Markets rangebound amid a lack of data

The U.S. dollar was range bound against most majors in a relatively quiet NY session. With a lack of fresh economic data and ahead of key central bank meetings later this week, markets were trading sideways. Fed speak continued with Atlanta Fed President Dennis Lockhart and Chicago Fed President Charles Evans. Lockhart, a non-voting member this year, noted that while the recovery is well established, it faces numerous headwinds. FOMC voting member Evans indicated that the economy continues to improve however unemployment is unlikely to come down very quickly. He also mentioned that the planned $600 billion in additional asset purchases is likely to be an ‘adequate’ amount.

U.S. stock markets were trading sideways and finished the day slightly higher with the Dow Jones Industrial Average finishing the day up by about +0.19% while the S&P closed marginally higher by around +0.03%. Commodities were firmer with gold gaining by around +0.30%, silver outperformed and advanced by about +1.82%, and oil climbed higher by around +0.51%. U.S. 10-year Treasury yields shed about 2bps to around 3.42%.

On the data front for the upcoming Asia/Pacific session is Australia’s March AiG performance of service index, February trade balance, and the RBA will announce interest rates. Fed Chairman Ben Bernanke is scheduled to speak tonight on clearing houses and stability.

Источник: Forex.com

04.04.2011