Markets calm on Tuesday morning

There has been minimal volatility in the financial markets during the Asian session on Tuesday, with indices erasing their overnight gains to trade flat.

Metals followed the behaviour and were flat during the London session, with most FX pairs unmoved. 

Later in the day, the EU GDP for the fourth quarter of 2020 is expected to come out at -5.1% year-on-year, while the quarterly change is forecast at -0.7%. Similar results will most likely be reported for the first quarter of this year, mainly due to neverending lockdowns and bankruptcies. 

Moreover, German ZEW surveys will be published, and the mood among businesses remains sour. 

During the US session, traders will pay attention to the NY empire state manufacturing index for February, which is expected to improve to 6.0 from 3.5 previously.

Meanwhile, US traders are returning to their desks after yesterday’s holidays, most likely leading to an increase in volatility and liquidity. 

Source: https://www.axiory.com/market-news/markets-calm-on-tuesday-morning