US dollar remains stable at the start of Monday.
The US Dollar (USD) is starting the week slowly, with no significant movements on Monday. However, because no US Federal Reserve (Fed) officials will speak this week. The Greenback is expected to trade in a relatively strong data-driven environment. This is because the Fed’s blackout period began prior to the rate decision and Chairman Jerome Powell’s address next week.
This week, all eyes will be on the US CPI statistics ahead of the Fed’s interest rate announcement next week.
Looking ahead in the economic calendar, focal This week’s points are for Tuesday, Thursday, and Friday. On top of the board is the US Consumer Price Index (CPI), which will be revealed on Tuesday. Any drop in inflation will be enough for markets to bring forward the Fed’s much anticipated rate decreases. Add in Thursday’s US Producer Price Index (PPI) and Retail Sales data. And the Greenback might be trading in a completely different ballpark by Friday.
Daily Market movers:US dollar remains stable.The Federal Reserve will remain quiet.
The US Dollar (USD) is starting the week slowly, with no significant movements on Monday.
There was no ceasefire agreement negotiated over the weekend. So Muslims in Gaza will approach Ramadan fasting with limited supplies.
The Portuguese elections were unexpectedly right wing, however a coalition is yet unclear. With more European countries facing elections this year. A rightward shift could lead to further trade protectionism.
Japanese equities markets fell on Monday as a revision of Gross Domestic Product (GDP) figures revealed that Japan had only just emerged from a recession, throwing doubt on an expected interest rate hike.
US Treasury Department has three auctions to manage:
This Monday, the US Treasury Department has three auctions to manage: Around 15:30 GMT, both a 3-month and a 6 month bill will be auctioned. At 17:00 GMT. A longer 3-year note will be introduced onto the market.
This Monday marks the start of the week with a fairly mixed image on the stock market. All Japanese indices are closing by more than two percent in the red, while Chinese equities indices are up more than 1%. Europe is not following China’s lead, with both the German Dax and the Stoxx 50 trading over 0.50% down. US market futures are near flat or slightly negative ahead of the US session.
According to the CME Group’s FedWatch Tool, 96% of economists expect the Fed to pause at its March 20 meeting, while 4% expect a rate cut.
The benchmark 10-year US Treasury Note is trading around 4.05%, its lowest level in almost a week.
