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CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
CFDs are complex instruments. 72% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.

Early Morning Call: Traders cautious after US earnings, First Republic Bank

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APAC equity markets traded mostly lower on Wednesday, following a negative session in the US. In Australia, consumer price index rose 7%, in the first quarter, from 7.8% in the previous three months. For March alone, the CPI rose 6.3% on the year, down from 6.8% in February. Crucially, the RBA trimmed mean CPI, a measure of inflation favoured by the Australian central bank, rose 1.2% in the March quarter, after 1.7% the previous quarter, and lower than the 1.4% anticipated by economists. Futures now imply only a 9% chance of a quarter-point rise in the 3.6% cash rate. The RBA is due to decide on rates next Tuesday.

In Germany, GfK consumer confidence rose more than expected in May, to -25.7, after -29.3 in April. Economist expected a rise to -27.9.

Elsewhere on the equity markets, GSK is the first of a series of pharma group to report earnings this week. GSK published an adjusted operating profit of £2.09Bln, up 9%, helped by sales of its blockbuster shingles vaccine Shingrix. GSK confirmed its full-year guidance.

Standard Chartered posted a 25% increase in underlying pretax profit to $1.7Bln, beating analyst estimates. The bank benefited from rising interest rates and increased trading. This was the largest single-quarter profit since the start of 2014, as credit impairment remained low at just $26 million for the quarter, down from $198 million a year earlier. Standard Chartered said it planned to return in excess of $5Bln to shareholders by 2024.

Elsewhere in Europe, look out for Roche shares in Zurich. The pharmaceutical group unveiled a 7% drop in sales in the first quarter on falling demand for its COVID-19 therapies and diagnostics kits. Also watch out for Danone in France. the group posted better-then-expected sales for the first quarter and raised its 2023 sales growth outlook.


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