Snapshot of Global markets: USD retained its firmer tone - ANZ

Analysts at ANZ explained that the USD retained its firmer tone in front of the FOMC minutes and relatively benign comments from various Fed officials.

Key Quotes:

"The equity market took solace from Fed comments and upward momentum in the February US Markit PMI (supportive earnings backdrop) – major US indices rose 0.5-0.9%. It was a more mixed performance in Europe due to the slip in February PMIs.

The DAX fell 0.1% and the CAC 40 was up 0.2% and the FTSE rose 0.5% (on a reasonable employment report).

Fixed income was relatively unchanged with yields up 1bp across the curve in the US, but there was flattening pressure in Europe.

Commodity prices were mixed, with oil down (-0.4%), gold was unchanged, but grain prices moving higher."