- The final trading day of the week has been rather uneventful. As the majority of the markets was already closed for Easter holidays, liquidity conditions were very thin
- Indices from Asia-Pacific traded higher today - Nikkei gained 0.5%, Kospi traded flat and Nifty 50 jumped 0.9%. Indices from China traded 0.4-1.0% higher
- Trading ranges on the major FX pairs were narrow today. AUD and NZD are the best performing G10 currencies at press time, while CHF and CAD lag the most
- Major cryptocurrencies trade slightly lower today - Bitcoin drops 1.3%, Ethereum declines 0.9% and Dogecoin trades 1.5% lower
- Fed Chair Powell said that today's PCE reading for February was in-line with expectations, but Fed wants to be more confident before cutting rates as cutting too soon would be very disruptive
- US PCE inflation accelerated from 2.4 to 2.5% YoY in February (exp. 2.4% YoY), while core PCE stayed unchanged at 2.8% YoY (exp. 2.8% YoY)
- French CPI inflation slowed from 3.0 to 2.3% YoY in March (exp. 2.6% YoY)
- Italian CPI inflation accelerated from 0.8 to 1.3% YoY in March (exp. 1.4% YoY)
- Core CPI inflation in Japanese Tokyo area slowed from 2.5 to 2.4% YoY in March (exp. 2.4% YoY)
- Japanese retail sales were 4.6% YoY higher in February (exp. 2.8% YoY), while industrial production declined 3.4% YoY (exp. -2.7% YoY)
- Japanese unemployment rate jumped from 2.4 to 2.6% in February (exp. 2.4%)
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Morning wrap (23.01.2026)
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