The US dollar has broken through the key resistance, it failed to cross since March so far. Riskier assets are dipping. Let’s discuss it in detail.
USD: support from the labor data
While the EUR is celebrating lockdown ease and financial aid discussions in the European Commission, the USD is celebrating that continuing jobless claims for the week ending March 16 are now at 21.1mln which is the first decline since the virus hit. That means, businesses are re-starting their operations. Will the USD take that to reverse the bullish spree of the EUR? The resistance of 1.1030 will show.
China's industrial rebound, progress in US fiscal stimulus and other important news in this article.
The market sentiment is mixed as investors weigh US stimulus package against the rising infections and worse-than-expected US unemployment claims. Jump in for fresh analysis of EUR/USD, USD/JPY, S&P 500 and gold!
US Initial jobless claims will be announced on Thursday at 15:30 MT time.