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27/03/2023

Today’s Announcements & News

Asia

As investors continue to evaluate the impact of the banking crises in the United States and Europe, Asia-Pacific markets are expected to trade with mixed sentiment on Monday.

After the German lender’s credit default swaps increased without any apparent catalyst on Friday, the German lender saw a selloff in the shares of its U.S.-listed subsidiary.

The S&P/ASX 200 in Australia increased by 0.31 percent, while Nikkei 225 futures indicate a negative opening in Japanese markets.

In contrast to the Nikkei 225’s most recent close of 27,385.25, Chicago’s Nikkei futures contract was at 27,270 and Osaka’s Nikkei futures contract was at 27,130.

Hang Seng futures are currently trading at 19,864, down from 19,915.68 earlier in the day.

United States

As Wall Street finished a successful week and investors continued to follow the troubled bank sector, stock futures edged higher Sunday evening.

The Dow Jones Industrial Average futures gained 0.4%, or 132 points. Nasdaq-100 futures advanced 0.4%, while S&P 500 futures gained 0.5 percent.

The moves come after Wall Street finished a successful week despite volatility caused by the ongoing bank crisis and the latest interest rate hike by the Federal Reserve. With a gain of 1.7 percent, the major indexes were led by the Nasdaq Composite. The S&P 500 gained 1.4% at the end of the week, while the Dow gained 1.2%.

The national bank declared a quarter rate point loan fee climb — which was generally in accordance with Money Road assumptions — while implying that a finish to financing cost increments could be not too far off.

Commodity

Gold prices ended a volatile week on a higher note on Friday as bets on a pause in Federal Reserve rate hikes and fears of bank contagion boosted safe-haven demand.

The price of an ounce of U.S. gold futures fell 0.6 percent to $1,983.80. Prospects likewise acquired 0.5% for the week, having move to its most significant level in a year above $2,000 on Monday.

On Friday, banking shares were shattered once more due to concerns that regulators and central banks have yet to contain the sector’s worst shock since the 2008 financial crisis, which saw the collapse of European giants UBS and Deutsche Bank.

RJO Futures senior market strategist Bob Haberkorn stated, “Any concern that pops up about U.S. banks being undercapitalized is going to be a factor for gold to rise.” In this environment, the dips you see will be bought up quickly.


The above analysis is only for the views of market researchers and is for reference only and is not regarded as a specific investment suggestion.

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