Forex News

Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.

The USD skyrocketed after Fed Powell’s speech. OPEC and allied producers agreed to extend production cuts for another month. Oil surged.

The European Central Bank publishes its monetary policy statement that includes an announcement of the interest rate on March 11, at 14:45 MT time.

Fed Chair Jerome Powell will testify today at 19:05 MT time. This event is crucial for traders as the tone of the speech may set the risk tone for the markets for the next two weeks.

Non-farm payrolls, the most awaited economic report, will be out on March 5 at 15:30 MT time.

BoA has tracked signs of the upcoming stock market sell-off. While more expensive and at-risk stocks are set to fall, value stocks should survive. 

Australian GDP rose by 3.1%, exceeding analysts’ forecasts of 2.5%. The Australian dollar climbed after the release, but then joined its peers in falling against the USD.

The US Services PMI will be out at 17:00 MT time on March 3.

On Saturday, the US Food and Drug Administration approved Johnson&Johnson’s vaccine for emergency use against Covid-19. Will JNJ rise?

JPMorgan said that flows to Bitcoin funds are significantly weaker than in December. Should traders worry about that? Let’s find out.