- Wall Street indices launched today's trading lower but managed to recover during the session
- S&P 500 trades 0.3% higher, Dow Jones gains 0.1%, Nasdaq jumps 0.5% and small-cap Russell 2000 adds 0.4%
- European stock market indices traded higher today - German DAX gained 0.5%, UK FTSE 100 traded flat, French CAC40 and Dutch AEX added 0.3%, while Italian FTSE MIB traded 0.4% higher
- Energy commodities traded mixed today - oil gained 0.4% while US natural gas prices were 0.1% down
- Precious metals benefitted from USD weakness, with gold gaining 0.6%
- Cryptocurrencies traded lower today but Bitcoin and Ethereum managed to buck the trend gaining 0.3% and 1.5%, respectively
- AUD and NZD are the best performing G10 currencies, while JPY and USD lag the most
- Fed Chair Powell repeated that it looks appropriate to cut rates this year but it is still uncertain when first rate cut should occur
- Fed Bostic said he is still expecting one rate cut this year. Bostic also said he does not expect inflation to return to 2% target until 2026
- ECB de Cos said that central scenario suggest the first rate cut to be in June
- OPEC+ JMMC did not recommend any oil policy changes at today's meeting. However, it was noted that compliance with oil output cuts needs to improve
- A 7.4 magnitude earthquake hit Taiwan today, triggering tsunami warnings in Japan and Philippines. This was the strongest tremor the island has seen in 25 years
- US services ISM index dropped from 52.6 to 51.4 in March (exp. 52.7), driven by a slump in Price Paid subindex
- ADP report showed a 184k increase in US employment in March (exp. 148k)
- Euro area CPI inflation decelerated from 2.6 to 2.4% YoY in March (exp. 2.5% YoY), while core measure decelerated from 3.1 to 2.9% YoY (exp. 3.0% YoY)
- Euro area unemployment rate for February came in at 6.5% (exp. 6.4%)
- Final US services PMI index came in at 51.7 - in-line with flash release
- DOE report showed an unexpected 3.21 million barrel build in US oil inventories (exp. -1.5 mb), as well as 4.26 million barrel drop in gasoline inventories (exp. -0.8 mb) and 1.27 million barrel decline in distillate inventories (exp. -0.5 mb)
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