South African Rand is boosted by risk-on mood
Goldman Sachs claims the ZAR may rise further, if global markets keep rallying. Let’s discuss it in detail.
Tag - usd
Main market movements on August 19
The sentiment is indeed risk-on today! S&P 500 surged to the all-time high, and EUR/USD jumped to levels unseen since May of 2018. Let’s have a closer look.
S&P500 hit an all-time high in the previous session
USD/JPY: The pair is now trading within the cloud. Any decisive movement to the south will lead USD/JPY to exit the Kumo, confirming the bearish scenario.
August 19: the USD stalls
Most currency pairs with the USD are in consolidation currently as the USD has stalled its depreciation spree.
S&P500 in flirt with a new all-time high
ER/JPY: The EUR/JPY pair is now testing the upper level of the cloud. A successful attempt to exit the Kumo will signal a new bullish sentiment.
Weekly US employment data: chances for the USD
The United States will release unemployment claims on August 20, at 15:30 MT time.
USD/CAD: massive sell-off
The pair slumped to levels unseen since January. What’s next?
OPEC is set for a virtual meeting tomorrow
GBP/JPY: the pair is now trading slightly above the Kijun Sen. A failed attempt to move higher will lead GBP/JPY below the Kijun Sen.
How to trade on August 18?
Risk-on is back on the market. The US dollar is dipping down, while riskier currencies and stocks are rising.
August 18: weak USD
The USD is weak against most riskier assets today; gold is at $2,000, WTI oil at $42.5. Watch the video for more levels.
S&P500 attempts last February’s record close
AUD/USD is now poised to test the hurdle at 0.72045
Brexit negotiations will resume this week
GBP/USD is now gyrating the daily pivot point at 1.3308
