{"id":57346,"date":"2023-03-21T21:14:49","date_gmt":"2023-03-21T10:14:49","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57346"},"modified":"2025-11-11T19:20:37","modified_gmt":"2025-11-11T08:20:37","slug":"tuesday-21st-march-2023-asian-stocks-rise-ahead-of-feds-next-interest-rate-decision","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/tuesday-21st-march-2023-asian-stocks-rise-ahead-of-feds-next-interest-rate-decision\/","title":{"rendered":"Tuesday 21st March 2023: \u00c2\u00a0Asian Stocks Rise Ahead of Fed\u00e2\u20ac\u2122s Next Interest Rate Decision"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Shanghai Composite up 0.64%, Hang Seng up 1.37%, ASX up 0.82%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1969.25 (-0.68%), Silver at $22.50 (-0.63%), Brent Oil at $72.97 (-1.11%), WTI Oil at $67.05 (-1.14%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.502, UK 10-year yield at 3.369, Germany 10-year yield at 2.181<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Public Sector Net Borrowing 15.9B vs 10.1B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CHF) Trade Balance 3.31B vs 3.45B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(NZD) Credit Card Spending y\/y 25.60% vs 18.10% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(NZD) Trade Balance -714M vs -1450M expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) Trade Balance -11.3B vs -17.3B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) German PPI m\/m -0.30% vs -1.30% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stock markets followed Wall Street higher on Tuesday ahead of a Federal Reserve decision on another possible interest rate hike amid worries about global banks. Shanghai, Hong Kong and Seoul advanced while Japanese markets were closed for a holiday. Oil prices declined while gold prices eased as the dollar edged up.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors were relieved by measures taken by several central banks to contain a banking crisis and stabilise global financial markets, following the collapse of two U.S. banks and the takeover of troubled Credit Suisse by UBS over the weekend. However, concerns remained about the financial health of other lenders, especially First Republic Bank, which was reportedly in talks for private equity sales.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Traders expected the Fed to go ahead with another rate hike on Wednesday but at a more moderate pace of 0.25 percentage points, down from the 0.5 points previously expected. They also hoped that Fed Chair Jerome Powell would adopt a more cautious tone on future rate increases in light of easing inflationary pressures and the recent banking turmoil.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold prices had shot up to their highest level since March 2022 at $2,009.59 on Monday before retreating as investors digested the impact of central bank actions. Oil prices rebounded on Monday but fell again on Tuesday as demand concerns outweighed supply disruptions in Libya and Kazakhstan.\u00c2&nbsp;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The dollar index, which measures the greenback against a basket of six major currencies, rose 0.1%, making commodities priced in dollars more expensive for holders of other currencies.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">10:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 PM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 PM GMT &#8211; (USD) Existing Home Sales<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Shanghai Composite up 0.64%, Hang [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":62731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-57346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=57346"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57346\/revisions"}],"predecessor-version":[{"id":62750,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57346\/revisions\/62750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/62731"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=57346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}