![]() Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. The full economic calendar can be viewed here. According to a Bloomberg survey of economists, the bank is anticipated to maintain rates at 4.50% Looking ahead, after the US CPI print, the Bank of Canada will be making its decision on interest rates. ![]() Gold is also eyeing last week’s peak of USD 2,032 per ounce Silver made a 12-month high today above USD 25.40 a Troy ounce. The WTI futures contract is near USD 81.50 bbl while the Brent contract is a touch above USD 85.50 bbl. Interest rate markets are pricing a better-than-even chance of a lift to the target cash rate at the next Federal Open Market Committee (FOMC) meeting in early May. Nonetheless, US CPI will be watched closely later today for more definitive clues on the Fed’s rate path. He was joined by Philadelphia Federal Reserve Bank President Patrick Harker that could also be seen as less hawkish. New York Fed President John Williams saw scope for another hike to rein in inflation and Minneapolis Fed President Neel Kashkari maintained his hawkish credentials in comments overnight.Ĭonversely, Chicago Fed President Austan Goolsbee hinted toward a dovish stance citing the recent banking crisis and IMF’s latest report as a reason to be cautious with monetary policy. US Treasury Secretary Janet Yellen believes that the world’s largest economy is performing exceptionally well while a couple of Fed speakers appear to be at odds with each over potential further rate hikes from the bank. Tencent weighed on the index after it was revealed that the large tech investor, Prosus, was preparing to sell a slice of its investment that would be around 1% of the market cap. Most APAC equity indices saw slight gains on Wednesday although Hong Kong’s Hang Seng Index (HSI) slipped into the red. It leapt to a new high for the month above 134.00, Most currency pairs appear to be in somewhat of a holding pattern, except for USD/ JPY. ![]() The US Dollar dipped in the Asian session ahead of US CPI data due out later today. ![]()
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