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Analytics, 20 March 2023

What will drive the markets this week?

Last week saw equities globally close mostly lower on Friday as Wall Street’s investors showed concerns about the bank sector. Tech-focused lender Silicon Valley Bank shut down following losses in its bond portfolio, prompting the biggest bank failure since the global financial crisis and sending shockwaves through the banking sector.

European shares erased early gains and experienced their steepest weekly drop in five months, with the pan-European STOXX 600 ending down 1.3%, largely due to the pressure faced by the bank, insurance, and financial services stocks.

This week, Monetary policy will take center stage with the two-day meeting of the Federal Open Market Committee (FOMC) starting on Tuesday and a decision on interest rates expected on Wednesday. Officials at the Bank of England (BoE) will hold their policy meeting Thursday. We can expect data on new and existing home sales for February, along with a PMI survey reading from S&P Global due on Friday. We’ll also receive the latest inflation readings from the U.K. and Japan.

Monday, March 20

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Friday, March 24

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