something interesting

<  BACK TO Market Analysis

Forex Today: EUR, JPY in the lead after Senate's stamp, ahead of horrible US jobless claims, BOE

Forex_today_EUR_JPY_in-the-lead_FXPIG

Here is what you need to know on Thursday, March 26:

The US Senate finally passed the $2 trillion stimulus bill to mitigate the impact of coronavirus, and the House will soon take it. However, the market's enthusiasm has faded away. The move is partly a "buy the rumor, sell the fact" reaction but also the details of the package, which include a significant chunk of loans rather than grants.

The euro and yen are – whose economies have current account surpluses  – are gaining ground against the greenback while the dollar is beating the pound and commodity currencies. The present action in money is a break from the "dollar vs. everything" trade that has been seen earlier as there seems to be no distress.

Coronavirus has taken the lives of over 21,000 and has infected around 470,000. Spain suffered its grimmest day with 738 deaths, while the signs of "flattening the curve" are seen in Italy, where the number of new infections has stabilized. US cases near 70,000, yet New York City is somewhat optimistic. The Japanese government is considering adding restrictions amid an increase in cases.

The focus today is US weekly Unemployment Claims, which may soar to 1.5 million and perhaps higher. Lockdowns have triggered massive layoffs. Some estimate the figure could be north of three million.

The US also releases final Gross Domestic Product figures for the fourth quarter of 2019 – pre-crisis levels. Economists foresee a deep recession due to Covid-19. Jerome Powell, Chairman of the Federal Reserve, is scheduled to give an interview ahead of the data. The Fed stunned markets on Monday by announcing an open-ended Quantitative Easing (QE) program.

GBP/USD trading has been extremely volatile, and the Bank of England's third rate decision in as many weeks may trigger additional ups and downs. The BOE may introduce more QE or loans but is unlikely to cut its rates.

The European Central Bank is considering dusting off its old Outright Monetary Transactions (OMT) program that allows it to buy unlimited government bonds from specific countries, providing another boost to their economies.

On the other hand, Germany and the Netherlands are reportedly opposed to issuing common European bonds, dubbed "corona-bonds." EU leaders will hold a videoconference later in the day. The news follows a letter by nine countries, including France, Italy, and Spain, demanding to share the debt burden.

Gold is consolidating around $1,600, looking for a new direction. Oil is on the back foot, with WTI hovering around $24.

Cryptocurrencies have been edging lower, with Bitcoin trading around $6,600.

Source: fxstreet

Here is what you need to know on Thursday, March 26:

The US Senate finally passed the $2 trillion stimulus bill to mitigate the impact of coronavirus, and the House will soon take it. However, the market's enthusiasm has faded away. The move is partly a "buy the rumor, sell the fact" reaction but also the details of the package, which include a significant chunk of loans rather than grants.

The euro and yen are – whose economies have current account surpluses  – are gaining ground against the greenback while the dollar is beating the pound and commodity currencies. The present action in money is a break from the "dollar vs. everything" trade that has been seen earlier as there seems to be no distress.

Coronavirus has taken the lives of over 21,000 and has infected around 470,000. Spain suffered its grimmest day with 738 deaths, while the signs of "flattening the curve" are seen in Italy, where the number of new infections has stabilized. US cases near 70,000, yet New York City is somewhat optimistic. The Japanese government is considering adding restrictions amid an increase in cases.

The focus today is US weekly Unemployment Claims, which may soar to 1.5 million and perhaps higher. Lockdowns have triggered massive layoffs. Some estimate the figure could be north of three million.

The US also releases final Gross Domestic Product figures for the fourth quarter of 2019 – pre-crisis levels. Economists foresee a deep recession due to Covid-19. Jerome Powell, Chairman of the Federal Reserve, is scheduled to give an interview ahead of the data. The Fed stunned markets on Monday by announcing an open-ended Quantitative Easing (QE) program.

GBP/USD trading has been extremely volatile, and the Bank of England's third rate decision in as many weeks may trigger additional ups and downs. The BOE may introduce more QE or loans but is unlikely to cut its rates.

The European Central Bank is considering dusting off its old Outright Monetary Transactions (OMT) program that allows it to buy unlimited government bonds from specific countries, providing another boost to their economies.

On the other hand, Germany and the Netherlands are reportedly opposed to issuing common European bonds, dubbed "corona-bonds." EU leaders will hold a videoconference later in the day. The news follows a letter by nine countries, including France, Italy, and Spain, demanding to share the debt burden.

Gold is consolidating around $1,600, looking for a new direction. Oil is on the back foot, with WTI hovering around $24.

Cryptocurrencies have been edging lower, with Bitcoin trading around $6,600.

Source: fxstreet

lastest Articles

Market Analysis
Forex Week Ahead – The final stretch
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: 50-DMA at $1924 is the level to beat for the bulls
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Fundamental reality disagrees with recent gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Foreign intervention in US elections weighs on mood, jobless claims, politics eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Overbought, so what? Stimulus hopes blind investors' eyes (for now)
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Markets cheer hopes of US stimulus deal, election polls in focus
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold flirts with the $1,900 level in anticipation of news on the fiscal front
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: Bulls are in control and eye 1.1795
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar retreats on fresh stimulus hopes, Brexit and coronavirus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Time running out for Trump
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Dead cat bounce could provide sell opportunity, euro faces three headwinds
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates amid stimulus and Brexit uncertainty, ahead of US retail sales
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar finds its feet amid stalled stimulus talks, ahead of US data, EU Summit
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar’s haven demand back in vogue amid stimulus delay, vaccine trial pause
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD Price Forecast: Cautious ahead of key week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Analysis: Three factors why BTC is going to surge
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Yuan slumps on China’s policy move, coronavirus risk downs euro amid light trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Risk events galore
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD: One more possibility around year-end for testing of 1.20 – Danske Bank
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold looks to the upside ahead of Powell’s speech
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Cautious mood and “sell the fact” after Trump's discharge, stimulus news eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Markets hate uncertainty
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro attacks strong resistance, why this could be a fakeout
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: High hopes for US fiscal stimulus boost sentiment, NFP hints eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar rises after an ugly presidential debate, US data, end-of-month flows eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD now looks to 1.1800 and above – UOB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500: Three critical policy disappointments behind the correction – Morgan Stanley
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin's mass adoption passes the point of no return
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar declines on hopes for a US fiscal deal, ahead of presidential debate
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
US Elections: A decisive Democratic victory to hit the USD – Nordea
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Bearish pressures mounting
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar bulls take a breather amid an upbeat start to a Big week
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Let the debates begin!
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Prediction: BTC slips into “Buy the Dip” Zone
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Eyes on August lows of $1863 ahead of US PMIs and round two Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar’s haven demand in vogue ahead of a busy day
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold remains on track to test the August low of $1863
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Bears now eyeing a sustained break below 1.1700 mark
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar buoyant ahead of Powell, UK PM Johnson’s COBRA meeting eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Futures: Still room for extra gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Further consolidation looks likely ahead of Fed speakers
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar sags amid fiscal overhang, mounting coronavirus risks
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – No ease up for Powell
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
BOE Quick Analysis: Bailey blasts sterling with specter of negative rates, why more falls are likely
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s De Guindos: Euro exchange rate is fundamental for inflation
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Fed drives dollar higher, gold and stocks lower, BOE, jobless claims eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold aims $1980 as focus shifts to Wednesday’s FOMC
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD to surge to 1.40 by September-2021 – UBS
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Upbeat Chinese data boosts mood, Boris' bill passes first hurdle, Gold shines
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – More stimulus on the way?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB's Lane: Euro's rise dampens inflation outlook
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: King dollar holds the rein amid cautious optimism, eyes on US CPI
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Forecast: Euro set to fall? ECB expectations may be overconfident
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Brexit in deep crisis, vaccine hopes resurface, all eyes on the ECB
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Brent Oil resumes its core bear trend
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB’s Muller: A timely exit from temporary emergency measures is important
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine trial halt exacerbates risk off mood, Brexit, BOC, and US fiscal talks eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: XAU/USD drops further and approaches $1,900/oz
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Price Update: BTC bulls ready to strike back once $11,000 is cleared
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Hard-Brexit fears pound the Pound, Dollar bid on US-Sino woes
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD risks deeper pullback as 1.20 peak looks far
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold Price Analysis: Downside appears more compelling while below $1946 – Confluence Detector
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar stabilizes in the NFP aftermath, Oil tumbles amid holiday-thinned trading
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - Trump Closing the Gap
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Nonfarm Payrolls Preview: Fed’s policy shift to introduce vital noise
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold rebounds from weekly lows, turns neutral around $1945 region
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD trims losses and regains 1.1850 post-US ISM
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Fed's Williams: Policymakers seek inflation that targets 2% over time
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Cash Market Update: BCH fork is inevitable as Bitcoin ABC team separates from the project
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar climbs back from the abyss, ADP NFP, Fed speakers awaited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Bring on the Jobs Report
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Jackson Hole Goes Virtual
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead - The focus remains on COVID-19, the Fed and Congress
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Gold up, dollar down amid stalled fiscal talks, vaccine hopes, ahead of jobless claims
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead- Is the economic recovery stalling?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar licking its wounds, gold gives ground, ahead of the all-important Fed decision
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – What more can the Fed do?
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Market Update: BTC/USD hits a pause button before another bullish assault
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: Potential correction ahead of further gains
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: China's payback weighs on markets, boosts dollar, PMIs, coronavirus figures eyed
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
GBP/USD: Technicals show bulls have the upper hand
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold: Correction in sight after reaching nine-year highs
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar licking its wounds, gold shines, US coronavirus cases eyed after Trump's U-turn
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold jumps to fresh multi-year tops, beyond $1820 level
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: EUR/USD sells the fact, Gold looking strong, Trump's coronavirus briefs make comeback
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Bitcoin Market Update: BTC fails to live up to the status of digital gold
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
S&P 500 Futures Price Analysis: Bears retain control after rejection at falling trendline resistance
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: EU leaders can’t reach an agreement on the EU rescue fund
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Focus remains on Virus Spread, Fiscal Stimulus, Rebounding data, and Earnings
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD continues to look at the 1.1495 March high
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
AUD/USD to remain resilient in the near-term
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Dollar dominates ahead of EU Summit, updated look at the US consumer amid rising cases
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold probes multi-day lows around $1,790/oz
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
EUR/USD Price Analysis: A test of 1.1420 appears closer
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: US dollar seizes control as risk aversion returns, a busy docket ahead
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Gold to stay above $1800 fueled by lower real rates
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
ECB expected to keep rates unchanged
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Today: Vaccine, earnings optimism downs the dollar; eyes on COVID-19 stats, BOE’s Bailey
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Forex Week Ahead – Bring on Earnings Season
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613
Market Analysis
Crude Oil Futures: Upside looks limited
https://secure.gravatar.com/avatar/b23a9c274f4a28b6ab7acddb98b80613