FxPro Daily Insight for March 19
March 19, 2020 @ 19:01 UTC
High volatility remains on the stock markets, but on Thursday, the indices are moving in both directions, not only down. DJI adds 1.6%. FTSE100 added 0.8%, EuroStoxx50 – strengthens by 2.0%.
Today, there have been new policy easing from the Fed, the Bank of England, the Reserve Bank of Australia, Brazil, South Africa and many Asian Central Banks. Despite softening policies, some of the currencies of developing countries are adding, believing that these measures will support the economy in the future.
Gold is trading at $1482, for the first time in 15 months, stably trading below the 200-day average.
Brent is adding $0.5 to Wednesday’s close. WTI grew 8% today, supported by the announcement strategic reserve buying in the USA.
Despite the unstable nature of trading and the persistence of increased volatility, there are more and more “growth zones” – market sectors where purchases occur. For now, it may be bargain hunters, not long-term buyers.
Important events, GMT (Exp.):
EA !!! ECOFIN Meetings
13:00 US !! Existing Home Sales
17:00 WTI !!! Baker Hughes US Rig Count