Global financial markets remain mildly offered during Tuesday’s trading, following a mixed closing on Monday as fresh covid fears from China add to the already strained sentiment.
DAX and FTSE stay pressured even as oil prices extend the previous day’s slump. However, neither gold nor the US dollar benefits from the safe-haven demand by the mid-European session.
Elsewhere, XRP and DASH lead the bears wherein BTC and ETH lost over 2.0% daily by the press time.
The following is the market performance on March 15 by 11:00 AM GMT:
Having witnessed a light calendar on Monday, Eurozone Industrial Production and ZEW data flashed downbeat signals for January and March respectively. The economics added to the market’s pain as the latest covid resurgence from China and the actual cost of the Russia-Ukraine war isn’t unknown yet.
Talks between Ukraine and Russia resume after an abrupt halt on Monday, with officials from Kyiv signaling an end of the war by May but Moscow sounds mostly normal.
Meanwhile, China’s covid numbers remain around the early pandemic days, calling for virus-led lockdowns in multiple cities from the dragon nation, including one that’s near Beijing.
Talking about cryptos, Glassnode data suggests short-term BTC buyers turning long-term holders while Elon Musk ruled out speculations of selling his cryptocurrencies. Though, neither BTC nor his favorite DOGE could cheer his comments.
Amid the recently mixed risk appetite and China’s COVID-19 woes, not to forget looming concerns over Ukraine-Russia, the US Treasury yields ride north.
Given the firmer expectations of the Fed’s 0.25% rate-hike, as well as increasing chatters over a series of rate lifts in 2022, the US Treasury yields can keep the head high, which in turn could weigh on the riskier assets like commodities and Antipodeans.
This, however, can help the US dollar while exerting adding downside pressure on equities, as well as for cryptocurrencies.
It’s worth noting that the recently improving signals from Ukraine may offer a positive start to Wall Street before the bears can retake control.
Make profit from the price variability with MTrading, the best broker for beginners and professionals! Trade safely and enjoy the most favorable trading conditions:
May the trading luck be with you!