Central banks have financial markets in a spin.
Government bonds rose, the euro slid and equities fluctuated as investors waited to see if European Central Bank President Mario Draghi will satisfy heightened speculation on further stimulus measures. U.S. stock-index futures climbed. South Koreas won rallied after policy makers refrained from lowering borrowing costs, New Zealands bonds surged on a surprise rate cut, and Hungarys forint dropped after an official hinted that policy may be loosened. Gold fell for a third day and crude oil retreated from a three-month high.
We are waiting in anticipation of what Draghi will say — there is a good chance that the market could rally a bit on that, said Allan von Mehren, chief analyst at Dansk…
Read the full article at: http://www.bloomberg.com/news/articles/2016-03-09/asian-equities-set-to-rebound-with-aussie-kiwi-down-on-rate-cut