During today's Turkish central bank meeting, the market anticipated a rate cut between 200-300 pips.
Asian equities demonstrate mixed performance
On Wednesday, Asian equities showed mixed performance due to the fact that China's Vice Premier Liu He is braced for starting trade negotiations with American officials, including US leader today.
The Changhai Composite as well as Shenzhen Component rallied by respectively 0.1% and 0.2% in China, while the Hang Seng Index tacked on by 0.4% in Hong Kong.
As Apple’s CEO Time Cook told, trade clashes between America are receding this month.
Notwithstanding Cook’s remarks, investors are still sceptical whether the two sides could soften their differences over a slew of issues, in particular after on Tuesday the US Department of Justice disclosed two criminal cases against the Chinese tech company Huawei.
Citing sources already familiar with the negotiations, Reuters told that there have been few indications that China’s statesmen are eager to address core American demands on intellectual property rights as well as technology transfers.
The sources pointed out that on forced technology transfers and on the structural concerns, there’s still a great gap between the two trading partners.
The two leading countries are doing their best to come to a compromise before a deadline on March 1. If they fail, US leader might lift levies on $200 billion worth of China’s exports from 10% to 25%.
Besides this, market participants wait for the monetary policy verdict by the key US financial institution later in the day after a two-day gathering of the Federal Open Market Committee.
In addition to this, Japan’s Nikkei 225 headed south by 0.4%.
The KOSPI index rallied by 0.6% in South Korea. Moreover, LG Display declined by nearly 4% in the morning right after the company told that its panel shipments for the first quarter were anticipated to inch down by a high single-digit percentage because of seasonally poor demand.
ASX 200 tumbled by 0.1% in Australia.
More tariffs were introduced
Yesterday, the US Justice Department announced a broad antitrust review ...
We've got some positive news for the British pound and we are awaiting the release of the core retail sales for Canada at 15:30 MT.
The tweet by Iran's foreign minister increased the possibility of tensions in the region. It pushed the oil prices up.
The European trading session will be highlighted by the events for the British pound. Traders will pay special attention to the BOE meeting at 14:00 MT.