FX MARKET REPORT 16.03.2021

FX MARKET REPORT 16.03.2021

FX MARKET REPORT 16.03.2021

Daily Commentary
FX MARKET REPORT 16.03.2021
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FX MARKET REPORT 16.03.2021

GBP/USD witnessed some follow-through selling for the third straight session on Tuesday. Vaccine fears weighed on investors’ sentiment and benefitted the safe-haven greenback. Softer US bond yields any strong gains for the USD and helped limit losses for the major. Investors look forward to US Retail Sales for some impetus ahead of the FOMC and BoE. Market participants are likely to take cues from Tuesday’s release of the US monthly Retail Sales data. Apart from this, the US bond yields might influence the USD price dynamics and produce some short-term trading opportunities around the GBP/USD pair. EUR/USD keeps the trade above the 1.19 level on Tuesday. The German Economic Sentiment improved to 76.6 in March. US Retail Sales, Industrial Production next in the calendar. The dollar index was up 0.1% at 91.927. USD/JPY was up 0.1% at 109.22, after rising to a nine-month high of 109.36 on Monday and ahead of the Bank of Japan’s two-day policy meeting starting Thursday. AUD/USD dropped 0.3% to 0.7736.

GBP/USD witnessed some follow-through selling for the third straight session on Tuesday. Vaccine fears weighed on investors’ sentiment and benefitted the safe-haven greenback. Softer US bond yields any strong gains for the USD and helped limit losses for the major. Investors look forward to US Retail Sales for some impetus ahead of the FOMC and…

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