FxPro Daily Insight for February 25

Market overview

The sale on world markets paused, the indices bounced somewhat, but failed to develop growth. Futures for S&P500 are adding 0.53%, FTSE100 is losing 0.85%, having returned to the area of 12-month lows below 7100.

The markets are increasingly critical of a V-shaped economy rebound amid the coronavirus.

DXY retreats from 3-year peaks for the third session in a row. The pound and the yen feel better than others against the dollar, which undermines the DXY value. EURUSD has difficulty rebounding above 1.0850. Pound growth is an additional pressure factor on the FTSE100.

USDJPY returned to 110.40, which acts as a sign of fragile market sentiment. The success of attempts to bounce markets is now in question.

Brent is trading near $55.3, losing intraday, but is still noticeably above Monday’s lows ($ 54.60).

Gold fell to $1,633 at the beginning of the day on Tuesday, correcting to 61.8% of the February rally, but then it turned to growth, trading near $1,650 now.

Important events, GMT (Exp.):

15:00 US !!! CB Consumer Confidence 20:00 US !! FOMC’s Richard H. Clarida Speaks 09:00 Sw !! Credit Suisse ZEW Survey