{"id":782,"date":"2021-03-23T10:48:46","date_gmt":"2021-03-23T13:48:46","guid":{"rendered":"https:\/\/wintrademarkets.com\/news\/?p=782"},"modified":"2021-03-23T10:48:48","modified_gmt":"2021-03-23T13:48:48","slug":"the-fed-remains-on-the-market-radar-today-at-noon-eastern-time-in-the-usa-powell-and-yellen-talk-to-the-us-chamber-aboutefforts-to-support-the-us-economy-during-the-pandemic","status":"publish","type":"post","link":"https:\/\/wintrademarkets.com\/new\/2021\/03\/23\/the-fed-remains-on-the-market-radar-today-at-noon-eastern-time-in-the-usa-powell-and-yellen-talk-to-the-us-chamber-aboutefforts-to-support-the-us-economy-during-the-pandemic\/","title":{"rendered":"The Fed remains on the market radar. Today, at noon ( eastern time ) in the USA, Powell and Yellen talk to the US Chamber aboutefforts to support the US economy during the pandemic."},"content":{"rendered":"\n

Highlights<\/strong><\/p>\n\n\n\n

The Fed remains on the market radar. Today, at noon ( eastern time ) in the USA, Powell and Yellen talk to the US Chamber aboutefforts to support the US economy during the pandemic. At 1:00 pm in the USA, the bond auction begins.US Treasury maturing in 2 years. Although predictable, these events bring high volatility to the EURUSD.Analysts believe in support at the 1.1875 level, which, if broken, could continue to the lowest point reached in2021, from 1.1836. It is possible to reach 1.1800 and up to 1.1750. However, the long-term view points to asset appreciation,being the most significant resistance at this moment at 1.1950 and with a double top at 1.1990 and can be touched already in thenext bullish move.<\/p>\n\n\n\n

The situation of the pandemic, which continues to spread in Europe, added to tensions between the US and China, which include sanctions andembargoes on both sides, are making investors more pessimistic, which favors the USD and pulls the EURUSD pair tolow.<\/p>\n\n\n\n

In today’s session, EURUSD, which opened at 1.1932, sought support at 1.1875. References indicate that EURUSD shouldto reach the level of 1.1900 in the next hours.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

DXY is being traded at 92.1 thousand points. The USDJPY is oscillating close to 108.5. The USDCHF of $ 0.9307. THEgold is trading at $ 1,740 an ounce, and silver at $ 25.6 an ounce<\/p>\n\n\n\n

The main facts observed by investors at the moment are:<\/p>\n\n\n\n

COVID-19<\/strong><\/p>\n\n\n\n

German Chancellor Angela Merkel announced a more severe lockdown during the Easter holiday and aextension of other measures to restrict the movement of people and goods until April 18.\u00a0\u201cWe are now in avery, very serious situation, \u201dsaid Merkel.\u00a0\u201cThe number of cases is increasing exponentially and the beds of therapyare filling up again, \u201dshe said, adding that the number of infections must decrease to allowthat the country’s vaccination campaign starts to take effect.\u00a0Most of France and Italy are also understricter restrictions, delaying the economic recovery of the bloc.\u00a0In addition, vaccinations continue at a steady pacevery slow.\u00a0While India is already vaccinating adults over the age of 45, France will begin at the end ofweek to immunize its population over 75 years of age.<\/p>\n\n\n\n

FISCAL POLICY<\/strong><\/p>\n\n\n\n

Joe Biden is due to present an infrastructure investment plan of around US $ 3 soontrillions – which add to the $ 1.9 trillion package that is already being distributed.\u00a0Additional expenses mean awarmer economy and also a high level of debt.<\/p>\n\n\n\n

MONETARY POLICY<\/strong><\/p>\n\n\n\n

Recent data showed that the ECB bought \u20ac 28 billion in bonds last week, a48% increase over the previous week and the highest weekly value since December 4th.\u00a0During your meetingMarch monetary policy, the ECB said it would conduct emergency bond purchases at a significantly higher pacehigher in the next quarter, with the goal of reducing government bond yields and supporting the recoveryeurozone economic growth.<\/p>\n\n\n\n

MACROECONOMY<\/strong><\/p>\n\n\n\n

The Ministers of Foreign Affairs of China and Russia met this morningdemonstrating an increase in unity between the two countries.\u00a0Ministers rejected criticism of their political systemsauthoritarian and said they were working to promote global progress on issues ranging from changeuntil the COVID-19 pandemic.\u00a0They also accused the US of interference in other countries and consideredresume nuclear deal with Iran. Chinese Minister Wang Yi has strongly criticized the sanctions imposed by the UnionEuropean, Great Britain, Canada and the United States against China human rights abuses.\u00a0The two ministers saidthat no country should try to impose its form of democracy on another: \u201cInterference in the internal affairs of asovereign nation under the excuse of ‘advancing democracy’ is unacceptable \u201d.\u00a0The US accuses China of maintaining moreof 1 million people imprisoned in prison-like re-education camps, where they are forced to reject their culturenative and swearing loyalty to the Communist Party and its leader Xi Jinping.\u00a0Press, foreign governments and activist groupsthey say the abuses, including forced labor and forced birth control, are still going on.\u00a0China andRussia were rivals for the leadership of the communist world during the Cold War, but built a strong relationshipin recent years based on opposition to the US-led liberal order, as well as cooperation onmilitary, technology and trade in natural resources.\u00a0The US relationship with these two countries deteriorated in the weekwhen Biden called the Russian leader Vladimir Putin a murderer.\u00a0Since arriving at the White House in January,Biden has shown great resistance to the Russian government, from which a recent attack may have arisengiant cybernetics, the payment of rewards to Taliban members for killing American soldiers in theAfghanistan, and interference in the electoral process for President of the United States, both in 2020 and in 2016<\/p>\n","protected":false},"excerpt":{"rendered":"

Highlights The Fed remains on the market radar. Today, at noon ( eastern time ) in the USA, Powell and Yellen talk to the US Chamber aboutefforts to support the US economy during the pandemic. At 1:00 pm in the USA, the bond auction begins.US Treasury maturing in 2 years. Although predictable, these events bring […]<\/p>\n","protected":false},"author":2,"featured_media":784,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-782","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-hft"},"_links":{"self":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/782","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/comments?post=782"}],"version-history":[{"count":1,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/782\/revisions"}],"predecessor-version":[{"id":785,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/posts\/782\/revisions\/785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media\/784"}],"wp:attachment":[{"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/media?parent=782"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/categories?post=782"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wintrademarkets.com\/new\/wp-json\/wp\/v2\/tags?post=782"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}