Yesterday, UK jobless claims unexpectedly dropped to 4.9% from 5% in January. The upbeat news encouraged sterling (GBP) to hold above the USD. Today, the Bank of England (BoE) Governor is scheduled to make a statement on the consumer price index. Traders will be watching the intervention from the BoE to see how it will affect the pound.
Elsewhere in Europe, a worrying rebound in coronavirus outbreaks has caused the indices to plunge. The CAC40 fell by 2.09%, the DAX 30 was not so lucky either with a close of 1.55% and the IBEX35 closed at 2.89% after a slight rebound on Tuesday.
In the US, the Nasdaq and the SP&500 continued to fall for the second day in a row. Treasuries maintained a rally that pushed the 10-year yield to its lowest level in five weeks. Today, the Bank of Canada will announce its decision on the interest rate so investors should be keeping an eye on the Canadian dollar.
A new COVID19 rally in Asia worries investors as rumors of further confinements increase, especially on the Asian continent. The Nikkei 225, at the time of writing, was showing losses of 1.95%.
In commodities, oil prices retreated a little. Traders who trade this asset should keep an eye on the EIA data on crude stocks today. However, gold consolidated a slight rise of 0.2% to $1,781.81 per ounce.
It looks like today’s trading session will continue to be favorable for the bears, but they will have to wait and see how Wednesday’s trading session unfolds. If you are planning to place your trades today, take advantage of the Traders Trust 200% Deposit and maximize your trading potential with your deposit tripled.