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| Macro Roundup (Apr 27) |
| 2023-4-27 |
This is a roundup of global macroeconomic news last night and what is expected today.
The U.S. dollar retreated on Wednesday on further signs of a U.S. economic slowdown after orders for core capital goods slipped more than expected in March as concerns festered about a looming vote in Congress over the unresolved debt ceiling.
Sterling was last trading at $1.2466, up 0.47% on the day, while the dollar was down 0.3% against the yen at 133.67.
The Swedish crown weakened sharply after the country¡¯s central bank was less hawkish than expected, while the euro rebounded 0.6% from losses on Tuesday when jitters over U.S. regional banks buoyed the safe-haven dollar.
The Fed is expected to hike rates by 25 basis points when policymakers conclude a two-day meeting on May 3, and then will likely pause its rate hike campaign.
But the market expects further rate hikes from the European Central Bank, a difference with the Fed that is driving currency moves.
U.S. stock futures ticked higher on Wednesday night.
Nasdaq 100 futures gained 0.5%, while S&P 500 futures added 0.2%. Futures linked to the Dow Jones Industrial Average advanced by 27 points, or 0.08%.
Meta shares leapt in after-hours trading as the company reported quarterly revenue that beat analysts¡¯ expectations. The company issued stronger-than expected guidance for the current period.
During regular trading Wednesday, the Dow shed 228.96 points, or 0.68%. The S&P 500 slid 0.38%, while the tech-heavy Nasdaq Composite rose 0.47%.
In Wednesday¡¯s session, Microsoft shares jumped more than 7%, buoyed by an earnings beat posted late Tuesday. Meanwhile, First Republic shares tumbled almost 30%, as investors became concerned over the regional bank¡¯s health.
Oil prices dropped by almost 4% on Wednesday, extending the previous session¡¯s sharp losses, even after a report showed U.S. crude inventories fell more than expected, as recession fears grew for the world¡¯s biggest economy.
Brent crude settled at $77.69 a barrel, losing $3.08, or 3.8%. U.S. West Texas Intermediate crude settled at $74.30 a barrel, shedding $2.77, or 3.6%.
Gold eased back on Wednesday as yields recovered with the focus returning to upcoming economic data, after briefly breaking above $2,000 spurred by fresh worries surrounding the U.S. banking turmoil.
U.S. gold futures slipped 0.42% to settle at $1,996.0, ending a two-day win streak .
European stock markets closed lower on Wednesday as concerns resurfaced over the health of the global banking sector.
The pan-European Stoxx 600 index closed 0.8% lower, with healthcare stocks down 2.5%, industrials down 1.4% and household goods down 1.2%. |
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2024-12-19
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Item |
SHFE |
Change |
Cu |
84557 |
-13199 |
Al |
214501 |
-9875 |
Zn |
50666 |
-2317 |
Item |
LME |
Change |
Cu |
272325 |
+0 |
Al |
665025 |
-2500 |
Zn |
257525 |
-2875 |
Ni |
161238 |
+318 |
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2023-5-15 |
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1 USD= |
6.7021 |
Inverse: |
0.14921 |
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1 EUR= |
7.8800 |
Inverse: |
0.12690 |
|
1 GBP= |
8.6373 |
Inverse: |
0.11578 |
|
1 AUD= |
5.2589 |
Inverse: |
0.19015 |
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