{"id":57358,"date":"2023-03-22T20:37:53","date_gmt":"2023-03-22T09:37:53","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57358"},"modified":"2025-11-11T19:20:29","modified_gmt":"2025-11-11T08:20:29","slug":"wednesday-22nd-march-2023-higher-interest-rates-loom-as-asian-stocks-rally","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/wednesday-22nd-march-2023-higher-interest-rates-loom-as-asian-stocks-rally\/","title":{"rendered":"Wednesday 22nd March 2023: Higher interest rates loom as Asian stocks rally"},"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 : Nikkei up 1.93%, Shanghai Composite up 0.31%, Hang Seng up 1.70%, ASX up 0.87%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1947.60 (+0.33%), Silver at $22.55 (+0.54%), Brent Oil at $74.89 (-0.57%), WTI Oil at $69.19 (-0.69%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.579, UK 10-year yield at 3.484, Germany 10-year yield at 2.312<\/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) CPI y\/y 10.40% vs 9.90% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Existing Home Sales 4.58M vs 4.19M expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Common CPI y\/y 6.40% vs 6.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Trimmed CPI y\/y 4.80% vs 4.90% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Median CPI y\/y 4.90% vs 4.80% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) CPI m\/m 0.40% vs 0.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) German ZEW Economic Sentiment 13 vs 14.9 expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian stocks rose on Wednesday as investors awaited the US Federal Reserve&#8217;s decision on interest rates, which is expected to be a 25 basis point hike. The move would be the first rate increase since June 2022 and would signal the Fed&#8217;s confidence in the US economic recovery amid the ongoing banking crisis.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">China&#8217;s Shanghai Composite index gained 0.5%, Hong Kong&#8217;s Hang Seng surged 2.3%, South Korea&#8217;s KOSPI advanced 1.1% and Japan&#8217;s Nikkei 225 jumped 1.9%. India&#8217;s Nifty 50 also climbed 0.70% to close at 17,107.50, supported by positive cues from global markets and easing domestic inflation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Among commodities, crude oil prices edged higher as OPEC+ agreed to maintain its current output levels until April 2023, despite concerns over demand due to the Omicron variant of Covid-19. Gold prices, however, fell as the prospect of higher interest rates reduced the appeal of the safe-haven metal. The US dollar index, which measures the greenback against a basket of six major currencies, was little changed at 96.40 as traders awaited further guidance from the Fed on its monetary policy outlook and tapering plans.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:\u00c2&nbsp;<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:45 AM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 PM GMT &#8211; (USD) FOMC Economic Projections<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 PM GMT &#8211; (USD) FOMC Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 PM GMT &#8211; (USD) Federal Funds Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:30 PM GMT &#8211; (USD) FOMC Press Conference<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 1.93%, Shanghai Composite [&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-57358","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\/57358","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=57358"}],"version-history":[{"count":3,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57358\/revisions"}],"predecessor-version":[{"id":62749,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57358\/revisions\/62749"}],"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=57358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}