Morning wrap - (17.04.2024)

8:46 am 17 April 2024

  • Asia-Pacific indexes mostly lost ground after a down session on Wall Street yesterday. Yields on two-year U.S. Treasury bonds rose to 5%, following comments from Fed Chairman Powell, who conveyed that recent data showed that the progress of lowering inflation in the U.S. has faded
  • The U.S. dollar is on a record 5-day streak since 2022, with 10-year bond yields trading at record levels in 2024, rising 6 basis points to 4.66% yesterday
  • China's Hang Seng and Japan's Nikkei retreated about 0.4%, and South Korea's KOSPI traded marginally lower. Australia's ASX 2000 gained 0.11%.
  • Exports, excluding oil, from the Singapore region fell far more sharply than forecasts and pointed to a -8.4% annual gain versus a 4.4% increase forecast and 4% previously
  • European index futures traded slightly higher ahead of the start of the cash session on the Old Continent; the DE40 gained 0.1% and the UK100 almost 0.2%
  • Dollar index contracts are gaining 0.03% today, with EURUSD trading at 1.061. Silver contracts are gaining more than 0.8%, although gold is down 0.2%
  • Brent crude settles at $89.5 per barrel; contracts lose 0.5% today. NATGAS gains less than 0.4%
  • Bitcoin has recovered some of its losses, and with 3 days to go before halving, its price is oscillating around $64,000, although the overall sentiment of the cryptocurrency market is weak; despite the prospect of launching spot ETFs in Hong Kong
  • Traders of US rate futures reduce expectations for the Fed to cut rates more than once this year.
  • Fed Barkin said that the CPI data has not “been supportive" of a soft landing, and it's smart for the Fed to take its time on the decision to cut rates.
  • Yesterday, Powell was hawkish, saying that 'if higher inflation persists, the Fed can maintain the current rate as long as needed' and 'recent data show lack of further progress on inflation'.
  • The Israeli military is said to have finalized its strategy for the response to the weekend attack by Iranian forces, people familiar with the matter told The Jerusalem Post on Tuesday.
  • The specific time of the military operation against Iran and its proxies remains undecided, but according to Israeli media IDF have agreed on the nature of the response
  • Today the most anticipated earnings reports on Wall Street are from the biggest US regional bank holding, US Bancorp, Citizens, Travelers and Abbot Laboratories but market especially await for tomorrow TSMC report

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.

Xtb logo

Join over 1 000 000 XTB Group Clients from around the world.

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
__hssc cc 8 September 2022
SESSID cc 2 March 2024
__cf_bm cc 8 September 2022
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
__hstc cc 7 March 2023

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
hubspotutk cc 7 March 2023

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence