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16/03/2021 Market Chat

Authored by TD Markets
16.03.2021
Market Commentary
0
2 min

The vaccine rollouts took a step back yesterday as Germany, Italy and France suspended the AstraZeneca vaccination following the complications reported in the media of possible serious side-effects.

Euro strength is still formidable as it continues to strengthen over the GBP, JPY and CAD. The USD is neutral at the moment prior to FOMC on Wednesday as inflation will be the big talking point during the course of the meeting and how it should have an effect on the forecast for an expected interest rate increase.

US indices closed strong after the initial selloff in the morning session as the buyers took control driving the Dow and S&P to new highs.

Gold, and Silver edged higher prior to the Fed meeting as inflation concerns are putting more pressure on policymakers. Brent, sold off sharply retreating back to $67.50.

The focus for today should be on Retail Sales coming out of the US, with an expected forecast significantly lower than last month.

Tuesday (SAST)
6:30am - Revised Industrial Production m/m (JPY)
Tentative - BOJ Gov Kuroda Speaks (JPY)
2:30pm - Core Retail Sales m/m (USD)
2:30pm - Retail Sales m/m (USD)

Authored by TD Markets
16.03.2021
Market Commentary
0
2 min

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