Here are the most important topics that will determine the dynamics of currencies, commodities and stocks on Thursday, April 9. N
Tag - eur
Most of the currency pairs are in a consolidation, waiting for confirmation that the US and Europe are seeing the infections peak already. Oil is waiting as well: at 15:00 MT OPEC+ holds a video conference about the global production cut; if a 10mln bpd cut is agreed, oil will fly!
Middle of the week, no big news, USD slightly up, GBP prone to weakness as the British PM still in ICU
UK Prime Minister was placed in the intensive care. As a result, the British pound plummeted dramatically today.
On the H4, we can see that EUR/USD has found a temporary bottom in the 1.0770 area. The pair is now trading above the former short-term resistance line going down from March highs (1.0835).
The virus situation keeps improving slowly but steadily; nevertheless, investors are still concerned with the larger scope of economic consequences: USD slides down, JPY weak, gold rises.
The coronavirus, the shocking levels of the key economic indicators and the OPEC+ meeting are at the center of this report.
The week starts with weaker JPY and GBP, USD stays strong, gold rises to $1,620, and oil hopes for OPEC+ supply cut resolution.
Global coronavirus cases have surpassed 1 million, US unemployment claims have doubled, oil has soared, and NFP will come out in a few hours. Watch the video and learn more about the market!
USD is almost the only currency showing confidence in Forex on April 2, currencies of developing economies losing ground, WTI oil slightly up from $20
The US and Canada are awaiting the figures for manufacturing PMI for the short-term moves of the USD and the CAD.
The United States is seized by the coronavirus. What does it mean for the USD? What to expect from the upcoming NFP release? Watch the weekly video to find out!