Economic and fundamental developments 31-03-2022 US session
31 Mar 2022 04:17 PM
WTI and Brent crude are suffering large losses as the US is considering releasing 180 million barrels from its strategic petroleum reserve. OPEC+ agrees to lift output by 423,000 barrels per day from May – in line with forecasts.
Equity markets experience relatively low levels of volatility, as European stocks are down slightly, and US shares recover a little.
The US dollar has rebounded following two sessions of heavy losses. EUR/USD, GBP/USD and AUD/USD are in the red.
The US core PCE reading hit 5.4%, up from 5.2% in January. The jobless claims level increased from 197,000 to 202,000, while economists were expecting 188,000.