Markets await further impetus for volatility.

16/03/2021

Equity markets were consolidating on Tuesday, with all US and EU indices experiencing minimal volatility and trading flat on the day. 

Germany became the latest country in the region to suspend the use of AstraZeneca’s COVID-19 vaccine after reports of possible serious side effects. The already slow pace of vaccinations n Europe will be even slower. 

Later in the day, German ZEW surveys for March are due, and the EURUSD pair could be volatile afterward. German DAX index might be impacted as well.

Traders will also focus on the US retail sales for February, which is expected to decline sharply from January levels as stimulus impact will be over. Weak US data could be bullish for stocks and bonds (meaning lower yields).

The FX market has been calm on Tuesday as well, with the EURUSD pair flat near 1.1920 and USDJPY last seen at 109.20.

Precious metals were slightly lower, correcting yesterday's gains, but it seems like the bottom is in, at least for now. 
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