RBNZ lifts interest rates by 50 bps

The Reserve Bank of New Zealand increased its interest rates by 50 bps at its first meeting of the year. Now they are at their highest level in 14 years. This is the most aggressive tightening since 1999, and Wednesday’s increase marks the tenth consecutive increase.

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Charles Schwab suffers losses

Charles Schwab is facing risks due to unrealized losses of over $29 billion on its balance sheet from 2022. As a result, Schwab shares have lost over a quarter of their value since March 8, with some analysts expecting earnings to suffer. The company’s CEO, Walt Bettinger, said the company is healthy and prepared to withstand the turmoil.

BoE lifts interest rates again

The Bank of England lifted the UK’s interest rates by 25 bps, the eleventh rate hike in a row. The interest rates were increased from 4% to 4.25%, reaching 15-year highs, with the aim of bringing inflation down.

SNB raises interest rates to 1.5%

The Swiss National Bank joined the Fed with another rate hike of 50 bps. The interest rates were increased from 1% to 1.5%, the highest since 2008. The central bank suggested more rate hikes could occur this year. 

Fed raised interest rates by 25 bps

The Federal Reserve raised interest rates by 25 bps as expected, from 4.75% to 5%. The news pushed Bitcoin to $29,000 and Nasdaq close to $13,000.

Inflation levels rise

The annual inflation rate in the UK unexpectedly jumped from 10.1% to 10.4%, significantly higher than the 9.9% forecast. Lebanon’s inflation surged from 123.53% to 189.67%. South Africa’s inflation jumped by 0.1% from 6.9% to 7%.

Canada’s inflation drops

Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.

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Ripple jumps 12% amid market rally 🚀

Ripple (XRP) jumped an additional 12% to $0.58, as investors hope the lawsuit between the SEC and Ripple is coming to an end. The cryptocurrency is already up 65% in the last 2 weeks.

Saudi Aramco x China 🛢

Saudi Aramco is working with China to build a $12.2 billion oil refinery. The refinery will be in northeast China, and it is expected to be fully operational in 2026. About 300,000 barrels of oil a day will be housed at the refinery.

Alibaba soars 13% after announcement

The announcement of Alibaba’s plan to divide itself into six distinct businesses boosted the stock by 13%. This reorganization may result in many IPOs down the road. The segments would be cloud, e-commerce, global e-commerce, digital mapping, logistics, and a media arm.

5 banks investigated over $100b fraud

Five large banks in France were reportedly targeted by investigators as part of a €100 billion fraud probe. French and German  governments were involved because of a possible money laundering allegation. The banks under investigation are HSBC, Societe Generale, BNP Paribas, Exane, and Natixis.

Charles Schwab suffers losses

Charles Schwab is facing risks due to unrealized losses of over $29 billion on its balance sheet from 2022. As a result, Schwab shares have lost over a quarter of their value since March 8, with some analysts expecting earnings to suffer. The company’s CEO, Walt Bettinger, said the company is healthy and prepared to withstand the turmoil.

Hong Kong as a digital asset hub

Hong Kong still wants to become an international center for digital assets. The special administrative region’s regulators plan on getting crypto companies and bankers together. A recent Bloomberg report says that the meeting will take place at the Hong Kong Monetary Authority on April 28th.

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AUD/USD falls after domestic CPI – Chinese warnings about Taiwan

It looks like the medium-term downtrend might continue for the AUD/USD pair.
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SP500
-0.16%

Traders take the market for a red ride as risk appetite increases

Risk appetite dominates the market and sends the session to a red end. Commodities have been the winners of the day.
Gold jumps as stocks fall, but confidence remains weak
XAU
0.68%

Gold jumps as stocks fall, but confidence remains weak

Gold capitalized on a weaker dollar today, maintaining a bullish trend. Are we going back to $2,000?

Forex outlook: Current state of CAD/JPY, EUR/AUD, and AUD/JPY

Explore current trading situation from the forex market, which we analyzed with technical analysis amid rising volatility.