Economic and fundamental developments 30-03-2022

30 Mar 2022 11:58 AM

Asian stock indices rose today, similar to US indices' performance yesterday, after hopes that Russia and Ukraine will reach diplomatic solutions.
Gold prices witnessed sharp fluctuations, as they fell yesterday below the $1900 barrier due to hopes of solutions to the Russian-Ukrainian crisis. However, the precious metal price rebounded today during the Asian session, accompanied by a decline in US bond yields.
Although oil prices fell sharply yesterday on news of Russia reducing its military operations near Kyiv, they rose again amid fears of more sanctions against Russia and supply shortages. The American Petroleum Institute showed that inventories fell by 3 million barrels last week.
The US dollar fell against a basket of major currencies as the EURUSD pair was trading at $1.11, and the pound rose to $1.31. Today, markets are awaiting the release of the ADP Employment Index in the US private sector.

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