Top daily news
Global stocks are trading mostly up currently ahead of two-day Federal Reserve policy meeting starting today. Wall Street ended higher on Monday as bank contagion fears eased amid reports US officials were looking at ways to temporarily expand Federal Deposit Insurance Corp coverage to all deposits. Microsoft shares dropped 2.58%, Amazon shares lost 1.25% on Monday underperforming market as CEO Andy Jassy said Amazon will lay off 9,000 more employees in the coming weeks.
Forex news
The Dollar weakening has reversed 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, lost 0.3% on Monday.
GBP/USD and EUR/USD accelerated their climbing on Monday despite Eurostat report euro area trade deficit rose sharply in January. Both Pound and euro are lower against the dollar currently. USD/JPY slowed its retreating while AUD/USD slowed its climbing yesterday with both the yen and Australian dollar lower against the Greenback currently.
Stock Market news
Futures on three main US stock indexes are up currently with the yield on benchmark 10-year Treasury notes down at 3.562%. US stocks closed higher on Monday, with three main stock benchmarks recording daily gains in the range from 0.4% to 1.2% after major central banks engaged in a series of coordinated currency swaps to ensure banks have the dollars needed to operate. Investors are watching carefully what policymakers will do at Fed’s policy meeting concluding tomorrow with Fed funds futures implying about a 1-in-4 chance the Fed will pause on Wednesday, according to CME's FedWatch tool.
European stock indexes futures are higher currently after closing up Monday with mining shares leading gains. Asian indexes futures are rising today with Japan’s Nikkei index leading gains as regulators in Europe and Britain reassured investors that the wipeout of "additional tier 1" Credit Suisse bondholders in the Swiss government-backed buyout of Credit Suisse by UBS would not set a precedent.
Commodity Market news
Brent is edging lower currently. Prices recovered on Monday as Wall Street posted gains. Also, there were reports Group of Seven Nations are not likely to revise a $60 per barrel price cap on Russian oil this week. US West Texas Intermediate WTI rose 1.3% but is lower currently. Brent added 1.1% to $73.79 a barrel on Monday.
Gold Market News
Gold prices are edging lower currently . Spot gold slid 0.5% to $1978.50 an ounce on Monday.