The Federal Reserve surprised markets Tuesday, slashing interest rates amid concern about the potential economic toll of the coronavirus outbreak. Following a near to-the-point retest at 1.11, reinforced closely by February’s opening level at 1.1094, H4 price gained traction, eventually grasping the underside of 1.12.
Global Markets: Asian Stock Markets : Nikkei down 1.22%, Shanghai Composite up 0.74%, Hang Seng up 0.16%, ASX up 0.69% Commodities : Gold at $1596.65 (+0.12%), Silver at $16.79 (+0.29%), Brent Oil at $52.34 (+0.85%), WTI Oil at $47.37 (+1.33%) Rates : US 10-year yield at 1.126, UK 10-year yield at 0.406, Germany 10-year yield … Continue reading Tuesday 3rd March: Markets gain as investors look forward to support from Central Banks
Talks of Fed easing, coupled with record lows in US Treasury yields, witnessed the euro firmly advance Monday, adding more than 120 points into the close. EUR/USD weekly price recently touched gloves with channel resistance, extended from the high 1.1569.
Global Markets: Asian Stock Markets : Nikkei up 0.95%, Shanghai Composite up 3.15%, Hang Seng up 0.52%, ASX down 0.77% Commodities : Gold at $1600.70 (+2.17%), Silver at $16.93 (+2.86%), Brent Oil at $51.16 (+3.00%), WTI Oil at $45.95 (+2.66%) Rates : US 10-year yield at 1.104, UK 10-year yield at 0.448, Germany 10-year yield … Continue reading Monday 2nd March: Markets gain even as China PMI dips lower
EUR/USD bulls went on the offensive last week, adding more than 170 points into the close. The chart directed focus to the recent break of resistance at 1.0873, the 2016 yearly opening level, after bottoming off channel support, taken from the low 1.1109.
