
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
The week is over and now it is time to underline how successful it was. Below we gathered the best and the worst performers of the week and the most volatile pairs .
Among the best performers, we can mention USD/MXN and USD/CNH. While the first pair has managed to gain around 2000 pips in a week recovering from the losses of September 2018, the USD/CNH showed a solid gain of more than 700 pips. Of course, the weakening of the Chinese yuan is strictly connected with the fears surrounding coronavirus in China.
Among major currency pairs, we can name USD/CAD as the strong performer during this week. The pair rose on the weaker oil prices above the 200-week SMA and tested the 100-week SMA at 1.3160. The pair has strengthened by more than 100 pips.
The worst performers, of course, were the pairs with the JPY as a quote currency. This is due the risk-off sentiment, which traders to invest in the safe-haven assets. Here we can mention USD/JPY. The pair went down from 110.07 to 109.27 after the previous two weeks of gains.
Also among the losers we can name AUD/USD and EUR/USD. Both pair have been having tough weeks.
The award for the most volatile currency pair goes to USD/ZAR. On the daily chart, the pair could not stick above the 50-day SMA after the test of 200-day SMA at 14.5660 and fell towards the 14.3050 level. However, bulls did not give up their attempts to push the pair higher, as a result the pair has retested 14.47 on Friday.
GBP/USD also showed a mixed performance between the support at 1.3 and the resistance at 1.3175.
What changes will we see during the upcoming week? Let’s wait and see. All you need to do is follow our news and
Last week, there were sharp swings in USDJPY, a decline in oil prices, and a surge in Tesla stock. What's next?
Geopolitical factors and inflation remain the main drivers of financial markets. Let’s see how to use that in trading!
Last week was super intense! Geopolitical turbulence made the Russian ruble the most volatile currency. Gold rose and fell by more than 8000 points each time.
The Australian Bureau of Statistics will announce the updated Unemployment Rate and Employment Change data on Thursday, May 19, at 04:30 MT.
The UK Office for National Statistics will publish Consumer Price Index (CPI) data on Wednesday, May 18, at 09:00 MT.
The US Census Bureau will announce Core Retail Sales and Retail Sales on Tuesday, May 17 at 15:30 MT.
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