Daily Market Commentary 30th March 2021

The short week of trade due to the Easter celebrations could be volatile and began mixed. US Equities swung from negative back into positive territory, while the USD stabilised. US Bond Yields crept up above 1.70 %, quiet acceptance, put down to the economic recovery? There are some interesting calls by major US banks regarding losses from hedge fund business that will make the finance sector nervous, as markets focus on US Non Farm Payrolls, due out on Good Friday.

The EUR drifted to 1.1770, while the GBP traded above 1.3750, after positive house funding news. The Suez blockage remains yet another resolved challenge, but shows the vulnerabilities of the much afflicted global supply chain, which will have big flow on effects. Trade exposed commodity currencies were stable, with the AUD trading 0.7630, while the NZD regained 0.7000. Look for local growth data and leads into the US employment numbers to guide the markets.