The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
US ISM Manufacturing PMI
|The US dollar is experiencing high volatility. Although the Federal Reserve is gradually raising rates and this is good for the USD, concerns trade about wars are weighing on the currency. The Institute for Supply Management will release Manufacturing PMI at 17:00 MT time on April 2. PMI is a leading indicator of the US economic health. A reading above 50.0 will be positive for this indicator, and the greenback will have chances to strengthen. Moreover, positive economic data may make the Fed to raise interest rates more than 3 times this year. If the indicator disappoints compared with the forecast level, the USD will decline in the short-term.|
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.
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