Bank jitters continue to ease lifting sentiment & Asian markets despite Stocks from the United States Closing in the Red The USD One thing was easier 0.3% And Yields Gained with the 2-year regaining 4%. Alibaba surged 14.3% US trading was up 16.3% One point in Hong Kong, after the company announced that it would split into 6 separate entities. Other Chinese tech companies (Tencent & JD.com)) are stronger. The YEN continues it’s volatile week as year end looms, AUD is lower on weaker Inflation, European & US Futures are higher. US Consumer confidence was better than expected, the Fed’s Barr called SVB “not well managed” and that the $142 Eighty-one percent of 2022 deposits were withdrawn in the first week of March, with billions of dollars.
Overnight: AUD CPI missed (6.8% vs. 7.2% & 7.4%) and adds to prospects of RBA pausing rate hikes at next week’s meeting. German GfK Consumer Climate in-line (-29.5% vs -29.5% & -30.6%).
- FX – USDIndex Yesterday’s test result was 0.3% lower 102.00 Before a bounce 102.25. EUR Rallyed from 1.0800 To 1.0850 now. JPY Its volatile week was continued to 132.00 Now after lows of 130.40 Yesterday, STerling All rallied for 1.2300 To 1.2340 Holds at 1.2325 now.
- Stocks – US markets lower (-0.12% to +0.45%). Major mOvers in China tech…
