Today’s Stock Exchanges, January 23rd. Uncertain markets, the pressure of the ECB hawks is growing. The Eurozone can avoid recession
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MILAN – A cautious reopening is looming for the European and American markets, while the Asian ones operated without Chinese price lists on the occasion of the Lunar New Year. On a day where Christine Lagarde will speak, investors weigh the words of some Eurotower ‘hawks’. Like the governor Klaas Knot who sealed off the option of a double hike of 50 points in February and March, assuring that the time to slow down the squeeze was “still far off”; while colleague Olli Rehn said that there is every basis for “significant increases” in the cost of borrowing in winter and early spring. Beliefs supported by the fact that the Eurozone economy is holding up better than expected. According to the consensus of economists consulted by the Financial Times, the drop in energy prices and the reopening of the Beijing economy – together with public support – are allowing the area with the single currency to get on track for a +0.1% of the GDP in 2023.
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Seat reduced in Asia, Tokyo climbs 1.3%. The yellow of the BoJ
Negative futures on Wall Street
Negative futures on Wall Street. Caution prevails on the markets at the start of the week, with most of the Chinese stock exchanges closed today for the Lunar New Year holiday and awaiting some key macroeconomic data such as the US GDP reading for the fourth quarter, scheduled for Thursday, and of important quarterly like that of Microsoft. Futures on the Dow Jones travel below parity, those on the Nasdaq mark -0.07% and those on the S&P 500 register a -0.09%.
Oil falls in Asian markets
Oil prices fell at the start of the week in a session of light trading with major Asian markets closed for the Lunar New Year. Futures on WTI drop 0.33% to 81.37 dollars a barrel while those on Brent drop 0.28% to 87.38 dollars a barrel.
Seat reduced in Asia, Tokyo climbs 1.3%. The yellow of the BoJ
Less trading session in Asia with major marketplaces (Shanghai, Hong Kong, Seoul and Singapore) closed for the Lunar New Year. The Tokyo Stock Exchange closes the session with a sharp rise, with investors betting on a possible easing of the Federal Reserve’s tightening. The Nikkei index finished trading with an increase of 1.33% to 26,906.04 points.
From the minutes of the BOJ meeting in December, it was revealed that government officials who participated in the board had asked for a half-hour postponement surprised by the institution’s decision to change the yield curve controls. Such a thing rarely happens and usually only happens at times of key decisions, such as when the BOJ introduced negative interest rates in 2016. At its December 19-20 meeting, the institute maintained its ultra-loose monetary policy but shocked markets with a surprise change to its bond yield control that allows long-term interest rates to rise more.
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