March 7, 2022 - Financial Occultist

German DAX, -1.77%
France’s CAC, -1.04%
UK’s FTSE 100 -0.21%
Spain’s Ibex -0.56%
Italy’s FTSE MIB -0.75%

This is the difference between Exit poll and Results

BOJ reportedly may downgrade view on economy at next week’s policy meeting

The downgrade would be attributed to the spike in omicron infections as the latest wave seemed to have dealt a bigger-than-expected blow to consumption activity. The central bank is said to also perhaps warn of heightening economic risks linked to the Russia-Ukraine war, which has led to energy prices soaring.

As such, the sources say that the BOJ will consider offering a bleaker view on the economy and consumption as compared to the previous assessment in January i.e. the economy “showing clearer signs of a pick-up”.

Switzerland Feb foreign exchange reserves CHF 938.3 billion vs CHF 947.2 billion prior

07-Mar-22 01:40 pm

Analysis

Anirudh Sethi

Prior CHF 947.2 billion; revised to CHF 946.7 billion

Swiss reserves eased a little last month but remains bloated historically. With EUR/CHF hitting parity, the SNB will have some tinkering to do as to when and where they will step in to prevent a further drop in the currency pair. SNB FX

France’s Le Maire: We still have room to manoeuver regarding further sanctions on Russia

07-Mar-22 01:12 pm

Anirudh Sethi

These threats are starting to sound less and less convincing when you factor in the impact it is all going to have on the euro area economy and markets. The likelihood of a recession in Europe has increased significantly amid the ongoing tensions. Not to mention that skyrocketing commodity prices – especially oil and gas – will do little to offer any comfort to European citizens.