China saves a rough trading day – North American Session Market Wrap for March 5
Today's North American market session on March 5 was marked by volatility, influenced by the ongoing US-Iran conflict. Safe-haven assets like bonds and gold faced profit-taking, while equity markets saw declines, particularly in Europe. Oil prices surged due to attacks on Gulf oil facilities, but a potential reopening of the Strait of Hormuz by China provided some relief, leading to a late-session rebound. The US dollar remains strong amid the turmoil, with traders anticipating key economic data releases tomorrow, including Non-Farm Payrolls and US Retail Sales.
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