Stock markets are seen rising again on Wednesday, having corrected lower on Tuesday. Volatility remains elevated as US yields fail to decline, and this volatile environment is good for short-term traders.

Meanwhile, according to the Caixin services purchasing managers’ index, China’s services sector activity grew at its slowest pace in ten months in February. The index came out at 51.5, down from 52.0 previously.

Later in the day, services PMIs are due across the Eurozone, but volatility should not be elevated unless there are some huge revisions.

Investors will also pay attention to the US ADP employment report, with forecasts expecting 177,000 new jobs, near January’s 174,000.

Moreover, the ISM services for February will be released, which is a major indicator for the US economy. 

The EURUSD pair tested the 1.20 level to the downside yesterday, but a massive wave of buying emerged, and the euro rose 100 pips throughout the rest of the day. 

In the precious metals sector, gold and silver staged a comeback yesterday, but fresh selling reemerged again, with gold down half a percent during the London session, trading near 1,725 USD.



About Author

Peter Bukov

Peter comes from a background in corporate finance which began in 2013 when he completed the Corporate Finance Program at the University of Economics in Bratislava. He’s been actively involved in the market sector since 2008 and got his hands-on experience in trading in 2011. His experience in finance and trading continues not only as a market analyst at Axiory Intelligence but also through his studies to obtain a degree in Capital Markets. The study is in line with MIFID II regulations and is under the supervision of the European Regulator ESMA, which strongly emphasizes ethics and morale in investing and working with a client.

Comments are closed.