Markets disappointed by Fed's speakers.

24/03/2021

Yesterday's barrage of Fed's speakers sounded very lightly hawkish, and markets were clearly disappointed, with US indices heading lower.

However, US yields fell sharply, and the 10-year is heading back to 1.6%, but so far providing little comfort for equity investors.

Elsewhere, the Netherlands announced a nationwide curfew, and other restrictions aimed at slowing the coronavirus will be extended by three weeks until late April - joining Germany, France, and Italy, which have already tightened restrictive measures. Neverending. 

European PMIs came out surprisingly strong today, with March readings rising sharply both in France and Germany for both sectors (services and manufacturing).

In the Fx, the EURUSD pair fell below 1.1850, which triggered huge stop-losses and sent the pair toward 1.18. The last time the pair was trading at these levels was in November 2020.

Later in the day, the US durable goods orders are expected to post a large decline from February levels, which might cause further volatility in the financial markets. 

The WTI took another hit on Tuesday and fell sharply below 60 USD, where it remained on Wednesday as well.
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.