Market overview
Global stock indices started the day down, but European business activity indices managed to somewhat improve the situation. S&P500 loses 0.2%, Euro50 and FTSE100 – by 0.4% each.
DXY retreated from 3-year highs at 99.81, reached overnight, losing 0.2%. EURUSD, GBPUSD received support on stronger than expected February PMIs. Markets are curiously waiting for the same US data. The main question is whether the effect of the Central Bank’s stimulus is stronger than the anxiety surrounding China’s supply disruptions.
By the US open, USDJPY has returned above 112.00, approving the craving of investors from Asian assets – away from problems with logistics and demand crashes for certain groups of goods.
Brent oil holds at $57.7, halting the decline after touching $ 59.60 on Thursday afternoon following the stock markets.
Gold grew 3.3% so far this week, updating its 7-year highs during the rally and despite the rising USD, with which it often moves in opposite directions.
Important events, GMT (Exp.): 14:45 US !! Preliminary Manufacturing PMI (51.5) 15:00 US ! Existing Home Sales (5.46M) 18:30 US !! FOMC Clarida, Mester speak
- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…
- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…
The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…
The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…
- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…
- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…
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