Daily Alert – Thursday 31st March 2022: March and Q1 fizzle out, no drama

Mark NugentDaily Alert, March 2022

Daily Alert – Thursday 31st March 2022: March and Q1 fizzle out, no drama

Good morning.

Tumbleweed blows across the markets as March and Q1 come to an end. Yesterday was risk-off although there were no significant moves in the asset classes that we monitor.

UK GDP beat expectations. US GDP missed expectations. The Biden administration are considering releasing a million barrels per day of oil for “months” in an attempt to lower the price of fuel as that country approaches its “driving season”.

OPEC+ meet later today to discuss production levels. Despite pressure from the US to increase production, OPEC+ seem quite happy with current levels and in any event, it is doubtful they can produce more at this stage in the commodity cycle.

I will be back tomorrow with your Performance Report for March and year-to-date.

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