Equities mixed ahead of Fed meeting - 16.3.2021


Top daily news

Stock markets are mixed currently following a bullish session on Monday while US 10-year Treasury yields eased to 1.60% ahead of two-day Fed meeting starting today. Tesla stocks closed up 2.05% as the EV maker officially gave CEO Elon Musk the title of “Technoking of Tesla” in a new regulatory filing on Monday, Apple shares gained 2.45%.

Forex news

The Dollar strengthening has paused currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.2% Monday as business activity continued to expand in New York State in March.

Both EUR/USD and GBP/USD continued sliding Monday despite German federal statistics bureau Destatis report German Wholesale Price Index rose 2.3% over year in February after no change in previous month. Euro is higher currently against the Dollar while Pound’s sliding is intact. AUD/USD continued its sliding as USD/JPY slowed its climbing yesterday with both yen and Australian dollar lower against the greenback currently.

Stock Market news

Futures on three main US stock indexes are higher currently after SP500 and Dow Jones Industrial Average closed at a record highs Monday. The three US main stock benchmarks recorded gains ranging from 0.3% to 1.1%.

European stock indexes are down currently after ending mixed yesterday as Germany and Italy became the latest countries to suspend the use of the AstraZeneca-University of Oxford vaccine over concerns about possible side effects. Asian indexes are mostly higher today with Australia’s All Ordinaries ASX 200 Index leading gains.

Commodity Market news

Brent is edging lower ahead of data from the American Petroleum Institute later today. Prices closed lower Monday despite reports China’s industrial output growth quickened in January-February, beating expectations, and its daily refinery throughput rose 15% from a year earlier. The US oil benchmark West Texas Intermediate (WTI) lost 0.3%. Brent fell 0.5% to $68.88 a barrel on Monday.

Gold Market News

Gold prices are pulling back today . April gold rose 0.6% to $1729.20 an ounce on Monday, highest closing in nearly 2 weeks.

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