{"id":61855,"date":"2023-03-22T20:37:45","date_gmt":"2023-03-22T09:37:45","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=61855"},"modified":"2025-11-11T18:18:20","modified_gmt":"2025-11-11T07:18:20","slug":"wednesday-22nd-march-2023-higher-interest-rates-loom-as-asian-stocks-rally","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/wednesday-22nd-march-2023-higher-interest-rates-loom-as-asian-stocks-rally\/","title":{"rendered":"Wednesday 22nd March 2023: Higher interest rates loom as Asian stocks rally"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Asian Stock Markets : Nikkei up 1.93%, Shanghai Composite up 0.31%, Hang Seng up 1.70%, ASX up 0.87%<\/li>\n\n\n\n<li>Commodities : Gold at $1947.60 (+0.33%), Silver at $22.55 (+0.54%), Brent Oil at $74.89 (-0.57%), WTI Oil at $69.19 (-0.69%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.579, UK 10-year yield at 3.484, Germany 10-year yield at 2.312<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">News &amp; Data:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>(GBP) CPI y\/y 10.40% vs 9.90% expected<\/li>\n\n\n\n<li>(USD) Existing Home Sales 4.58M vs 4.19M expected<\/li>\n\n\n\n<li>(CAD) Common CPI y\/y 6.40% vs 6.50% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y 4.80% vs 4.90% expected<\/li>\n\n\n\n<li>(CAD) Median CPI y\/y 4.90% vs 4.80% expected<\/li>\n\n\n\n<li>(CAD) CPI m\/m 0.40% vs 0.50% expected<\/li>\n\n\n\n<li>(EUR) German ZEW Economic Sentiment 13 vs 14.9 expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asian stocks rose on Wednesday as investors awaited the US Federal Reserve&#8217;s decision on interest rates, which is expected to be a 25 basis point hike. The move would be the first rate increase since June 2022 and would signal the Fed&#8217;s confidence in the US economic recovery amid the ongoing banking crisis.<\/p>\n\n\n\n<p>China&#8217;s Shanghai Composite index gained 0.5%, Hong Kong&#8217;s Hang Seng surged 2.3%, South Korea&#8217;s KOSPI advanced 1.1% and Japan&#8217;s Nikkei 225 jumped 1.9%. India&#8217;s Nifty 50 also climbed 0.70% to close at 17,107.50, supported by positive cues from global markets and easing domestic inflation.<\/p>\n\n\n\n<p>Among commodities, crude oil prices edged higher as OPEC+ agreed to maintain its current output levels until April 2023, despite concerns over demand due to the Omicron variant of Covid-19. Gold prices, however, fell as the prospect of higher interest rates reduced the appeal of the safe-haven metal. The US dollar index, which measures the greenback against a basket of six major currencies, was little changed at 96.40 as traders awaited further guidance from the Fed on its monetary policy outlook and tapering plans.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>07:00 AM GMT &#8211; (GBP) CPI y\/y<\/li>\n\n\n\n<li>08:45 AM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/li>\n\n\n\n<li>06:00 PM GMT &#8211; (USD) FOMC Economic Projections<\/li>\n\n\n\n<li>06:00 PM GMT &#8211; (USD) FOMC Statement<\/li>\n\n\n\n<li>06:00 PM GMT &#8211; (USD) Federal Funds Rate<\/li>\n\n\n\n<li>06:30 PM GMT &#8211; (USD) FOMC Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian stocks rose on [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":71231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-61855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=61855"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61855\/revisions"}],"predecessor-version":[{"id":61899,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61855\/revisions\/61899"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/71231"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=61855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=61855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=61855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}