Global Factors influencing ASX stocks on 20 April 2023

On 20 April 2023, at AEST 10:26 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 9.70 points or 0.13%, and is currently trading at 7,355.90 levels. Out of 11 sectors, 6 are trading higher despite decline in the S&P/ASX 200. The Energy and Healthcare were the top 2 declining sectors, declining 2.02% and 0.93% in their index values.

On that note, let us look at a few global reasons impacting the stock market today:

1. Some of the key U.S. indices ended higher and some ended lower in their previous session. NASDAQ Composite ended higher 0.03% and NASDAQ-100, Dow jones, S&P 500 ended lower 0.02%, 0.23%, 0.01% respectively.

2. Oil prices fell around 2% to a two-week low in the previous session, as the dollar rose on expectations that imminent Federal Reserve interest rate rises may dampen energy consumption in the world's largest consumer.

3. Gold prices slipped marginally in Asian trade in the previous session but remained near important levels as investors anticipated additional clues on US monetary policy from a series of scheduled Federal Reserve speakers and publications.

4. The dollar climbed in the earlier session, boosted by higher Treasury yields, while the pound rose versus the greenback after British inflation remained above 10% in March, putting further pressure on the Bank of England to maintain hiking rates.

5. New Zealand consumer price index inflation increased less than anticipated in the first quarter of the year, but it still managed to hold steady near 30-year highs and remain far beyond the Reserve Bank's goal range.

6. The Hang Seng is down1.37 % and FTSE 100 is up 0.13%.

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