Trading cautious after yields pause - 9.3.2021

The Dollar strengthening has paused currently . The live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, added 0.5% Monday.

Both EUR/USD and GBP/USD continued sliding Monday as German federal statistics bureau Destatis reported production in industry fell 2.5% over month in January. Both euro and Pound are higher currently against the Dollar. AUD/USD continued its sliding as USD/JPY accelerated its climbing yesterday with yen lower against the greenback currently while Australian dollar has reversed up.

Futures on three main US stock indexes are higher currently after a mixed trading Monday as get-out and non-stay at home stocks outperformed tech stocks on hopes the $1.9 trillion relief Bill will boost the US economy. The three US main stock benchmarks ended mixed Monday recording returns ranging from -2.4% to +0.97% as Nasdaq entered correction territory with 10% fall from February record close.

European stock indexes are down currently after ending higher yesterday led by bank stocks. Asian indexes are mixed today with Nikkei leading gains despite Japan downgrading its fourth-quarter GDP as companies scale back spending.