Market Updates at a Glance: 14 March 2022 (Monday)🌎

Market Updates at a Glance: 14 March 2022 (Monday)🌎

☛A Dampened Market Sentiment Spurred Demand for USD. FOMC in Focus.

➤US stocks ended slightly lower with Dow -0.69%, S&P 500 -1.30% & Nasdaq -2.18%. U.S Consumer Sentiment tumbled, near 11-year low as market worries about inflation , soaring oil prices, Fed tightening, and Russia-Ukraine war.

☛SY’s view:
-my bias remains bearish but concerned that the current weakness could end at any time.
-FOMC is in focus.
-Chart Pattern-Falling wedges in the S&P 500 futures- is a potential reversal pattern unless it drops below 4060.

➤The US dollar index surged to 99.12 with the 10-year Treasury yield hovering around 2% on Friday and is jumping to 2.05% as of writing.

➤GBP extended lower to 1.3038 (a new low) while EUR fell toward 1.0912.

➤Gold dropped slightly below 5-day Moving average, $1988, and continue lower to $1978 at this point.

➤Oil (Brent) hovering between 5-day& 20-day Moving average, $110 at this point. U.S. is reaching out to oil-rich nations in middle east & countries under U.S sanctions after ban on Russia Energy.

☛Upcoming high impacts events/news (GMT+8):
U.S Retail Sales m/m-16/3 8.30pm
FOMC-17/3 2.30pm

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