Calm Monday, investors waiting for macro updates


On Friday, the European Central Bank President Christine Lagarde assured market participants that reductions in the central bank’s emergency bond-buying program were not discussed.

Moments ago, German IFO surveys came out below market expectations, with the expectations gauge dropping below 100 again, which might be negative for the outlook of the German economy. 

Later today, the US durable goods orders will be released. Analysts predict a notable improvement from the last month's levels, which might cause some volatility in the markets.

On Wednesday, the FOMC will conclude its two-day policy meeting, and investors are not expecting any changes to its monetary policy. The following statement will most likely sound dovish, with the Fed acknowledging higher inflation but still saying it is only temporary.

Stocks surged on Friday, with most US indices rising toward record highs as traders bought the dip after Thursday's Biden tax plans. It looks like the immediate momentum is still very bullish, and the market can't make a larger correction than 2%. 

In the FX, the USD continues to be dumped, with the EURUSD pair rising above 1.21 and the USDJPY pair dropping below 108 again. 
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