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FxPro Daily Insight for March 11

Market overview
Stock volatility remains extremely high. Futures for S&P500 losing 2.7% on Wednesday after 4.9% jump the day before. EuroStoxx50 grows by 0.8%, FTSE100 – by 0.3%. Earlier today, Nikkei 225 closed at the lowest level since December 2018.

The dollar index reversed to decline, losing 0.5% on Wednesday after a jump of 1.5% a day earlier. A 50-point BoE interest rate cut did not have a lasting effect as GBPUSD has been adding 0.2% since the start of the day. Commodity-linked ZAR, RUB, CAD are losing ground, again. Safe-heavens JPY, EUR, CHF, as well as China-tightened NZD, AUD are leading in strengthening against the USD.

From the day start, Gold grew from $1650 area to $1670.

Brent returned to decline after touching the $40 at the beginning of the day. Russia and Saudi Arabia muscle game (who can supply more energy), cripples Crude’s attempts to turn to growth.

Stock volatility remains extremely high

Important events, GMT (Exp.):
12:30 US !!! Consumer Price Index, Feb (2.2% y/y)
14:00 US !! Treasury Secretary Mnuchin Speaks
12:45 EA !!! ECB Interest Rate Decision (0.0%)
13:30 EA !!! ECB Press Conference


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