News

PA Market Report: Overview (Feb 28 – Mar 04) & Upcoming Events March’22

priceactionadmin 3 years ago

The whole world is devastated by the ruthless war in Ukraine, but Russia has no intention of backing off. The horrifying missile attacks are taking thousands of Ukrainian civilians’ lives. Every country is tormented by what is going to happen if Russia doesn’t stop and how dreadfully it is impacting the global financial system. Already the world’s oil price is spiking high and the Forex & Gold market has been seeing this conflict’s impact drastically in the first week of March 2022.

Feb 28

Swiss Govt. Adapts EU Sanctions On Russia
The Swiss government on Friday (Mar 4) widened sanctions against Russia in step with further measures imposed by the European Union, tightening exports and financial services to the country over the biggest attack on a European state since WWII.

Mar 01

RBA Rate Statement (Australia)
It’s the primary tool the RBA Reserve Bank Board uses to communicate with investors about monetary policy containing the outcome of interest rates and the economic conditions.

ISM Manufacturing PMI (USA)
The February Manufacturing PMI® registered 58.6 percent, an increase of 1 percentage point from the January reading of 57.6 percent. This figure indicates expansion in the overall economy for the 21st month in a row after a contraction in April and May 2020.

Mar 02

Crude Oil Inventories (USA)
Federal Reserve chair Jerome Powell said he is inclined to support a 25 basis point rate increase at the March policy meeting.

Overnight Rate (Canada)
The Bank of Canada today increased its target for the overnight rate to ½ %, with the Bank Rate at ¾ % and the deposit rate at ½ %.

Employment Rate (USA)
Private sector employment increased by 475,000 jobs from January to February according to the February ADP® National Employment ReportTM.

Mar 03

Fed Chair Powell Testifies (USA)
Federal Reserve Chairman Jerome Powell said that Russia’s invasion of Ukraine was likely to push up inflation, a setback to central bank expectations that price pressures would diminish in the coming months.

ISM Services PMI (USA)
Economic activity in the services sector grew in February for the 21st month in a row — with the Services PMI® registering 56.5 percent — say the nation’s purchasing and supply executives in the latest Services ISM® Report On Business®.

Mar 04

Putin Predicts of Declared War from the War
The Kremlin said on Saturday that the West was behaving like a bandit by cutting economic relations over the conflict in Ukraine but that Russia was far too big to be isolated as the world was much larger than just the United States and Europe.

Unemployment Rate (USA)
Total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8 %, the U.S. Bureau of Labor Statistics reported today.

NATO’s Stoltenberg Foresees Russias’ Disaster
The NATO chief has warned of “more deaths, more suffering and more destruction” amid Russia’s invasion of Ukraine. The alliance has rejected implementing a no-fly zone, as requested by Kyiv.