This can be a completion of expanded corrective structure

AUDJPY will steer a bullish gear from high degree order block

A minor pullback can be expected before a higher swing

Buying gold at the H4 support level

United Kingdom PPI Core Output YoY

United Kingdom PPI Core Output MoM

United Kingdom Core Inflation Rate MoM

United Kingdom PPI Output MoM

Gold held around $1,940 an ounce in subdued trade on Wednesday as investors cautiously awaited the US Federal Reserve’s interest rate decision, where it is expected to balance the fight against inflation with ensuring the stability of the financial system. The metal lost more than 2% over the past two sessions, retreating sharply from one-year highs as easing concerns about a wider banking crisis dampened demand for safer assets. Treasury Secretary Janet Yellen said the US government would be prepared to take further actions to protect depositors should bank runs resurface. The Fed is also widely expected to extend its tightening campaign on Wednesday’s policy decision, with money markets firmly pricing another 25 basis point rate increase. Elsewhere, markets await UK inflation data on Wednesday ahead of the Bank of England’s policy decision on Thursday.

Gold Muted Ahead of Key Fed Decision

The Hang Seng jumped 389 points or 2% to 19,647 in early deals on Wednesday, rising for the second day to near 2-week highs, buoyed by an upbeat session on Wall Street overnight as concerns over a deepening banking crisis eased further after US Treasury Secretary Yellen said the government could backstop deposits at other US lenders as it did with Silicon Valley Bank. Meantime, traders reportedly placed greater bets that the Fed will raise interest rates 25bps after pricing in markets was split between a hike and a pause earlier this week.

Hong Kong Stocks Extend Rally

The Shanghai Composite rose 0.5% to around 3,272 while the Shenzhen Component gained 0.7% to 11,500 on Wednesday, rising for the second straight session and taking cues from a positive lead on Wall Street, amid hopes that the worst of the banking turmoil is over and expectations that the Federal Reserve will tighten policy less aggressively. The People's Bank of China has also recently announced a surprise cut to lenders' reserve requirement ratio for the first time this year to aid the economic recovery. Moreover, the central bank held its key lending rates steady at its March fixing, keeping the one-year loan prime rate at 3.65% and that of the five-year at 4.3%. New energy, technology and healthcare stocks led the advance, with strong gains from Contemporary Amperex (2.6%), Inspur Electronic (2.4%) and Wuxi Apptec (2.2%), among others.

China Stocks Climb for Second Session

Lebanon’s annual inflation rate surged to an eight-month high of 189.67 percent in February 2023 from 123.53 in the previous month, due to a sharp devaluation of the Lebanese pound. Lebanon’s Central Bank devalued the country’s currency by 90% on February 1st, 2023, a key demand of the International Monetary Fund for a bailout package for Lebanon.  Prices increased faster mainly for housing & utilities (77.93 percent vs 56.28 percent in January), transport (196.76 percent vs 135.21 percent), furnishings, household equipment & routine maintenance (266.06 percent vs 110.39 percent), and health (315.46 percent vs 175.95 percent). Meanwhile food & non-alcoholic beverages climbed to an eight-month high of 260.54 percent in February from January’s 33-month low of 138.47 percent. On a monthly basis, consumer prices jumped 25.52 percent in February, the most on record at least since 2013, accelerating sharply from a 8.43 percent rise in January.

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

This can be a completion of expanded corrective structure

AUDJPY will steer a bullish gear from high degree order block

A minor pullback can be expected before a higher swing

Buying gold at the H4 support level

Latest News

Gold Muted Ahead of Key Fed Decision

Hong Kong Stocks Extend Rally

China Stocks Climb for Second Session

Lebanon Inflation Rate at 8-Month High

Upcoming Events

United Kingdom PPI Core Output YoY

United Kingdom PPI Core Output MoM

United Kingdom Core Inflation Rate MoM

United Kingdom PPI Output MoM

Trending Symbols And Events

Most latest news, events and ideas for smart decisions

Latest Ideas

This can be a completion of expanded corrective structure

AUDJPY will steer a bullish gear from high degree order block

A minor pullback can be expected before a higher swing

Buying gold at the H4 support level

Latest News

Gold Muted Ahead of Key Fed Decision

Hong Kong Stocks Extend Rally

China Stocks Climb for Second Session

Lebanon Inflation Rate at 8-Month High

Upcoming Events

United Kingdom PPI Core Output YoY

United Kingdom PPI Core Output MoM

United Kingdom Core Inflation Rate MoM

United Kingdom PPI Output MoM