📆 Tuesday, March 19
► The JPY weakened after the Bank of Japan ended negative interest rates but pledged to stay accommodative for longer, despite scrapping its yield curve control program. This historic move by the BOJ to increase interest rates for the first time in 17 years had been anticipated, with Governor Kazuo Ueda expressing a tempered outlook on achieving inflation targets. The BOJ's neutral stance hints at persistent accommodative conditions, influencing the Topix to its highest since 1990 and the JPY to slide to 150.37 versus the USD.
► European markets were mixed as investors gear up for the Federal Reserve's policy meeting. The Euro Stoxx 600 is little changed (-0.1%), with German and French markets hover around the flatline, and London sees slight gains. Traders' attention is now focused on the Fed, with speculation about continued high interest rates influencing market sentiment.
► US stock futures face a downturn after a tech-led recovery on Monday, with Wall Street awaiting further Federal Reserve insights later tomorrow (March 20). The Federal Reserve's dot plot will be crucial for investors, forecasting the expected rate cuts this year amid a backdrop of central banks shaping global economic policy.
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