Investing.com - Here are the top five things you need to know in financial markets on Tuesday, March 22:
1. Brussels airport, metro stations rocked by explosions
Explosions tore through the departure hall of Brussels airport on Tuesday morning killing up to 10 people and injuring 30 others and a second blast struck a metro station in the capital shortly afterwards, the Belgian public broadcaster RTBF said.
The blasts at the airport and metro station occurred four days after the arrest in Brussels of a suspected participant in November militant attacks in Paris that killed 130 people.
2. Brussels terror attack sparks risk aversion
Safe-haven assets such as the yen, gold and German government debt all rose to the day’s highs on Tuesday, while European stocks fell to a session low, as a series of explosions in Brussels sparked a wave of risk aversion.
3. Oil prices flip between gains and losses
Oil prices flipped between small gains and losses on Tuesday, as market players looked ahead to fresh weekly information on U.S. stockpiles of crude and refined products.
The American Petroleum Institute will release its inventories report later in the day, while Wednesday’s government report could show crude stockpiles rose by 3.0 million barrels in the week ended March 18.
U.S. crude inched up 4 cents, or 0.1%, to $41.56, by 10:00GMT, or 6:00AM ET, while Brent tacked on 7 cents, or 0.17%, at $41.61 a barrel.
4. Euro zone private sector activity improves in March
Euro zone business activity improved to a three-month high in March, surveys showed on Tuesday, suggesting extra stimulus from the European Central Bank may already be having a positive effect.
Markit's flash composite Purchasing Managers' Index, regarded as a good growth indicator, jumped to 53.7 this month from February's 53.0, which was the lowest reading since the start of 2015.
5. Markets look ahead to more Fed speakers
The market will be paying attention to a pair of FOMC member speeches on Tuesday to further judge the balance of opinion among policymakers on the prospect of further rate hikes.
Chicago Fed President Charles Evans is scheduled to speak in the afternoon on economic conditions and monetary policy, while Philadelphia Fed President Patrick Harker is due to speak in the evening on growth and the role of economic policies.
Both San Francisco Fed President John Williams and Atlanta Fed President Dennis Lockhart said in separate news reports on Monday that a rate hike could come as early as next month. Neither are voting members of the Federal Open Market Committee.