Price moves above a 1.09507 to 1.09799 area (and 38.2% retracement at 1.09621) The EURUSD has extended to a new session high at 1.09891. In the process, the pair just moved above the 38.2% at 1.09621 (of the move down from the March 9 high) and a swing area from 1.09507 to 1.09799. Stay above the 1.0950
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Risk trades shrug off historic claims number but USD/JPY stays weak
USD/JPY is the thing to watch Stock futures pared some losses after the initial jobless claims report. Maybe they weren't as bad as feared or maybe there were would-be buyers who just wanted to wait until after the day. In any case, US equity futures have cut losses by about 1.3 percentage points to 0.7%.
The USDJPY took out support levels but looks at more downside targets
200 hour MA in the USDJPY is targeted The USDJPY moved through downside targets in what has been a trend like move to the downside. The pair reached a new session low in the current hour at 109.54. The high for the day was in the first hour of trading at 111.268.
Italy's Lombardy regional governor says virus data Wed 'not very good' up by some 2,500
Comment from the regional governor Italy has been reporting a slower pace of infections lately but 2500 new cases today would be a sharp acceleration from 1643 yesterday. It would put total cases in the region at just under 35,000.
US Q4 GDP third reading +2.1% vs +2.1% expected
The third reading on Q4 2019 GDP I don't see anything in the details that changes the trajectory of growth headed into Q1, and all bets are certainly off after the virus. Estimates range as low as -25% q/q annualized.
US February prelim wholesale inventories -0.5% vs -0.2% expected
February 2020 wholesale inventory data: ForexLive
US initial jobless claims surge 3283K vs 1640K estimate
US initial jobless claims for the week of March 21, 2020. California leads the way with a gain of 14,221 with Washington 2nd at 7264K. This is for last week though. The real numbers by states will be announced next week.
US February advance goods trade balance -$59.9B vs -$63.4B expected
February advance goods trade data ForexLive
The JPY is the strongest and the USD is the weakest as NA traders enter
Getting ready for the huge surge in initial claims The JPY is the strongest and the USD is the weakest as the market gears up for what will be a record initial claims report at 8:30 AM ET/1230 GMT. The estimate go all the way up to 4M or so. The average is 1640K but […]
AUD/NZD: Breakout Sequence Awaits Momentum Recovery – 26 March 2020
Australia and New Zealand have announced economic relive packages, while bot central banks announced quantitative easing measures after slashing interest rates to 0.25%.