Markets in Details: 21 March 2019

21 March, 2019

News

  • President Trump announced that tariffs on China would remain for the time it will take to make changes that the U.S. demands from the world’s second largest economy. Market observers had earlier expected tariffs to be rolled back once a trade deal was reached.

The focus of attention

  • The markets will focus on the EURUSD after the U.S. Federal Reserve held the interest rate unchanged, removed any expectations for rate hikes this year and warned of risks to global growth. The Fed’s move not to have rate increases in 2019 also raises fear that the current economic cycle is close to its end, which caused Treasuries rally.

Expected events. All times GMT.

  • 0930 UK will release the February Retail Sales.
  • 1200 UK will release the BOE’s Interest Rate Decision.
  • 1230 U.S. will release the Philly Fed Manufacturing Index and Initial Jobless Claims.

Technical Analysis

  • EUR/USD jumped on Wednesday evening after the U.S. Federal Reserve bank removed any expectations for rate and warned of risks to global growth in 2019, thus weakening the dollar. The move broke the prevailing trend line of the asset and we could expect a continuation during Thursday session.

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