BoE Helps Pound But Market Still Risk Averse
Updated 09:39AM 07/05/2020
In the G10 FX Market, AUD and NZD are the top gainers today, up 0.81% and 0.56% versus the dollar while JPY and NOK are the top losers, down -0.29% and -0.13% versus the dollar, respectively. The U.S. dollar is likely to remain strong over the coming 3-months as the investor prefers safety amid the coronavirus crisis, a Reuters poll suggested.
The Bank of England did not announce fresh stimulus on Thursday but said it is likely to take more action curb the current economic slump the level of which is not seen over the past 300 years. Sterling improved slightly as BoE forecasted a strong recovery in 2021.
In the rates market, global yields were trading stronger today. The German 10-year was trading at -0.493, up 2.3bp. The UK 10-year was trading at 0.25, up 1.7bp. The Japan 10-year was trading at 0.001, up 1.0bp. The US 10-year was trading at 0.711, up 0.2bp.
In the Asian equities, markets were trading mixed today. The Nikkei 225 was trading at 19639.0, up 0.1%. The Kospi was trading at 1928.61, down -0.01%. The Hang Seng was trading at 24013.0, down -0.52%. In the European equities, indices were trading firm today. The DAX 30 was trading at 10678.33, up 0.64%. The FTSE 100 was trading at 5873.62, up 0.34%. The Euro Stoxx 50 was trading at 2858.4, up 0.46%. Looking at Equity Futures today. The SP500 Futures was trading at 2867.12, up 1.19%. The FTSE100 Futures was trading at 5861.8, up 0.53%. The Euro Stoxx 50 Futures was trading at 2838.0, up 0.64%.
In the Energy space, Oil futures were trading firm today. The WTI Crude Futures was trading at 24.12, up 0.54%. The Brent Crude Futures was trading at 29.75, up 0.1%.
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 1.077 for 1.0834
GBPUSD Chart (Two-week)
Strategy: Resistance 1.2417 at for 1.2302
USDJPY Chart (Two-week)
Strategy: Support at 106.24 for 106.88
AUDUSD Chart (Two-week)
Strategy: Support at 0.644 for 0.6476
Most Recent Posts
TraderMade Teams Up with Datarade to Meet Demand for Market-Leading FX Data
Updated: Jan 07, 2021 02:20 UTC
Risk On Risk Off Continues in the FX Market
Updated: May 18, 2020 10:00 UTC
Risk Off on Second Wave Worries Ahead of The Weekend
Updated: May 15, 2020 09:20 UTC
Forex Driven by Coronavirus Second Wave Worries
Updated: May 12, 2020 09:11 UTC
Risk On As Major Economies Lift Lock-down
Updated: May 11, 2020 10:56 UTC
Pound Weakens, Yen at Multi Week High
Updated: May 06, 2020 09:32 UTC
Oil Rallies but Trade War Fears Remain
Updated: May 05, 2020 08:15 UTC
Trump Reignites Trade War Fears
Updated: May 01, 2020 09:06 UTC
Oil Recovery Helps Sentiments
Updated: Apr 30, 2020 10:28 UTC
Risk Sentiments Up With a Vaccine in Sight
Updated: Apr 29, 2020 09:18 UTC
FX Outlook Ahead of ECB and Fed
Updated: Apr 28, 2020 08:47 UTC
Boris Returns but Lock-down Extension May Weigh Heavy Sterling
Updated: Apr 27, 2020 08:58 UTC
Sterling Likely to Struggle, Here's Why?
Updated: Apr 24, 2020 08:36 UTC
Oil Surge Dollar Fell, What Next?
Updated: Apr 23, 2020 10:08 UTC
Crude Oil Making Financial Markets Nervous
Updated: Apr 22, 2020 10:37 UTC
Crude Oil Fall Unnerves Markets, What to Do
Updated: Apr 21, 2020 08:58 UTC
Sterling in Trouble, Risk Sentiments Fragile
Updated: Apr 20, 2020 09:05 UTC
Coronavirus - We Have Not Seen the Bottom Yet
Updated: Apr 17, 2020 08:55 UTC
Economic Downturn Likely to Worsen Further, Here's Why
Updated: Apr 16, 2020 09:21 UTC