HSBC’s Willem Sels and Lucia Ku maintain a positive six‑month view on US equities and USD investment grade credit. They highlight the United States’ status as an energy exporter, robust projected earnings growth, and strong technology and AI‑related investment.
EUR/USD extends its advance for a second consecutive day on Wednesday, climbing to one-week highs as improving optimism around the US-Iran war lifts risk sentiment, pushing the Euro (EUR) higher and weighing on the US Dollar (USD).
The Institute for Supply Management’s (ISM) data showed the Manufacturing PMI edging higher to 52.7 in March, up from 52.4 in February and above analysts’ expectations of 52.5.
While speaking to Reuters at the Bank of England's (BoE) London headquarters on Reuters, BoE Governor Andrew Bailey argued that markets are getting ahead of themselves by pricing in interest-rate hikes.
Richmond Federal Reserve Bank President Tom Barkin told Reuters on Wednesday that he does not see inflation expectations at the risk of breaking out.
United States Retail Sales (YoY) increased to 3.7% in February from previous 3.2%
United States Retail Sales ex Autos (MoM) above forecasts (0.3%) in February: Actual (0.5%)
United States Retail Sales Control Group increased to 0.5% in February from previous 0.3%
United States Retail Sales (MoM) registered at 0.6% above expectations (0.5%) in February
ING economist Min Joo Kang notes that Japanese business sentiment remains relatively firm, with the Tankan Survey and Manufacturing PMI both in expansionary territory.
United States ADP Employment Change above expectations (40K) in March: Actual (62K)
Gold (XAU/USD) appreciates for the fourth consecutive day on Thursday. The US Dollar (USD) tumbles as hopes of a quick end to the Iran war have improved risk appetite and triggered significant pullbacks in US Treasury yields.
