EUR/USD nudges to a high of 1.0882 amid some mild softness in the dollar ForexLive The dollar has eased a tiny bit to start the session with EUR/USD moving to a session high of 1.0882 but is only up by around 0.2% on the day currently.
Blogs
Tokyo reportedly to see highest daily jump in coronavirus cases today of more than 180 cases
NHK reports that Tokyo has more than 180 new coronavirus cases today yesterday's jump of 144 cases This highlights that the virus trajectory in Japan is likely still going to pick up even more before it gets better, as the state of emergency declaration was only announced this week.
Equities keep a better mood to start the session
US futures extend gains to over 1% on the day now ForexLive That may be the reason why the dollar was nudged a little lower but there really isn't much significant movement in the currencies space just yet today.
Major currencies not doing a whole lot to start European morning trade
Narrow changes across the board so far today ForexLive Most pairs are observing a <0.1% change against the dollar on the day, with USD/JPY trading in a 24 pips range so far. Price action continues to hint at tepid tones ahead of key risk events coming up later in the day:
Spain prime minister: Virus data is encouraging, we are close to beginning of decline
Comments by Spain prime minister, Pedro Sánchez – Says 'the fire is starting to come under control' ForexLive Well, the consistency in the single digit percentage increase in cases is certainly encouraging but the case load remaining in the thousands definitely is not:
Russia may cut up 2 mil bpd maximum under any global oil pact – sources
Reuters reports, citing two Russian sources on the matter story That adds to the positivity in terms of the willingness of OPEC+ and other producers to achieve a greater total of output cuts but I reckon whatever the number will still fall way short of addressing the global supply glut in the market.
USDJPY still awaits a shove
Price chopping above and below the 100 hour and 100 day MAs The USDJPY is still awaiting a shove away from the 100 hour and 100 day MAs. The price has been chopping above and below those MAs this week.
EURUSD remains confined by MA levels
100 hour MA below and 200 hour MA below The EURUSD remains confined between the 100 hour moving average below it 1.08407 and the 200 hour moving average above the 1.0899. The current price is trading close to the top at 1.0886 and near the high for the day at 1.08887.
Fed unleashes plan for $2.3 trillion in lending programs
Fed unleashes new plan The Fed will provide up to $2.3 trillion in loans in a handful of new programs. Full announcement: These are huge programs and the Fed is bending the law to buy things it otherwise couldn't because it's putting
US PPI final demand YoY 0.7% versus 0.5% estimate
US PPI final demand – PPI final demand MoM -0.2% versus -0.4% estimate – PPI ex food and energy MoM +0.2% versus 0.0% estimate – PPI ex food and energy, trade MoM -0.2% versus +0.0% estimate ForexLive