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 payroll-tax cut, amid the spreading coronavirus. Meanwhile, 10-year 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 three-quarters of a point in March.

Investors are afraid of the consequences of the coronavirus. On Wall Street, a one-day 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 10-year US government bonds yield fell sharply again. At the moment, the indicator is at the level of 0.61-0.62%.

The news feed on 2020.03.10:
  • - Data on GDP in the Eurozone at 12:00 (GMT+2:00).

by JustForex, 2020.03.10

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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