Daily Market Bulletin – 30 March 2022
Market Developments
Tuesday's negotiations between Russia and Ukraine created hopes of a peaceful solution and risk-on mood in markets, although optimism seems to wane today as investors process the outcome.
The peace negotiation appeared constructive and one of the main takeaways was Russia's pledge to "drastically reduce military activity" near Ukrainian Capital Kiyv. [1]
Ukrainian Presidnt Zelenskyy talked of "positive" signals, but noted that Ukrainians "are not naive people" [2]. US Pentagon spokesperson Kirby confirmed that "some movement by some Russian units away from Kyiv, but believes this is a "repositioning, not a real withdrawal", adding that "we all should be prepared to watch for a major offensive against other areas of Ukraine".
The Bank of Japan (BoJ) increased the amounts of outright purchases of governments bonds (JGBs), strengthening its efforts to control yields. [4]
On the COvid-19 front, cases remain elevated in mainland China, as authorities announced 1,565 locally transmitted cases for March 29, up from 1,228 in the prior day. [5]
Main Asia-Pacific stock markets traded mostly higher, taking their cues from Wall Street, but European futures are tepid. On the FX space, the JPY Basket rises, the US Dollar slides and Antipodeans (AUD, NZD) advance against the greenback.
Instruments Snapshot
EUR/USD stays on the front foot above 1.1100, after yesterday's 100-pip rally.
GBP/USD is upbeat above 1.3100, following Tuesday's two-way action.
USD/JPY drops for second straight day, but defends 121.50.
USD/CAD remains soft, trading below 1.2500.
AUD/USD extends yesterday's advance, eyeing Monday's 2022 high (0.7541).
NZD/USD gains around 0.5%. also looking towards this year's high (0.6989).
GER30 pauses its four-day profitable streak, breaching 14,800.
US30 consolidates above 35,200.
USOIL trades with positive undertone above 105.50.
XAU/USD finds support and tries to retake 1,925.
Economic Calendar Picks (GMT)
Market participants await US Q4 GDP (12:30), as well as Eurozone's Confidence & Sentiment indicators (09:00). Overnight, focus will shift to China's PMIs (01:00).
See the economic calendar here.
Nikos Tzabouras
Senior Financial Editorial Writer
Nikos Tzabouras is a graduate of the Department of International & European Economic Studies at the Athens University of Economics and Business. With extensive experience in market analysis and a strong foundation in international relations, he brings a unique perspective to financial markets. Nikos emphasizes not only technical analysis but also on fundamentals and the growing influence of geopolitics on financial trends.
As a Senior Financial Editorial Writer, he delivers comprehensive and forward-looking insights across a wide range of asset classes, including equities, commodities, and currencies. His work explores how macroeconomic events, political developments, and global policies impact market dynamics, providing readers with a deeper understanding of both short-term movements and long-term trends.
References
| Retrieved 30 Mar 2022 https://www.youtube.com/watch | |
| Retrieved 30 Mar 2022 https://www.president.gov.ua/en/news/signali-z-peregovoriv-mozhna-nazvati-pozitivnimi-ale-voni-ne-73937 | |
| Retrieved 30 Mar 2022 https://www.boj.or.jp/en/announcements/release_2022/rel220330a.pdf | |
| Retrieved 10 Apr 2026 http://english.www.gov.cn/statecouncil/ministries/202203/30/content_WS6243be50c6d02e5335328757.html |
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.