Sterling has steadied and the outlook has brightened for GBP/USD as the Federal Reserve’s promise of unlimited US Dollar funding continues to help riskier assets such as GBP, AUD and crude oil.
EUR/USD Price: Rally at Risk after Shocking Eurozone PMI Data
The overnight rally in EUR/USD may soon reverse after the latest set of Eurozone sentiment readings missed even the most pessimistic expectations.
Forex Today: Mild Recovery in Stocks – 24 March 2020
Here are the latest Forex and market news around the globe for March 24, 2020.
Crypto Prices Surge, Adding $14B in Value – 24 March 2020
Cryptocurrency prices have surged in the past 24 hours, adding some $14 billion in value to the cryptocurrency markets,
WTI Crude Oil Forecast: Trying to Bounce – 24 March 2020
The West Texas Intermediate Crude Oil market initially fell during the trading session on Monday to kick off the week, as we continue to see a serious lack of demand
AUD/CAD: Breakout Sequence Expected to Continue – 24 March 2020
While the Australian government rushed through to economic stimulus packages worth A$83.6 billion, it will now enter a five-month recess.
UK PMI composite dropped to 37.1, a recession never seen in modern history
<p>UK PMI Manufacturing dropped to 48.0 in March, down from 51.7, hitting a 3-month low. PMI Services dropped from 53.2 to 35.7, a record low. PMI Composite dropped from 53.0 to 37.1, also a record low. Chris Williamson, Chief Business Economist at IHS Markit, said: “The surveys highlight how the COVID-19 outbreak has already dealt
Fed Drops Hydrogen Bomb On Markets, Wounds Dollar
<p>Dollar inches down as Fed goes all out, announces unlimited QE and expands purchase universe Wall Street closes lower, unimpressed by Fed – but set to recover today as Congress moves closer to a deal In broader FX market, the retreating dollar lifts all other boats Fed drops equivalent of hydrogen bomb on markets The […]
BTCUSD $7,000 Key
<p>Bitcoin is staging a major rally during the European trading session, with the number one cryptocurrency moving towards the $6,900 level. Traders should note that a bearish lower weekly high will form if the BTCUSD pair fails to move above the $7,000 level. A breakout above the $7,000 level could see the BTCUSD pair advancing […]
EURUSD 1.1000 Resistance
<p>The euro currency in on the rise against the US dollar as traders continue to sell the greenback after the US Federal Reserve announced an aggressive bond buying scheme. The EURUSD pair could start to target the 1.1000 resistance level if bulls gain traction above the 1.0930 level. Only weakness below the 1.0780 level would […]