Economy on 21.03.2023...
The market moves cautiously to the FED decision ⤵️
Yesterday, the market started with great caution and then recovered at the close of trading, strong. The DAX is even climbing back above 15,000 points. The crypto sector is benefiting the most from the "bank death". Yesterday, the First Republic Bank was again put in focus, which announced last Thursday that it has problems. This was now saved by JP Morgan and Co. with their own capital. Nevertheless, further hard measures are taken internally to bring the bank back on course. This has given the course first :)
Bitcoin is running towards $30,000, which would again be a very prominent point and a strong bullish signal.
The German market is currently not so much affected and is strongly opposed. I assume that the stock market will soon forget the whole spectacle. In the end, the capital must be in the market. This will be sometimes more and sometimes less, sometimes more risky and sometimes less. There will always be profit-taking and reallocations. Currently, a lot has again flowed into the solid tech stocks.
Excitingly, the market now awaits the decision of the Fed. This will again be directional. And I believe that much more important will be what is said for the future. Because currently I think no one expects more 50 basis points. It will be the expected 25 basis points or, with all surprise, a zero number. But both would be rather positive, after the 50 basis points were initially priced in. Much more important is what the FED plans to do in the future. It remains exciting.
Today, the following dates are scheduled:
Japan stock market holiday
Economic data
08:00
- EU: Acea, new car registrations, February
- DE: Leading indicator foreign trade on exports to non-EU countries
- DE: Producer prices for services 4Q and year 2022
- DE: Turnover in hotels and restaurants January 08:00 CH: Trade balance February
09:30
- LU: Court of Justice of the European Union, ruling in Mercedes-Benz Group case (liability of manufacturers of vehicles with defeat devices/thermo window usage credit)
11:00
- DE: ZEW-Index Economic Sentiment March PROGNOSIS: 17.8 points previously: 28.1 points Economic situation PROGNOSIS: -44.0 points previously: -45.1 points
13:30
- CH: Panel on digital central bank money at BIS Innovation Summit, participation of ECB President Lagarde and ECB Governing Council member Villeroy de Galhau, among others.
14:30
- EU: ECB Director Panetta, hearing in EP's Economic and Monetary Affairs Committee on Banking Supervision 2022.
15:00
- US: Existing home sales February PROGNOSIS: +4.0% yoy previous: -0.7% yoy
16:30
- EU: ECB banking supervision chief Enria and Eba chief Campa, EP Economic and Monetary Affairs Committee hearing on the consequences of the SVB insolvency and the impact on financial stability in Europe
21:30
- US: Crude oil inventory data (week) from private American Petroleum Institute (API) No time:- EU: General Affairs Council.
Quarterly figures / corporate dates USA / Asia
21:15 Nike quarterly figures
Quarterly figures / corporate dates Europe
07:00 RWE | Hella | Amadeus Fire Annual Results
07:30 Pfeiffer Vacuum Annual Results
08:00 Kingfisher Annual Results
18:00 Deutsche Euroshop Annual Results
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