Morning wrap (18.03.2021)

7:55 AM 18 March 2021
  • US indices finished yesterday's trading higher. Dow Jones and S&P 500 closed at record highs gaining 0.58% and 0.29%, respectively. Nasdaq moved 0.40% higher and Russell 2000 added 0.73%

  • Stocks in Asia traded higher as well. Nikkei gained 1%, Kospi added 0.6% and indices from China moved higher. S&P/ASX 200 dropped 0.7%

  • DAX futures point to a higher opening of the European session

  • FOMC left rates unchanged and signalled that they will remain near zero through 2023

  • Australian unemployment rate dropped from 6.4 to 5.8% in February (exp. 6.3%) while the economy added 88.7k jobs (exp. +29.9k)

  • New Zealand GDP declined 1% QoQ in Q4 2020 (exp. +0.1% QoQ)

  • Prime Minister Rutte secured the fourth term in recent elections in the Netherlands

  • According to Nikkei, Bank of Japan is set to widen target yield band for 10-year government bonds to +/-0.25% from +/-0.2%

  • Bitcoin trades near $58,500 handle

  • Precious metals gain, WTI trades lower and Brent trades flat

  • CHF and EUR are the worst performing major currencies while NZD and AUD outperform the most

AUDUSD gained following yesterday's FOMC decision and solid employment report from Australia provided more fuel for the move. The pair is making a break above a local high at 0.7835 and trades at the highest level since late-February. Source: xStation5

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