Market Commentary: Thursday 20th March

Asian and US stocks rose overnight, with the Fed signaling room to cut interest rates later this year.

Trump is pushing for a sooner cut, posting on his Truth Social:
"The Fed would be MUCH better off CUTTING RATES as U.S. tariffs start to weave (gently!) into the economy. Do the right thing. April 2nd is Liberation Day in America!!!"

TRY has generally stabilized after a volatile day yesterday amidst political turmoil.

Bloomberg's USD gauge is at its lowest since November, and the Fed's commentary is likely to feed into dollar weakness moving forward.

Copper climbed above $10,000 due to the threat of higher tariffs.

Later today, the BOE is forecasted to leave interest rates unchanged, while the SNB is likely to cut by 25 basis points.

Crude oil rose 0.6% to $67.58 a barrel.

Currencies were little changed overnight, with crypto mixed.

Bitcoin rose 0.4% to $85,687.57.

Ether fell 1.2% to $2,009.87.

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