Economic and fundamental developments 30-03-2022 US session
30 Mar 2022 04:56 PM
Stock markets in Europe are suffering large losses as there are doubts over Russia’s commitment to scaling down military action in certain areas of Ukraine. The DAX is down over 1%. US indices are a little lower too.
Gold and silver have rebounded from yesterday’s sharp declines. The sell-off in European equities has pushed up demand for the metals.
The US ADP employment report showed that 455,000 jobs were added in March, slightly above the 450,000 forecast. The February update was revised higher to 486,000 from 475,000. The US dollar is weaker despite the well-received data.
The EIA report will be published later, and economists are anticipating that US oil inventories will fall by 2 million barrels. Brent crude and WTI have recovered from yesterday’s losses.