Equity markets in Europe were mostly up yesterday. Investors are gearing up for the week ahead as key data such as the flash Eurozone PMI and final inflation data will be released. The market also looks forward to the Fed and ECB meeting minutes and semiconductor giant Nvidia Corp's (NVDA) earnings report.
The offshore yuan (CNY) is holding near 7.20 per dollar as investors reacted to the central bank's latest decision. The People's Bank of China (PBoC) cut its main five-year lending rate by 25 basis points to 3/95%, beating forecasts for a 15 bps cut. It was the most aggressive cut since this rate was introduced in 2019 as China continues to struggle with a sluggish economic recovery. Meanwhile, the PBoC left the one-year lending rate unchanged at 3.45%. Earlier this week, investors were cheered by strong travel data from China during the Lunar New Year celebrations, which exceeded pre-New Year's Eve levels this year.
Latest changes in the stock market:
⏸ Dow Jones Index (US30) did not trade yesterday;
⏸ S&P 500 Index (US500) did not trade yesterday;
⏸ NASDAQ Technology Index (US100) did not trade yesterday;
🔽 German DAX (DE40) down by 0.15%;
🔼 French CAC 40 (FR40) up by 0.01%;
🔼 Spanish IBEX 35 (ES35) up by 0.59%;
🔼 British FTSE 100 (UK100) up by 0.22%.
The offshore yuan (CNY) is holding near 7.20 per dollar as investors reacted to the central bank's latest decision. The People's Bank of China (PBoC) cut its main five-year lending rate by 25 basis points to 3/95%, beating forecasts for a 15 bps cut. It was the most aggressive cut since this rate was introduced in 2019 as China continues to struggle with a sluggish economic recovery. Meanwhile, the PBoC left the one-year lending rate unchanged at 3.45%. Earlier this week, investors were cheered by strong travel data from China during the Lunar New Year celebrations, which exceeded pre-New Year's Eve levels this year.
Latest changes in the stock market:
⏸ Dow Jones Index (US30) did not trade yesterday;
⏸ S&P 500 Index (US500) did not trade yesterday;
⏸ NASDAQ Technology Index (US100) did not trade yesterday;
🔽 German DAX (DE40) down by 0.15%;
🔼 French CAC 40 (FR40) up by 0.01%;
🔼 Spanish IBEX 35 (ES35) up by 0.59%;
🔼 British FTSE 100 (UK100) up by 0.22%.