{"id":59025,"date":"2023-03-30T11:29:36","date_gmt":"2023-03-30T08:29:36","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=59025"},"modified":"2025-10-13T12:48:34","modified_gmt":"2025-10-13T09:48:34","slug":"as-market-worries-calm-attention-shifts-back-to-incoming-data","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/ph\/as-market-worries-calm-attention-shifts-back-to-incoming-data\/","title":{"rendered":"As market worries calm attention, shifts back to incoming data"},"content":{"rendered":"

The USD remained relatively stable against its counterparts yesterday, as the market worries about a possible contagion of the crisis in the US banking sector continued to ease preventing the greenback from any substantial gains. Traders are expected to turn their attention towards the release of the final GDP rate for Q4 last year and a possible acceleration of the rate could provide some support for the greenback. On the other hand though an extended positive market sentiment may lead to safe haven outflows for the greenback on a fundamental level. The main release of the day though is expected to be Germany\u2019s preliminary HICP rate for March and a possible slowdown of the rate could weaken the common currency as it may foreshadow a wider slowdown of inflationary pressures in the Eurozone thus allowing the ECB to ease its hawkish approach. It\u2019s characteristic that one of the main drivers behind ECB\u2019s hawkish approach in the past was Germany\u2019s Bundes Bank and a slowdown of Germany\u2019s HICP rate may soften their approach as pressure is reduced. Overall, we note that there was an improved market sentiment in the market that allowed US stock markets to be on the rise as all three major indexes, the Dow Jones, S&P 500 and Nasdaq ended their day in the greens, maybe with the tech sector leading the way. It\u2019s characteristic that there seems to be an overspill of yesterday\u2019s positive market sentiment also in Europe\u2019s stock markets with Frankfurt\u2019s DAX and Paris\u2019 CAC opening with positive gaps in today\u2019s European sessions, sending an optimistic signal. We should note though that gold\u2019s price edged lower yet the overall picture remains of a sideways movement, partially also due to the fact that US yields remained relatively unchanged, a possible drop of US yields may polish the shiny metal. We intend to keep under close watch the movement of the 2-year and 10-year yields of US Bonds today, while the negative correlation of the USD and gold\u2019s price may also play a key role for gold\u2019s price today. WTI prices edged lower yesterday despite the EIA crude oil inventories figure showing a surprise drawdown as a Russian supply cut was lower than expected, while the worries for supplies from Iraq\u2019s Kurdish territory remain present and should the expectations for a tighter supply intensify we may see oil\u2019s prices gaining some ground. \u00a0<\/p>\n\n\n\n

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