Risk Sentiments Up With a Vaccine in Sight
04/29/2020 at 09:18AM
In the G10 FX Market, NZD and AUD are the top gainers today, up 0.64% and 0.58% versus the dollar while GBP and USD are the top losers. The dollar fell broadly versus major currencies on Wednesday, inching to a two-week low, as improved stock markets helped risk sentiments ahead of the Federal Reserve meeting later in the day.
In terms of Coronavirus News, there is now a possibility of a vaccine as soon as September if trials conducted by Oxford Group show positive results. So far the first human trials of the vaccine are conducted on 1K patients which will be expanded to 6K in June.
In the rates market, global yields were trading weaker with the US 10-year yield down -2.1bp trading at 0.595 and the German 10-year yield trading lower by -1.6bp around -0.484. In the energy space, the Brent front month is trading up 14.27% for the day at $23.38.
10-year Yields Daily Chart (1-month)
Daily FX Pivots
Brent Crude Daily Chart (1-month)
Forex Chart and Technical Analysis
EURUSD Chart (Two-week)
Strategy: Support at 1.084 for 1.092
GBPUSD Chart (Two-week)
Strategy: Resistance at 1.2495 for 1.2379
USDJPY Chart (Two-week)
Strategy: Resistance at 106.92 for 106.13
AUDUSD Chart (Two-week)
Strategy: Support at 0.648 for 0.6561