- European stocks finished higher, dollar strengthens
- Belarus may launch attack on Ukraine today
- US imposes further sanctions on Russia
Today's session was largely dominated by geopolitical events. All major European bourses rebounded, with the benchmark DAX 30 adding over 1% to above 13,600 points and closing the week on a solid note. Positive moods appeared after the comments of Vladimir Putin, who announced a positive turn in talks with Ukraine. On the data front, Germany's headline inflation rate was confirmed at 5.1% in February, just marginally below an over 29-year high of 5.3% hit two months earlier, while the UK economy rebounded more strongly than expected in January.
Nevertheless, the sentiment deteriorated after the launch of the US session. President Biden imposed another package of sanctions on Russia, which include: a ban on the import of Russian alcohol, seafood and diamonds, a ban on the export of luxury goods to Russia. US will prohibit future investments in any sector of the Russian economy. Russia is cut off from obtaining funding from the IMF or the World Bank. Late in the afternoon, the Israeli Jerusalem Post reported, Belarus could launch its offensive against Ukraine today. On the data front, the University of Michigan's consumer sentiment index fell to 59.7 in March, well below analysts’ estimates of 61.4. Currently, the US100 trades 1% lower and the US500 index is hovering near the flat line.
Mixed moods prevail in the commodities markets amid a stronger dollar. US 10-year Treasury yields remain elevated around 2.00% while precious metals are trading below the flat line, although buyers managed to erase most of early losses. Oil prices moved slightly higher after recent declines. WTI oil currently trades around $108.40, while Brent rose to $111.60. Major cryptocurrencies moved lower during today's session. Bitcoin price dropped briefly below $38,500, while Ethereum trades around $2560 level.
NZDUSD pair fell sharply during today's session and broke below the upward trendline. Nevertheless buyers managed to halt declines around 0.6815 support, which coincides with 38.2% Fibonacci retracement of the last upward wave. Should break lower occur, support at 0.6773 may be at risk. Source: xStation5
BREAKING: US100 jumps amid stronger than expected US NFP report
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
NFP preview
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