Market Updates at a Glance: 21 March 2022 (Monday)

☛Max Pain Rally on OPEX (Option Expiry) day. Is it Sustainable?

➤US stocks continued to rebound on Friday with the biggest weekly gains since Nov 2020. 
About the OPEX day, with so much net in the money put premium, there was a lucrative financial incentive for market makers to drive the stock prices higher last Friday. I will monitor for another few days to see if is sustainable.

➤The US dollar index ended lower at 98.24, the first weekly loss in the past 6 weeks. The 10-year treasury yields edged higher to 2.155%.

➤USDJPY made a new high since 2016, near 119.16.

➤GBPUSD recovered to 1.317, the first weekly gain in the past 4 weeks for GBP. EURUSD ended a 5-week decline & rallied to 1.1051.

➤Gold slipped to $1920 despite the flattening US Treasury yield curve. 

➤Oil ended the week lower despite the two days of consecutive gains & still increasing as of writing, now trading near to $110.34.

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