Key Points:
Action midweek has been of a risk off nature with equity markets under pressure and
the greenback recovering
The Bank of Canada hiked their interest rate 25 points to 4.5% saying they may hold
fire a while they rethink the state of the current economy
Australian 4th Quarter inflation came in hot at 1.9% taking the year-on-year number
to 7.8% up from 7.3%
US Earnings reports took equity markets to fresh lows early this morning dragging
down risk products along for the ride
German forecasters have the economy narrowly avoiding a recession this year with
growth now at 0.2% this year and 1.8% for 2024
ECB members insist on a hawkish tone leading into the next two policy
announcement with a 50-point rise predicted on each occasion
The Australian Dollar (AUD) is the strongest currency this week while the US Dollar
(USD) has been the worst performer.