What you need to know on Tuesday, March 9:
The dollar appreciated against most of its main rivals as US Treasury yields resumed their gains and flirted with their recent highs before the opening of Wall Street. Investors are optimistic after the weekend news related to the passage of the bill by the American Joe Biden on stimulus aid. The Senate approved it with some changes and the House is expected to vote on it this Tuesday.
The EUR / USD pair fell to a new 2021 low of 1.1845, trading close before the Asian open. AUD / USD fell within range, while USD / JPY flirted with 109.00.
GBP / USD spent the day within a 60 pip range, finding buyers around 1.3800. Bank of England Governor Andrew Bailey participated in a webinar on the economic outlook, but his words had no impact on the price of the pound. Bailey said “the outlook is positive but with a lot of cautious realism,” adding that uncertainty is expected to continue, but the Bank of England will provide support. On inflation, Bailey said he expects it to rise “in the short term.” “The UK reopened schools on Monday, the first step in easing restrictions.
The U.S. Federal Reserve announced that it will extend its Payment Check Protection Program Liquidity Line, or PPPLF, for three months through June 30, 2021.
Gold extended its slide ending the day in the red near a new multi-month low of $ 1,676.73 a troy ounce. Crude prices also fell and the WTI settled at $ 64.90 a barrel.
The Dow Jones Industrial Average hit new all-time highs, the S&P also advanced, but the Nasdaq closed in the red.
The US Centers for Disease Control and Prevention said that fully vaccinated people do not need masks or social distancing when meeting people at low risk of COVID-19 indoors. The United States has vaccinated approximately 18% of its population. Israel leads, with 54.6% followed by the United Kingdom, which reached 33% of its vaccinated population. The rest of the world, including the EU, continues to fight vaccine shortages. According to Bloomberg, more than 306 million injections have been administered worldwide.
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