AUD/USD moves up to test its 100-hour moving average
Of note, the pair is testing resistance from its 100-hour moving average (red line) @ 0.7715, trendline resistance @ 0.7704 and the 23.6 retracement level @ 0.7713.

Latest data released by NFIB – 9 March 2021

OECD presents their latest economic forecasts, outlook
The organisation also raises its 2022 global GDP growth forecast to 4.0% from 3.7% previously in December. The latest outlook projects a significant boost to the US and global economy, helped by Biden’s $1.9 trillion stimulus package.

Latest data released by Eurostast – 9 March 2021
The second estimate report can be found . Looking at the details, household consumption fell by 3% q/q after the revised 14.1% q/q jump in Q3 while government expenditure expanded by another 0.4% q/q after the revised 4.6% q/q jump in Q3 last year.

In other words, they expect a stronger dollar narrative to prevail
The firm is downgrading their view on emerging market (EM) FX for the second time in two weeks, expecting another 4-5% drop given the current market landscape.

Further remarks by BOE governor, Andrew Bailey

WTI down 0.3% to $65.80 levels currently
From the peak earlier today, oil is down by more than $2 now as price hits a stumbling block as the dollar firms and as overall risk sentiment keeps softer in European trading.

Futures marked lower on the tech selloff
With 10-year Treasury yields also creeping above 1.60%, that will keep the market relatively nervous to kick start the trading week.

Remarks by BOE governor, Andrew Bailey
– Toolkit decisions should not be interpreted about signal of future policy path
– Contingency planning for negative rates does not imply it is our chosen policy tool
The headline is pretty much the key takeaway from the latest set of remarks by Bailey, but this keeps with what we have heard

Huge spending bill passes 50-49
The US Senate passed Biden’s $1.9 trillion stimulus package with a number of amendments after a marathon session. The bill now heads back to the House where a vote will be held on Tuesday. It could be signed into law shortly afterwards.