Market Updates at a Glance: 16 March 2022 (Wednesday)🌎

☛U.S stock Face Whipsaw Risk with Potential Headwinds from FOMC & OPEX.

➤US stocks rallied with Dow +1.82%, S&P 500 +2.14% & Nasdaq +2.92%. U.S February PPI (Producer Price Index) increased+0.8% (actual) vs. +1.0% (estimate), rose 10% annually. PPI serves as a leading indicator for the CPI.

☛SY's view:
-S&P 500 is still below the neckline of the head & shoulders.
-FOMC & OPEX (monthly option expiry) in focus.

➤The US dollar index edged lower to near 99 despite the yield on 10-year Treasury climbed to 2.14%.

➤GBP rebounded slightly above 1.3040. EUR edged higher to 1.0952.

➤Gold dipped to $1916, slightly below Fib 38.2% level $1920, as FOMC meeting begins.

➤Oil (Brent) extended the losses to $98.64, near 50-day Moving Average 95.70.

☛Upcoming high impacts events/news (GMT+8):
FOMC-17/3 2.30pm
OPEX-18/3

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