The euro jumped and major indexes lost ground as new stimulus measures by the European Central Bank were offset by a signal from its chief Mario Draghi that more rate cuts were unlikely, while Treasuries dropped. Oil prices fell as refinery maintenance threatened to raise record inventories of crude and gold advanced.
The overnight trades are Short ES from 7:33 and Short CL 7:42 European Central Bank (ECB) will announce its policy decision tomorrow morning. Smart Money is optimistic that Draghi can thread the needle between stimulating economy and not hurting the banks with negative interest rates. In addition to the policy statement, the press conference will be
Stocks advanced, buoyed by robust U.S. manufacturing data that boosted investors’ confidence. The dollar rose against the safe-haven yen, while Treasury yields fell as investors remained cautious on global growth worries. Oil jumped on confirmation on March producers meeting and spot gold traded higher. Now we are in open territory to push higher if bulls
A sharp rebound in crude prices coupled with Apple’s gain lifted indexes in choppy trading. Sterling plunged to a seven-year low against the dollar on concerns Britons might vote to leave the European Union in a June referendum. Gold rose, acting as counter against risk and Treasuries ended little changed.
