Markets disappointed by Fed’s speakers

Yesterday’s barrage of Fed’s speakers sounded very lightly hawkish, and markets were clearly disappointed, with US indices heading lower.

However, US yields fell sharply, and the 10-year is heading back to 1.6%, but so far providing little comfort for equity investors.

Elsewhere, the Netherlands announced a nationwide curfew, and other restrictions aimed at slowing the coronavirus will be extended by three weeks until late April – joining Germany, France, and Italy, which have already tightened restrictive measures. Neverending. 

European PMIs came out surprisingly strong today, with March readings rising sharply both in France and Germany for both sectors (services and manufacturing).

In the Fx, the EURUSD pair fell below 1.1850, which triggered huge stop-losses and sent the pair toward 1.18. The last time the pair was trading at these levels was in November 2020.

Later in the day, the US durable goods orders are expected to post a large decline from February le

Source: https://www.axiory.com/market-news/markets-disappointed-by-fed-s-speakers