Gold and Bitcoin Rise, Fed is Eyed
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
Market outlook on May 19
How did Merkel push EUR up? What company will first make a vaccine? How long will oil rise? You’ll find all answers in the article!
Angela Merkel switched sides
Germany and France made a deal to fund $546 billion to support members of the European Union, that’ve been hit hardest amid the coronavirus. It was a surprise as only recently Germany made a decision that the EU's mass bond-buying violates the German constitution. It was a clear message that Germany doesn’t want to spend more money to support poor EU members. And now, Angela Merkel breaks the German taboo and lend money to the EU. Why? Is it the fight for the European idea? Anyway, everyone seems happy now except Austria, Netherlands and Denmark. As a result, EUR climbed on optimistic news.
Let’s look at some technical levels. If the price crosses the resistance line at 1.098, it can go even higher and reach 1.114. Otherwise, it goes down to the support line at 1.084, and after it may dip down to 1.0775.
Moderna Inc’s can save the world
The American biotech company Moderna revealed positive results on testing. The small group of volunteers managed to produce protective antibodies, what is definitely a good sign. Let’s wait for future tests and fingers crossed! Yesterday the stock jumped and almost reached $86. However, today it’s moving down.
Oil prices continue growing up
The vaccine optimism turned the market into the risk-on mode. The oil price formed a steady upward trend. It’s a result of a reduced supply and a boosted demand. The WTI price is headed to $35 a barrel. Support are at 23 and 20.
Stocks gain
An overall positive mood pushed the stocks indexes up. Just look at it! On Wall Street overnight, the S&P 500 gained 3.15%. The Dow Jones Industrial Average rose 3.85% and the Nasdaq Composite added 2.44%. Very promising!
Similar
Hong Kong Index and Gold Dropped, Tesla Reported Strong Earnings
Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Friday Trades: EUR/USD, USD/JPY, and Gold
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Latest news
Trade ideas for August 2-6
What events to follow and how to trade during the week of July 2-6?
EUR/USD is Ready for Reverse, Amazon's Poor Results
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
Weak USD, Gold and China's Stocks Recover
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
Deposit with your local payment systems
