Markets stay relatively calm early Tuesday as investors look ahead to Wednesday’s FOMC meeting and the Bank of England’s policy announcement early in the week.
The benchmark 10-year US Treasury bond yield has remained flat, hovering around 3%, while the currency has held its footing against its rivals. Meanwhile, market sentiment is cautiously upbeat, with US stock index futures up 0.3 percent to 0.4 percent.
The markets will also be looking upon the eurozone unemployment and Producer Price Index (PPI) figures, as well as the US’s March Factory Orders for fresh impetus.
Further Sanctions on Russia Rattle the Markets
Germany has stated Monday that they are not opposed to banning oil imports from Russia, and as a result Germany’s DAX 30 Index fell more than 1%. Furthermore, new EU sanctions will include more Russian banks being pushed out of the global SWIFT network.
The EUR/USD currency pair closed the first day of the week with small losses as safe-haven demands dominated the financial markets, while GBP/USD managed to rebound to above 1.2500 after nearly losing 100 pips on Monday.
Meanwhile, gold has hit a new low on Monday as investors grow wary of China’s slowing economic activity reverberating through to other major economies.
Bitcoin is stuck in a tight band over $38,000, while Ethereum is trading with small losses near $2,800 early Tuesday.
*OspreyFX would like to state that traders should research extensively before following any information given hereby. Any assumptions made in this article are provided solely for entertainment purposes and not for traders to guide or alter their positions. Please read our Terms & Conditions and Risk Disclosure for more information.
Subscribe to our newsletter to receive our weekly updates + more straight to your inbox!