A new day in which economic news won’t matter much in Europe, even though we have a decision on BoE interest – with the March 19 report to be published at the same time.
With that said, given that they have already started actions and cut interest rates by 0.10%, boosting the pace of QE and introducing new business financing measures, their policies are already beginning to be curtailed by their actions.
In this situation, they can either continue QE purchases or act as a Fed. But it will not be surprising if they keep things unchanged for the time being.
As for the market situation, things have gone a bit worse as we await weekly initial applications from the US unemployed. Expectations vary strong in both directions, but whatever the outcome, it casts a huge shadow on the markets as the last two days of the trading week enter.
On the currency board, the dollar again loses some of its position against the euro and the yen, especially. However, the green currency holds its gains against risky and commodity currencies against the backdrop of weaker risk sentiment.
Asian assets are looking for direction, with Japanese markets losing value, along with Chinese ones, while in Australia, the ASX 200 is up 2.3%.
European stocks seem to start the session down, with US asset futures down more than 1%.
UKX in London is 77 points lower, DAX is 141 points lower and CAC is about 48 points in red territory.
Global market sentiment has fallen in anticipation of weekly jobless claims in the US, with a huge rise in unemployment expected in the country as many businesses temporarily shut their doors to halt the spread of COVID-19
Trader Aleksandar Kumanov