The dollar is still keeping lower in European morning trade See here for global coronavirus case data There isn't much change to the market theme to start the week as risk-on vibes are leading the greenback lower, and that is staying the course in European trading so far.
Blogs
Gold sits a little softer on the day but buyers maintain near-term control for now
Central bank decisions this week will be the key risk factor for gold See here for global coronavirus case data Gold is down by around 0.5% currently, just under $1,721 as price action remains a bit more choppy over the last few sessions after having tested resistance around $1,738.70.
Cable buyers more upbeat, but nears a test of daily trendline resistance
Cable is trading back above both its key hourly moving averages See here for global coronavirus case data And that is seeing buyers keep a more bullish near-term bias in the pair, as the dollar starts off the week on a softer note. As such, the momentum now shifts towards siding with cable buyers on […]
EUR/USD climbs on weaker dollar, buyers seek more bullish near-term break
EUR/USD is testing the 200-hour moving average currently See here for global coronavirus case data After being dragged to a fresh one-month low towards the end of last week, the pair rebounded on the back of dollar weakness and that is continuing to be the case today.
AUD/USD climbs to more than six-week high on softer dollar to start the week
AUD/USD hits a high of 0.6454, the highest level since 12 March See here for global coronavirus case data Price is now testing daily resistance from the 14 April high @ 0.6445 as well as the 61.8 retracement level of the swing move lower since the start of the year @ 0.6451.
Goldman Sachs technical analysis looking for USD top
Via GS on the US dollar index See here for global coronavirus case data
Another warning of EUR/USD moving to parity – technical analysis
Bank of America note on the euro, says EUR/USD parity is a technical risk: – says the pair is coiling into a tight range – a bearish continuation pattern, – should sell into rallies (BoA note late last week)
FX option expiries for Monday April 27 at the 10am NY cut
EUR/USD USD/JPY EUR/GBP See here for global coronavirus case data
Fed expands scope and duration of Municipal Liquidity Facility
The Federal Reserve has expanded the scope and duration of its Municipal Liquidity Facility Headlines via Reuters – bolding is mine, this is extra liquidity added by the Fed. That is, further monetary support.
New Zealand – Westpac expect the RBNZ will cut the cash rate to -0.5% late 2020
RBNZ Gov Orr has said previously he did not rule out negative rates. Even more interestingly: NZD seeing a little selling on this Westpac forecast.