Key Points:
The Federal Reserve remains hawkish- early 2023 economic activity shows moderate expansion.
Russia has fired 81 missiles across Ukraine marking the biggest attack since January.
A year ago, yesterday Crude prices closed at $123.00 which was the highest going back to 2008. From this peak it is now down 40% to circa 76.00
Retail Sales figures for February are unchanged from January’s number- a good indicator of economic activity.
US Jobs data comes in light at 211k compared to 195k weakening the greenback.
The Bank of Canada held rates at 4.50% overnight the first pause in 9 meetings but will continue with its quantitative tightening, inflation is starting to come down based largely on lower energy costs.
British House prices decline to a 14 year low.
Japan’s GDP came in lower at 0.1% from 0.6% for the fourth quarter 2022 as domestic demand shrinks.
The US Dollar (USD) has been the best performing currency so far in March while the Australian Dollar (AUD) has been the weakest.