This is what you need to know to trade today Tuesday, March 9:
Markets are mixed on Tuesday after Chinese authorities intervened to prop up equity markets. The dollar is retreating as bond yields are moving away from their highs, while Bitcoin is extending its gains.
Yields on US Ten-Year Bonds They are around 1.56%, below the highs above 1.60% recorded on Monday, allowing the dollar to retreat. Gold is also licking its wounds, but remains below $ 1,700. The bond auction figures and inflation data are expected on Wednesday.
Treasury Secretary Janet Yellen said the U.S. economy should reach full employment in 2022, sooner than it would if the President’s $ 1.9 Trillion Covid Aid Package. The House is prepared to vote on the amended Senate legislation on Tuesday or Wednesday. Yellen dismissed concerns about inflation.
Intervention: A sell-off of Chinese stocks prompted authorities to jump into the markets to grab stocks and help stabilize. The crash came after tech stocks suffered around the world. NASDAQ futures are on the rise after suffering significantly on Monday.
The EUR/USD has been extending its decline as Europe’s vaccination campaign continues to slow and after data from the European Central Bank will show that the pace of bond buying continues to be slow. The ECB meets on Thursday. The updated growth figures for the eurozone will be released on Tuesday.
The GBP/USD is trading above 1.3830 after the Governor of the Bank of England, Andrew Bailey, reiterated that negative rates are ruled out.
Virus: Italy has passed the grim milestone of 100,000 deaths from COVID-19 as cases rise once again. The US Center for Disease Control and Prevention said vaccinated people can gather without masks in small groups.
The Bitcoin It has been extending its rise, trading above $ 53,000. Ethereum is above $ 1,800 and XRP is close to $ 0.50.
See: Five factors that will move the US dollar in 2021 and not necessarily lower
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