Markets have really quietened down in the last week. It is tempting to point to the upcoming Easter holidays, but it seems to be a bit early for that. Instead, I think the issue is there is a feeling of “what now “for market trends.
I don’t really feel like anyone is in a rush to buy anything at the moment after some of the best-laid plans have gone incredibly sideways, thanks to the latest COVID shocker.
Despite record equity inflows, has failed to do much and has instead settled into a choppy range.
Traders are now saying that the reds are going nowhere for the next six months. Now obviously, options trading is not the only thing that matters in fixed income, but if the market decides that short end rates have gone far enough, for now, it does tend to support the range trade idea.
EUR Downtrend Intact
Strong European manufacturing PMIs on Wednesday had a limited impact on the EUR as vaccine drag and third-wave fears prevailed. There has been fairly little interest in the cash market last 48 hours. While the downtrend has been fairly steady, it is not running away but closed well below the 200-day moving average and is printing lower lows and lower highs.
Crude Oil Rebound Stalls
Some pretty intense whipsawing in crude prices, but I think it’s fair to say it’s all about the short term phenomena regarding the Suez Canal blockage
Still, the rebound in crude has stalled. Negative covid-19 news, with infections on the rise in Europe, Brazil and India, has led to renewed concerns about demand
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