Gold prices rose on Monday, lifted by safe-haven demand as the Ukraine crisis showed no signs of abatement, although the gains were capped by the U.S. Federal Reserve's plan of aggressive measures to combat inflation. Ukraine on Monday rejected Russian calls to surrender the port city of Mariupol, where residents are besieged with little food, water and power and fierce fighting shows little sign of easing.
Technical Resistance: 1969/1984
Technical support: 1900/1884
Expect ECB, Fed to be out of sync: ECB's Lagarde
The world’s two top central banks will move out of sync in the foreseeable future, as the war in Ukraine has vastly different effects on their economies, European Central Bank President Christine Lagarde said on Monday. The U.S. Federal Reserve raised interest rates last week and signalled a string of future moves, just days after the ECB said it was in no hurry to raise its record-low deposit rate, even while it continues to unwind exceptional stimulus. With food prices also expected to jump, the inflation surge will cut deep into households’ purchasing power and the ECB has cut its growth projections, with some policymakers arguing that an even worse outcome is already more likely.
Yen kicks off another week under pressure, with central bank policy in focus
The Japanese yen continued its slide on Monday morning, while the aussie and kiwi remained bid, with traders eying a string of public remarks by global central bank policy makers this week, including Fed chair Jay Powell later Monday. "Japan’s inflation dynamic is very different to that experienced in other major economies we monitor, as a result, an exit from the ultra-easy monetary policy by the Bank of Japan remains a long way off in our view," they said.
China keeps lending benchmark unchanged but Q2 easing expected
China kept its benchmark interest rate for corporate and household lending unchanged on Monday, as expected, although analysts say the case for monetary stimulus is building amid mounting external risks to an already slowing economy. Markets now widely expect policymakers to resume monetary easing soon to revive an economy hit by a domestic COVID-19 resurgence, weaker credit growth and a faltering property sector, while increasing global risks from the Ukraine conflict also add pressure.
Source: Bloomberg, Investing.com, Reuters
• 美元兑马币交易 4.2140
正如预期的那样，中国周一维持企业和家庭贷款的基准利率不变，尽管分析师表示，在已经放缓的经济面临越来越大的外部风险的情况下，货币刺激的理由正在增加。市场现在普遍预计政策制定者将很快恢复货币宽松政策，以重振受到国内 COVID-19 复苏、信贷增长疲软和房地产行业步履蹒跚的打击的经济，同时乌克兰冲突带来的全球风险增加也增加了压力。资料来源: Bloomberg, Investing.com, Reuters