There Are Aggressive Sales in the Markets

During yesterday’s trading session, the US currency fell significantly against a basket of major currencies. The dollar index (#DX) closed in the red zone (1.11%). President Trump said he planned “very substantial relief,” including payrolltax cut, amid the spreading coronavirus. Meanwhile, 10year US government bonds fell below 0.7% as part of growing fears caused by uncertainty about a further outbreak of coronavirus. Investors also suggest that the Fed will again cut base interest rates by threequarters of a point in March.

Investors are afraid of the consequences of the coronavirus. On Wall Street, a oneday fall in stocks has been recorded since the 2008 financial crisis. Oil prices collapsed by 30% after Saudi Arabia stunned markets, promising to lower prices and increase production amid the OPEC+ deal disruption.

The “black gold” prices are slightly recovering. Currently, futures for the WTI crude oil are testing the $33.50 mark per barrel. At 22:30 (GMT+2:00), API weekly crude stock will be published.

Market indicators

Yesterday, there were aggressive sales in the US stock market: #SPY (7.81%), #DIA (7.78%), #QQQ (6.95%).

The 10year US government bonds yield fell sharply again. At the moment, the indicator is at the level of 0.610.62%.

• Data on GDP in the Eurozone at 12:00 (GMT+2:00).

by JustMarkets, 2020.03.10