FxPro Daily Insight for March 17

Market overview

The Monday collapse of US stocks was the third-largest in history (-12.9%) eclipsing the decline last Thursday. Earlier today, S&P500 jumped 5% and turned negative in just 90 minutes. US stocks are trading in different directions: S&P500 + 0.9%, Dow Jones -0.4%. The FTSE100 is down 1.6%, despite support in the form of a sharp decline in the pound.

It isn’t easy to find a financial asset that feels better than the dollar recently, as global companies turn to it as a liquidity. DXY grew by 1.6% today, already returned to the peak levels of late February (to 3-years high). EURUSD crashed more than 1.7% collapse in ZEW index. GBPUSD returned to near 30+ years lows around 1.2050. AUDUSD sink below 0.6000 for the first time since 2003.

Over the past 4 hours, Gold grew from $1,460 to $1,520, while maintaining the extreme range of intraday fluctuations.

Brent in the spot market fell below $ 30.50, but the last hours stabilized at $ 30.8.

All eyes are on the US markets.

Important events, GMT (Exp.): 09:00 EA !! Consumer Price Index, Feb (1.2% y/y) 12:30 Ca !!! Consumer Price Index, Feb (2.3% y/y) 12:30 US !!! Building Permits, Feb (1500K) 14:30 US !! Crude Oil Inventories, Mar 13