Issue link: https://maltatoday.uberflip.com/i/1446087
Name Current Change %Change Open High Low Prev. Value Close US MARKETS NASDAQ 13,783.94 244.64 1.81 13871.77 13901.94 13725.23 13539.30 EUROPEAN MARKETS FTSE 7,473.50 102.04 1.38 7371.46 7525.58 7371.46 7371.46 CAC 6,974.47 136.51 2.00 6901.74 7024.14 6901.74 6837.96 DAX 15,428.08 304.21 2.01 15273.06 15524.96 15272.87 15123.87 ASIAN MARKETS SGX Nifty 17,221.00 0.00 0.00 17236.00 17255.00 17155.50 17221.00 Nikkei 225 27,011.33 -120.01 -0.44 27105.98 27184.54 26858.68 27131.34 Straits Times 3,271.57 23.81 0.73 3253.81 3280.48 3250.21 3247.76 Hang Seng 24,289.90 46.29 0.19 24342.90 24487.30 24123.70 24243.61 Taiwan Weighted 17,674.40 -26.72 -0.15 17657.97 17776.42 17633.03 17701.12 KOSPI 2,709.24 -11.15 -0.41 2729.75 2744.14 2708.10 2720.39 SET Composite 1,643.44 4.35 0.27 1645.49 1649.82 1642.07 1639.09 Jakarta Composite 6,600.82 32.65 0.50 6569.82 6601.34 6549.52 6568.17 Shanghai Composite 3,455.67 22.61 0.66 3442.69 3462.12 3417.76 3433.06 27.1.2022 7 INTERNATIONAL MARKETS International Markets Global Indices Trading Date: 26 January 2022 Pound Sterling recovers from three-week lows THERE was further choppy trading across asset classes during Tuesday with Wall Street surrendering gains. ere was, however, a more positive tone on Wednesday with gains in equity markets amid some considerations that conditions were over-sold. Sterling remains sensitive to risk conditions and secured a limited net advance with the Pound to Dollar (GBP/USD) exchange rate recovering to around 1.3500 from 3-week lows below 1.3440. e Pound to Euro (GBP/EUR) exchange rate also se- cured a net recovery to 1.1955. ere were still reservations over the Ukraine situation with the potential for demand for defensive assets if there is an escalation in the situation. Jane Foley, head of FX strategy at Rabobank commented; "e U.S. dollar is a safe haven suggesting that cable [GBP/ USD] is likely to slip on any further increase in tensions." US Dollar holds firm ahead of Fed statement e Federal Reserve will release its latest policy statement on Wednesday with Chair Powell holding the regular press conference. ere are strong expectations that the Fed will signal that asset purchases will be wrapped up soon with the signal that rates are likely to be increased in March. Shinichiro Kadota, senior FX strategist at Barclays com- mented; "I think the Fed will acknowledge that a March hike is likely, and then key is if they'll indicate a faster pace of hikes and also an earlier end to tapering than they've signalled so far. If it turns out to be more hawkish then ob- viously the dollar will benefit." Citibank expects the Fed to leave room for manoeuvre; "We think the Fed will signal the beginning of the rate hik- ing cycle but otherwise remain vague about the pace and timing." Marshall Gittler, Head of Investment Research at BDSwiss Group, commented; "they are not likely to back off tighten- ing. Both the President and Congress have made it clear that inflation is the #1 problem that they face politically right now." Gittler does, however, expect a slightly less hawkish tone from Powell; "I think given the recent turbulence in the stock market, they're likely to push back on market pricing and try to lower market rate expectations."