- Bitcoin back under $40K
- Fitch on how Russia could default on bond payment due today, Wednesday 16 March 2022
- Gold - $1914 eyed as a key level
- Japan PM Kishida will hold a press conference at 10 GMT
- Bitcoin jumps back above $41.5K
- China COVID-19 cases today just above 3K vs. 5K yesterday - and restrictions being eased
- China new home prices in February 0% m/m (prior +0.1%) and +2% y/y (prior 2.3%)
- US President Biden to speak on Ukraine at 11.45am ET
- PBOC sets USD/ CNY mid-point today at 6.3800 (vs. estimate at 6.3802)
- Reports that North Korea fired a 'projectile' are unconfirmed
- Canada's PM Trudeau will be in Brussels next week for the NATO meeting
- Russia's war on Ukraine - Further missile attacks on cities coming in the hours ahead
- Its FOMC day - 3 major uncertainties
- Japan Trade Balance data February shows a miss on exports, imports higher than expected
- Ukraine Zelensky says positions of Russia and Ukraine sound realistic - more time needed
- Australia data - Westpac Leading Index for February -0.2% m/m (prior -0.3%)
- Japan - Reuters Tankan manufacturers sentiment higher for the first time in 3 months
- US President Biden to Announce $1 Billion in New Military Aid to Ukraine Wednesday
- UK PM Johnson to visit Saudi Arabia and UAE to ask for boost to oil production
- Goldman Sachs lower their forecasts for EUR/USD
- US VP Harris' hubby has tested positive for coronavirus
- More sanctions on Russia coming from Japan - "most-favored nation" trade status no longer
- NZ data - Q4 current account deficit larger than expected
- Goldman Sachs raised their 2022 forecasts for stock buybacks to a record $1 trillion
- Trade ideas thread - Wednesday 16 March 2022
- Private survey shows large build in headline crude inventory
- ECB's De Guindos says sees no risk of Eurozone recession
- US equities closing - Dow, Nas & S&P all up
The lead-in to the Asia session:
It was a session light on for news and data ahead of today’s Federal Reserve Federal Open Market Committee announcement. The FOMC is, basically unanimously, expected to kick off the rate hiking cycle with 25bp and info on how the Bank intends to unwind their holdings of Treasuries etc. There will be much more in the statement and Fed Chair Powell’s presser, see bullets above for more detail.
- The FOMC statement is due at 1800 GMT with Powell following at 1830 GMT.
On the day here the price of oil moved up a little after its multi-day downdraft. Regional equities took encouragement from the Wall Street moves on Tuesday. The Nikkei and Shanghai Comp are little changed but Hong Kong’s Hang Seng gained circa 2%
Across FX there were gains against the dollar for EUR, AUD, NZD, GBP to varying extents. Ranges have not been large though, and neither are the net changes on the session.
BTC/USD had a wild session, jumping above $41.65K and then giving it all back, and some. Its left the market struggling for an explanation.
