plan to protect depositors at Silicon Valley Bank and Signature Bank, amid contagion fears. Markets respond positively.
- Bob Mason
The crypto market is in for a tough weekend, with USD Coin de-pegging as investors assess the impact of Main Street bank collapses on cryptos.
- Vladimir Zernov
Traders also focus on the problems in the financial sector. Trading in SVB Financial Group stock is halted.
- James Hyerczyk
There was some good news on the inflation side, as average hourly earnings rose 4.6% from a year ago, below the estimate for 4.8%.
- Bob Mason
It was a busy morning, with the UK GDP Report easing immediate fears of an economic recession. Later today, the US Jobs Report will also be key, however.
- Vladimir Zernov
Natural gas stocks decline but remain well above 5-year average, which is bearish for natural gas prices.
- James Hyerczyk
The Labor Department also said the less volatile four-week moving average of initial claims crept up to 197,000
- Vladimir Zernov
The U.S. Dollar Index gains ground while the S&P 500 tests new lows as traders worry about additional rate hikes from the Fed.
- James Hyerczyk
Private payrolls grew better than expected with companies adding jobs at a brisk pace in February, according to ADP.
- Bob Mason
The crypto market was back in the red this morning. However, Ripple v SEC, Voyager Digital, and Silvergate Bank news has been favorable.
- Bob Mason
German industrial production and retail sales figures raise question marks over the ECB’s more optimistic economic outlook. ECB President Lagarde up next.
- Vladimir Zernov
Stocks retreat, dollar rallies as traders prepare for a potential 50 bps hike at the next Fed meeting in March.
- Bob Mason
German factory orders increased by 1% in January. However, the consumer goods sector continued to struggle, with domestic demand falling.
- Eiko Sievert
The Windsor Framework agreed between the EU and UK is an opportunity for the UK to reduce uncertainty and unlock investment, which is crucial for the country’s growth prospects.
- Vladimir Zernov
S&P 500 tested session highs as demand for riskier assets increased after the release of Factory Orders report.
- James Hyerczyk
Euro Zone investor confidence slumped more than expected in March as expectations deteriorated sharply despite receding fears of a recession.
- Bob Mason
Euro area retail sales disappointed this morning. The numbers raise question marks over the ECB’s expectations on consumption and the economy.
- Bob Mason
It is another busy week ahead for the forex markets. Central bank policy decisions and Fed Chair Powell will give a monetary policy divergence refresh.