-
Thursday's session was favorable for Wall Street investors. U.S. indices gained over 1.00% and are approaching historical highs again.
-
The US100 is trading over 1.70% higher around 18350 points, and the US500 gains 1.10% to 5170 points.
-
ECB interest rates remained unchanged, as expected by investors. The deposit rate remains at 4%.
-
The latest ECB forecasts indicate lower inflation in 2024 and 2025:
- Inflation at 2.3% in 2024, 2.0% in 2025, and 1.9% in 2026.
- Core inflation at 2.6% in 2024, 2.1% in 2025, and 2.0% in 2026.
- GDP growth revision for 2024 to 0.6%, with 1.5% growth in 2025 and 1.6% in 2026.
-
Following the ECB conference, market expectations increased for interest rate cuts to 100 basis points in 2024.
-
Jobless Claims show a still strong labor market, but labor costs indicate less wage pressure. Productivity remains high. A very large trade deficit for January:
- Initial jobless claims: 217,000 (forecast 216,000; previously 215,000).
- Labor costs: 0.4% (expected: 0.7%; previously: 0.5%) - final reading for Q4.
-
The USDJPY pair drops to the 148.00 area - the lowest level in a month.
-
The decline in gas inventories roughly meets expectations at -40 bcf, with a forecast of -37 bcf. Previously it was 96 bcf. Weather in the USA remains very favorable, and in the early days of March, gas consumption was lower than supply.
-
Cryptocurrencies record another good day, with Bitcoin again testing resistance around $68,000 USD.
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
