U.S. stock futures advanced after the release of the March CPI report, which the White House had warned could show “extraordinarily elevated” inflation.
EUROPEAN MIDDAY BRIEFING - Stocks Fall Ahead of -3- morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
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By Karen Langley and Joe Wallace U.S. stocks surged Friday, ending a wild week during which investors continued to rotate out of big technology shares and into the cyclical sectors that tend to thrive in a recovering economy. The S&P 500 rose 0.8% for the week, as advances by the energy, financial and industrial sectors offset declines in the technology and consumer discretionary groups. The tech-heavy Nasdaq Composite, meanwhile, declined 2.1% its third consecutive week losing ground. The index is down 8.3% from its Feb. 12 high. The Dow Jones Industrial Average, which is less oriented toward fast-growing technology stocks, advanced 1.8%.
Powell Confirms Fed to Maintain Easy-Money Policies Until Economy Recovers—2nd Update morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
3/4/2021 9:16:44 AM GMT | By Pablo Piovano
EUR/USD sheds further ground and looks to 1.2000.
The rebound in the greenback weighs on the pair.
Fed’s Powell will take centre stage later in the NA session.
The selling pressure around the European currency extends for another session and drags
EUR/USD to new daily lows in the 1.2030 region.
EUR/USD risks a move to 1.2000
EUR/USD loses ground for the second session in a row on the back of the persistent upside momentum surrounding the greenback.
In fact, the reflation/vaccine trade appears to have lost traction as a major driver for the risk complex. Indeed, the slow pace in the vaccine rollout in the Old Continent (vs. the US) threatens to cool down expectations of a strong economic recovery in the region.