GBP/JPY has formed a higher low, retraced 50% of the February-March decline, closed above 134.40 on Wednesday and is trading above the March high.
Tag - jpy - japanese yen
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
AUD looks stronger, RBA keeps the rate steady. How positive is the picture?
Coronavirus pushes to recession countries one by one. This time it gets to Japan, known as one of the world’s hardest working nation.
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 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
USD/JPY has declined from 111.70 and went into consolidation around 107.50.
The US and Canada are awaiting the figures for manufacturing PMI for the short-term moves of the USD and the CAD.
As today is the last day of the first quarter, let’s look at the performance of the major currency pairs and analyze what may come next for them.