War-end optimism boosts markets higher, focus now on key US data
Global markets began the brand-new month and quarter on a positive note, buoyed by improving sentiment following statements from U.S. President Donald Trump that the ongoing conflict with Iran could end within two to three weeks. Iranian President Masoud Pezeshkian also expressed willingness to end the war if security guarantees are assured.
The world markets right now
US stock futures and precious metals extended their rebound on Wednesday morning. In the currency markets, the US Dollar Index, which measures the greenback’s value against a basket of currencies, weakened against most major currencies. Crude oil futures continued to decline amid hopes for a potential ceasefire in the Middle East. Meanwhile, Bitcoin attempted a rebound above $69,000 early Wednesday after holding support at $65,000 during the first half of the week, though gains remain limited.
The euro and British pound climbed to fresh weekly highs against the USD, but upside momentum appears constrained as traders remain cautious, awaiting fresh economic data and geopolitical developments before making new directional bets. On the corporate front, Nike’s stock plunged more than 10% in premarket trading after the company warned of a challenging outlook despite surpassing third-quarter expectations.
Looking ahead: An eventful New York trading session
Traders and investors are waiting to see how the markets will end on the first trading day of April. Attention now shifts to a series of key economic releases scheduled for later today, including the ADP employment change, US retail sales, and ISM manufacturing PMI data. Market participants hope these figures will provide insight into the Federal Reserve’s monetary policy trajectory.
Attention will also focus on multiple Federal Reserve officials scheduled to speak later today, as markets look for any shifts in monetary policy stance ahead of Friday’s crucial US employment report. Meanwhile, geopolitical developments remain in focus, with President Trump scheduled to address the nation at 9 PM ET on Wednesday to provide an update on the situation with Iran.
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