The EURUSD pair has been rising sharply recently, bolstered by the rising German yields as the 10-year yield rose to new cycle highs near -0.218%. US yields have been lagging somewhat. Thus the yield differential turned positive for the EURUSD pair.   

Earlier in the session, the UK claimant count change for February came in better than expected, with the unemployment rate falling to 4.9%, versus the expected rise to 5.1%, compared with January’s 5.0%. Sterling was trading higher afterward, with the GBPUSD pair rising above the important 1.40 level again.

Additionally, the People’s Bank of China kept its main interest rate unchanged at 3.85%, as widely expected. There are no further major macro data on the agenda today. Therefore volatility could be lower throughout the day.

US equities corrected lower yesterday, thus we should expect a strong rally today as indices are not allowed to drop two days in a week. 

Precious metals also fell yesterday, but silver is up 1% today, and gold was trading flat at around 1,770 USD at the time of writing.



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.

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