This is what you need to know to trade today Tuesday March 16:
Markets remain calm amid the countdown to the Fed and lower US yields pushing the dollar lower. Europe is struggling with vaccine problems, US President Joe Biden is considering raising taxes, as Bitcoin extends its slide from new highs and US retail sales will be closely watched.
Stock markets and returns: The S&P 500 Index hit a new all-time high on Monday and additional gains are expected. The calm sentiment is driving US 10-year Treasury yields down below 1.60%, pushing the dollar slightly lower across the board.
The Federal Reserve You will walk a fine line between acknowledging the improvement and refraining from hinting that it would lead to rate hikes. The focus will be on the central bank’s “dot chart” with the economic forecasts.
Incentives and taxes: According to the news, US President Joe Biden is contemplating undoing his predecessor’s tax cuts to pay for the recently approved $ 1.9 trillion stimulus plan and future spending on infrastructure. Markets seem indifferent to potentially hostile policies for businesses.
The figures of US retail sales for February they will show a decline in general spending after a rebound in January, driven by previous government support.
The EUR/USD it is trading above 1.19 but below the highs. All large European countries have suspended the use of AstraZeneca’s COVID-19 vaccines, suspicious of a possible link to blood clots. The Old Continent, which is seeing signs of a new wave of coronavirus, relies heavily on these vaccines and the postponement implies a delay in the economic recovery. The European regulator says there is no evidence that vaccines cause problems.
The CDU party German Chancellor Angela Merkel is looking for a new direction after the defeats in the regional elections and before the national elections in December. It is expected that the German ZEW Economic Sentiment rise amid optimism for a vaccine-driven recovery and despite the recent delay.
The Bitcoin it is trading around $ 54,000, extending its decline from the highs above the $ 60,000 reached over the weekend. Ethereum is trading around $ 1,740 and XRP is relatively stable below $ 0.50.
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