This is what you need to know to trade today Monday March 27:
Following the high volatility of the previous week, financial markets appear to have started the new week on an upbeat note, with US stock index futures trading in positive territory and the Euro Stoxx 50 opening more than 1% higher. The Institute IFO to publish business sentiment data in Germany and the US economic agenda will publish the dallas fed manufacturing index. Investors will closely follow the statements of central banks.
Following Friday’s rebound, the DXY US Dollar Index is trading in a tight range slightly above 103.00 early Monday and the 10-year US Treasury yield is holding on to modest gains of around 3.4%. . Several Fed policymakers spoke ahead of the weekend, but their comments do not appear to have a significant impact on rate expectations. According to the CME Group’s FedWatch tool, markets are currently pricing in almost a 70% chance that the FOMC will keep the policy rate unchanged after the next meeting in early May.
Over the weekend, the FDIC issued a statement announcing that First Citizens BancShares Inc had purchased all of Silicon Valley Bank’s loans and deposits and had granted the Federal Deposit Seguro Corp participation rights in its shares worth $500 million, according to Reuters. This development appears to be helping to improve risk sentiment early on Monday.
Despite closing in negative territory on Friday, the EUR/USD managed to record profit last week. The pair remains in the consolidation phase below 1.0800 in the European morning. It is anticipated that the Germany’s IFO index rises to 94.1 points from 93.9 in February.
After the deep correction on Friday, the GBP/USD managed to stabilize above 1.2200. At time of writing, the pair is moving slightly higher around 1.2250. The Governor of the Bank of England, Andrew Bailey, give a speech at 17:00 GMT.
The pair USD/JPY It has benefited from improving market sentiment earlier in the week and has broken above the 131.00 level. Earlier in the day, data from Japan showed the Coincident Index improved to 96.4 in January from 96.1 and the Leading Economic Index rose to 96.6 from 96.5.
He gold it tested $2,000 early on Friday but fell sharply after failing to stabilize above that level. In the early hours of Monday, the XAU/USD still under pressure amid recovering US yields and is now down 0.5% on the day, slightly below $1,970.
He Bitcoin remained directionless over the weekend but ended earning more than 25% on a weekly basis. BTC/USD is trading in a tight range below $28,000 on Monday. He ethereum It rose towards $1,800 on Sunday, but lost traction. At time of writing, ETH/USD is down more than 1% on the day at $1,750.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
