📆 Thursday, April 11
► European stock markets showed little movement as all eyes turned towards the European Central Bank, anticipated to hold rates steady while setting the stage for a potential rate cut in June. Energy stocks were among the few standouts, buoyed by sustained oil prices amid Middle Eastern tensions. The Stoxx 600 (- 0.2%) barely moved, reflecting a market bracing for the ECB's signals amidst varying inflation and economic conditions across the region.
► In the US, futures markets stabilized after a notable drop in the S&P 500 and Nasdaq, triggered by US inflation data that came in hotter than expected, dampening hopes for imminent Federal Reserve rate cuts. With the Treasury 10-year yield topping 4.5% for the first time since November, the focus has slightly shifted from the Fed to the ECB's upcoming decisions, although Fed Chair Jerome Powell's recent comments still echo in market sentiments.
► Asian markets ended mixed with Japan and Hong Kong seeing declines, while China posted modest gains. This was due to the fact that Japanese equities suffered from the weaker confidence of manufacturers and the uncertainty of the JPY (or Bank of Japan) with renewed rumors of intervention. Conversely, China's markets received a minor boost from the central bank's support measures for the CNY, aiming to counteract the USD’s strength. China's consumer inflation rose at a slower pace than expected in March, edging up only 0.1% YoY compared to forecasts of 0.4%, reflecting a notable slowdown as post-Lunar New Year effects waned and non-food inflation eased
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