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Daily digest market movers: Durable Goods to the rescue

guntur360
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  • The Indonesian Central Bank has raised its key policy rate from 6.00% to 6.25% while markets were looking for a hold or a rate cut.
  • Chinese building conglomerate Country Garden has extended all its Yuan Bonds in order to avoid a local default.
  • The US Senate has passed a $95 billion aid package for Ukraine, Israel and Taiwan.
  • USD/JPY is ticking up again to 154.90, making a new multi-decade high. Bank of America has warned in a report on Wednesday that a forex intervention might be nearby. 
  • At 11:00 GMT, the weekly Mortgage Bankers Application Index will be released. Last week, the index surged by 3.3%, with no forecast pencilled in.
  • At 12:30 GMT, the preliminary Durable Goods print for March will be released:
    • Headline orders grew by 1.3% in February, with no forecast for March..
    • Orders without transportation, a widely followed indicator by markets, are expected to increase at a steady rate of 0.3%.
  • The US Treasury is heading to markets to allocate a 5-year Note.  
  • It is another green day in equity markets, with Asian indexes broadly up by 2% and both European equities and US indices futures up by 0.50%.
  • The CME Fedwatch Tool suggests June will still be a no-change to the monetary policy rate for the Federal Reserve by 84.8%, with September bearing a 46.7% probability for a rate cut against 31.6% for unchanged. 
  • The benchmark 10-year US Treasury Note trades around 4.62%, near the low for this week.


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