Equities in tailspin after range of rate cuts
G7 call in the spotlight
A range of the emergency moves from major central banks (Fed, RBNZ, BoJ) over recent hours has caused some turmoil on the financial markets. Asian equities sank along US futures and European stocks are expected to open with massive declines. Investors should pay attention to incoming newsflow as it looks likely that other central banks will take action as well. Among central banks that are rumoured to take action as soon as today is the Bank of Canada. Apart from that, economic calendar is light today.
European & US session
12:30 pm GMT - US, Empire manufacturing index for March. Expected: 4.4 pts. Previous: 12.9 pts
2:00 pm GMT - G7 video conference. Video conference of G7 leaders (Canada, France, Germany, Italy, Japan, UK, US) is a key point in today’s calendar. The topic of the call is ‘coronavirus response’. Note that in case a joint, decisive action is agreed on, sentiment on the markets may improve.
0:30 am GMT - RBA minutes