Early Morning Call - April 4, 2023

RBA decided to keep its cash rate unchanged at 3.6%. This put an end to a run of 10 straight hikes that took interest rates up by 350 basis points. The Bank says it wants additional time to assess the impact of past increases.

Saga swings back to profits. The group reports this morning an underlying profit before tax of £21.5Mln, compared to a loss of €6.7Mln a year ago. Saga says its ocean cruise business continues to see strong demand, and this year's booking are on track to meet targets.

US retailer Walmart is expected to cut more than 2,000 jobs at five e-commerce warehouses in the US, according to Bloomberg. The layoffs follow a push by Walmart to compete with Amazon online. 

 
Subscribe ► https://www.youtube.com/IGUnitedKingdom?sub_confirmation=1
Learn how to trade with IG: https://bit.ly/HowToTradewithIG

Learn more about IG: https://www.ig.com?CHID=9&SM=YT
Twitter: https://twitter.com/IGcom
Facebook: https://www.facebook.com/IGcom
LinkedIn: https://www.linkedin.com/company/igcom

We provide fast and flexible access to over 17,000 financial markets – including indices, shares, forex and commodities – through our award-winning range of platforms and apps.

Established in 1974 as the world’s first financial spread betting firm, we’re now the world’s No.1 provider of CFDs and spread betting* and a global leader in forex. We also offer an execution-only share dealing service in the UK, Ireland, Germany, Austria and the Netherlands. Our range of affordable, fully managed investment portfolios rounds out our comprehensive offering to investors and active traders.

Through our low fees and smart price-sourcing technology, we help traders keep their costs down.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading spread bets and CFDs with this provider†. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit.

* Based on revenue excluding FX (published financial statements, February 2018).

† For the 12 months preceding 1 April 2020.