Market Quick Take - March 31, 2020
Markets put in a positive session yesterday and managed some stability overnight, though the major US average is still below a key pivot. Today marks the end of month and quarter, an interesting test of how much this recent bounce in equity markets is down to large portfolio rebalancing flows.
FX Update: Nervous stability for USD or another surge?
Last week saw one of the weakest performances for the US dollar in decades, but this move merely retraced a portion of the huge spike in the week prior. The move coincided with a bounce in risk sentiment in global assets and this week sits abridge a huge quarter-end rebalancing and Japanese financial year-end, so it is a pivotal week for all asset markets.