Economic and fundamental developments 21-02-2022 US session

21 Feb 2022 05:37 PM
  • The euro pared its gains against the US dollar as economic data showed an unexpected slowdown in the manufacturing sector. The sector`s PMI fell from 58.7 to 58.4, against expectations of a rise to 58.9.
  • Oil prices reduced their losses in the late Asian session today, as brent crude oil trading near $94. Markets are awaiting any developments regarding Russian-Ukrainian geopolitical tensions.
  • US stock indices contracts fell, following European stocks indices tracks, despite the US President's approval of the "principle" of a summit between America and Russia. This summit is linked to Russia's lack of military action.
  • US banks are closed today in celebration of Presidential Day, while the dollar index, which measures the performance of the green currency against a basket of major currencies, traded lower. The British Pound remained higher above $1.36 after the better-than-expected PMI data.


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