What you need to know on Tuesday, March 2:
Upbeat US data and better equity performance pushed the dollar higher against European rivals and lower against commodities. EUR / USD is trading below 1.2100 while GBP / USD was rejected from around 1.4000.
The Australian dollar and the Canadian dollar advanced, even as commodity prices fell.
Gold prices resumed their declines after a failed attempt to rebound, with spot ending the day at $ 1,720.00 a troy ounce. WTI fell to $ 60.00 a barrel
The USD / JPY pair is approaching 107.00 amid combined demand for the dollar and rising stocks. Meanwhile, US Treasury yields had a quiet day, hovering around Friday’s closing levels.
Wall Street advanced after the US House of Representatives passed US President Joe Biden’s stimulus bill. Democrats hope to have it finished by March 14, when the current stimulus expires.
Coronavirus: The number of new global infections increased last week for the first time in almost two months. Meanwhile, experts suspect that the Brazilian strain could evade natural immunity, raising all the alarms. The world continues immunization with vaccines at an uneven rate.
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