by JustForex
On Monday, share prices rose slightly amid stabilization of government bonds yield. US Treasuries retreated from the 1.70% level and are 2 basis points lower. Today, the attention of investors will be fixed on the joint speech of Janet Yellen and Jerome Powell in the US Congress. As expected, politicians will express their previous opinion on the need to support the economy by maintaining a soft monetary policy.
This morning, the Office for National Statistics reported that UK unemployment rose less-than-expected during the quarantine as the government’s dismissal program saved workplaces. The number of people looking for job opportunities rose from 11,000 to 1.7 million, bringing the unemployment rate to 5%. Economists had expected the rate to be 5.2%. The number of employed people decreased by 147 000 people.
The forecast for the growth of unemployment has changed. The fourth-quarter unemployment rate is now expected to be 6.5%, but not 7.5% as it was specified in the November forecast. This is also well below the peak of recessions in previous decades, despite the fact that the economy experienced its deepest recession in three centuries last year.
Meanwhile, new restrictions are being introduced in Germany. Chancellor Angela Merkel and regional leaders have agreed to introduce a new lockdown during Easter celebrations to try to counter the third wave of Covid-19.
According to the plan, all stores will be closed from April 1 for five days, with the exception of grocery stores, which will open on April 3. Citizens will be encouraged to stay at home, private gatherings are limited to one household and a maximum of five people. Public gatherings are prohibited.
Free Reports:
Against this background, oil prices continue to remain under pressure, losing just over 1% at the opening of trading in the Asian session. S P 500 futures decreased after a slight increase on Monday.
Main market quotes:
S&P 500 (F) 3,921.38 -8.62 (-0,22%)
Dow Jones 32,731.20 +103.23 (+0,32%)
DAX 14,657.21 +36.21 (+0,25%)
FTSE 100 6,726.10 +17.39 (+0,26%)
USD Index 91.983 +0.242 (+0,26%)
by JustForex
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
By JustMarkets At Monday’s close, the Dow Jones Index (US30) was up 0.16%. The S&P…
By JustMarkets At the end of Friday, the Dow Jones Index (US30) was up 1.18%…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro The latest update for the weekly Commitment of Traders (COT) report was released…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
By InvestMacro Here are the latest charts and statistics for the Commitment of Traders (COT)…
This website uses cookies.