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Pandemic numbers weighed sentiment lower amid worsening figures in the US and Europe while FOMC Meeting Minutes from March 15 most is likely to pass unnoticed, FXStreet’s Chief Analyst Valeria Bednarik briefs.

Key quotes

“Hopes that the world´s pandemic may be starting to recede have diminished, as the number of new cases and the death toll, both rose in some European countries. The US recorded over 1,800 fatalities in the last 24 hours, the highest death toll in a single day.”

“Japan released February data, which was generally encouraging, although unable to affect the price. Machinery Orders were up in the month by 2.3% while, when compared to a year earlier, decreased by 2.4%. The Current Account Balance for the same month posted a larger than expected surplus of ¥3168.8 B.”

“The US session will bring the Minutes of the FOMC Meeting from March 15. Chances that they have an effect on the market are quite limited, given that things are moving too fast these days and the central bank has announced unlimited QE after that particular meeting.”