- Tuesday's trading session on the Old Continent brought sizable gains in almost all indices. German DAX gained 1.45%, French CAC40 added 0.99%, and the British FTSE100 rose 1.22%. The only index to post losses was Polish WIG20 (-0.41%).
- The US500 and US100 are trading currently with moderate gains of 0.35%.
- Disney shares lost nearly 10% during Tuesday's session following the release of a lower-than-expected number of Disney+ subscribers.
- Arista Networks will present its results after the close of the Wall Street session.
- Apple unveiled new products, including a new iPad to be powered by the M4 processor, which is designed for artificial intelligence operations. The company's shares gained more than 0.4% today.
- In Europe, sizable gains were recorded in the shares of Swiss bank UBS, which reported much higher-than-expected quarterly results.
- Cocoa is credited with one of the biggest daily gains ever at 13%. This is not triggered by any specific information. We have very low liquidity in the market, which favors a recovery in volatility.
- Canada's Ivey PMI index rebounds to 63, motivated by, among other things, a rebound in the price sub-index. Rising inflationary pressures in Canada may delay the timing of the first cut, which is priced for June or July.
- Factory orders from Germany came in below expectations. The decline for March is -0.4% m/m and -10.6% y/y, showing that the country's economic situation is not improving at all, even despite a minimal rebound in the PMI indices.
- RBA keeps rates unchanged, which was in line with expectations. The RBA indicates that more time is needed to bring inflation back to target, but at the same time, according to the current RBA president, interest rates are high enough.
- The JPY lost ground today in the face of the currency official's indication that interventions are not needed. The BoJ chief is also scheduled to meet with the government in the near future.
- The Fed's Neel Kashkari commented that the Federal Reserve needs to remain patient when deciding on interest rate cuts. According to the banker, Friday's NFP data proved weaker than expectations, but not enough to change the Fed's stance.
- Kashkari indicated that the FED is ready to keep interest rates unchanged for an extended period of time, or even raise them if the need arises
- Most precious metals came under selling pressure. On the other hand, platinum gained more than 2%. Copper gained 1% today.
- The dollar gained today against the euro or the pound. The EURUSD pair fell sharply below the 1.0770 level, while GBPUSD is heading towards 1.2500
- The market sentiment in cryptocurrencies is mixed. Bitcoin is currently losing nearly 0.4%, while Ethereum is down nearly 0.8%.
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