{"id":25655,"date":"2018-03-22T12:33:03","date_gmt":"2018-03-22T07:03:03","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25655"},"modified":"2018-03-22T12:33:37","modified_gmt":"2018-03-22T07:03:37","slug":"thursday-22nd-march-fed-hikes-rates-by-25bps-trump-to-announce-china-tariffs-today","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-22nd-march-fed-hikes-rates-by-25bps-trump-to-announce-china-tariffs-today\/","title":{"rendered":"Thursday 22nd March: Fed hikes rates by 25bps, Trump to announce China tariffs today"},"content":{"rendered":"<h4>\n\t<strong>Global Markets:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\tAsian Stock Markets : Nikkei up 0.92%, Shanghai Composite down 0.63%, Hang Seng down 0.54%, ASX down 0.22%\n\t<\/li>\n<li>\n\t\tCommodities : Gold at $1330.10 (+0.65%), Silver at $16.54 (+0.71%), WTI Oil at $69.34 (-0.19%), Brent Oil at $65.11 (-0.09%)\n\t<\/li>\n<li>\n\t\tRates : US 10-year yield at 2.866, UK 10-year yield at 1.529, Germany 10-year yield at 0.587\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t(AUD) Unemployment Rate 5.60% vs 5.50% expected\n\t<\/li>\n<li>\n\t\t(AUD) Employment Change 17.5K vs 19.8K expected\n\t<\/li>\n<li>\n\t\t(NZD) Official Cash Rate 1.75% vs 1.75% expected\n\t<\/li>\n<li>\n\t\t(USD) Federal Funds Rate &lt;1.75% vs &lt;1.75% expected\n\t<\/li>\n<li>\n\t\t(USD) Crude Oil Inventories -2.6M vs 2.6M expected\n\t<\/li>\n<li>\n\t\t(USD) Existing Home Sales 5.54M vs 5.41M expected\n\t<\/li>\n<li>\n\t\t(USD) Current Account -128B vs -125B expected\n\t<\/li>\n<li>\n\t\t(GBP) Unemployment Rate 4.30% vs 4.40% expected\n\t<\/li>\n<li>\n\t\t(GBP) Public Sector Net Borrowing -0.3B vs -0.4B expected\n\t<\/li>\n<li>\n\t\t(GBP) Claimant Count Change 9.2K vs -3.1K expected\n\t<\/li>\n<li>\n\t\t(GBP) Average Earnings Index 3m\/y 2.80% vs 2.60% expected\n\t<\/li>\n<li>\n\t\tFed Outlook: Headwinds Shift to Tailwinds, But Pace of Hikes Still Gradual\n\t<\/li>\n<li>\n\t\tUS tariffs have limited impact on China so far, but broad-ranging measures would\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong>Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\tAsian markets traded mixed today, following dovish takeaways from the Fed meeting. As expected, the Fed hiked interest rates by 25bps. While the median dot is still for 3 hikes in 2018, it has now push the dot to now imply three hikes in 2019, and 2 in 2020. That said the economic projections from the FOMC was more hawkish than expected. The outcomes were largely in line with expectations, and were already priced in in the markets.\n<\/p>\n<p>\n\tJapanese equities were outperforming in a rebound from the weakness observed in the past few days &ndash; primarily due to political events. The PBoC and HKMA toed the Fed&rsquo;s line on rate hikes. Investors are wary about China, given the set of trade tariffs that President Trump is expected to announce today &ndash; primarily targeting Chinese companies. However, news that China plans to open up its economy is being welcomed by the markets.\n<\/p>\n<p>\n\tAustralia had a spate of bad numbers, with unemployment growth missing expectations, and jobless rate increasing. While miners continued to outperform backed by stronger commodities, the macros were seen pulling down the ASX.\n<\/p>\n<p>\n\tThe dollar index suffered its largest fall in two months yesterday, with the yen, euro and sterling all strengthening. The HKD hit a 33 year low yesterday, amid trade war concerns. Oil prices are near the 3 year high that was hit in January, and the environment continues to favour price increases.\n<\/p>\n<h4>\n\t<strong>Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t08:00 AM GMT &#8211; (EUR) French Flash Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:00 AM GMT &#8211; (EUR) French Flash Services PMI\n\t<\/li>\n<li>\n\t\t08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI\n\t<\/li>\n<li>\n\t\t08:30 AM GMT &#8211; (EUR) German Flash Services PMI\n\t<\/li>\n<li>\n\t\t09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI\n\t<\/li>\n<li>\n\t\t09:00 AM GMT &#8211; (EUR) Flash Services PMI\n\t<\/li>\n<li>\n\t\t09:00 AM GMT &#8211; (EUR) German Ifo Business Climate\n\t<\/li>\n<li>\n\t\t09:30 AM GMT &#8211; (GBP) Retail Sales m\/m\n\t<\/li>\n<li>\n\t\t12:00 PM GMT &#8211; (GBP) MPC Official Bank Rate Votes\n\t<\/li>\n<li>\n\t\t12:00 PM GMT &#8211; (GBP) Monetary Policy Summary\n\t<\/li>\n<li>\n\t\t12:00 PM GMT &#8211; (GBP) Official Bank Rate\n\t<\/li>\n<li>\n\t\t12:00 PM GMT &#8211; (GBP) Asset Purchase Facility\n\t<\/li>\n<li>\n\t\t12:00 PM GMT &#8211; (GBP) MPC Asset Purchase Facility Votes\n\t<\/li>\n<li>\n\t\t12:30 PM GMT &#8211; (USD) Unemployment Claims\n\t<\/li>\n<li>\n\t\t05:00 PM GMT &#8211; (GBP) MPC Member Ramsden Speaks\n\t<\/li>\n<li>\n\t\t06:45 PM GMT &#8211; (CAD) Gov Council Member Wilkins Speaks\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.92%, Shanghai Composite down 0.63%, Hang Seng down 0.54%, ASX down 0.22% Commodities : Gold at $1330.10 (+0.65%), Silver at $16.54 (+0.71%), WTI Oil at $69.34 (-0.19%), Brent Oil at $65.11 (-0.09%) Rates : US 10-year yield at 2.866, UK 10-year yield at 1.529, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-22nd-march-fed-hikes-rates-by-25bps-trump-to-announce-china-tariffs-today\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 22nd March: Fed hikes rates by 25bps, Trump to announce China tariffs today<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25651,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=25655"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25655\/revisions"}],"predecessor-version":[{"id":25657,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25655\/revisions\/25657"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25651"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}