- European stocks recover
- US equities rose more than 2%
- US 10-year treasury yield eased slightly
European indices finished today's session sharply higher, with DAX 30 adding 1.6% and other major indexes gaining between 1.6% and 1.9% as anxiety over rising government bond yields faded at least for now. On the pandemic front, more than 20 million people in the UK have received their first vaccine shot. Meanwhile French investors welcomed the rollout of an additional billion euros into support for the industrial sector as the government accelerates the deployment of stimulus money. On the political front, former French President Nicolas Sarkozy was found guilty of corruption and influence peddling.
US indices are trading higher, with all three major indexes gained more than 2% as positive economic data lifted expectations that the US economic recovery is gathering pace. The ISM Manufacturing PMI reached three-year high of 60.8 in February, well above analysts' expectations of 58.8. Also hopes regarding approval of Presidents Biden massive $1.9 trillion stimulus package supported bullish sentiment. Bill has passed in the House last week and is now awaiting final vote in the Senate. Meanwhile the 10-year U.S. Treasury note yield fell slightly to 1.42% today, off by 2 basis points from Friday and down from its recent high of 1.6% on Thursday. Yields seem to be stable at these levels, which encouraged investors that the rapid rise in rates was at least slowing.
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appWTI crude fell 1.4% and is trading slightly below $60.70 a barrel, while Brent is trading 1.0% lower around $63.75 as weak manufacturing data from China raised concerns regarding the pace of ongoing economic recovery in the world’s largest crude importer. Elsewhere gold fell 0.6% to $ 1,721.00 / oz, while silver is trading 0.64 % lower near $ 26.45 / oz.
Gold has continued its downward trend. The closest noteworthy support is located at $ 1,690 which is marked with 61.8% Fibonacci retracement from the D1 interval. Source: xStation5
