Dollar Rally Paused But Euro Vulnerable to a Further Downside
Updated 09:58AM 19/02/2020
NOK and NZD are the top G10 FX gainers today, up 0.49% and 0.31% vs the dollar while JPY and GBP are the top losers, down -0.31% and -0.16% vs the dollar.
Euro stabilised a little as improvement in risk sentiments paused the dollar rally and provided much-needed relief for the single currency that had dipped to three-year lows on fears of weakening eurozone economy.
In the Asian equities space, the Nikkei 225 closed up 0.89% at 23,400.70, Hang Seng closed 0.46% at 27655.81 and Kospi ended 0.07% at 2210.34. The European equities were trading firm with the FTSE up +0.89% at 7447.41, DAX up +0.38% at 13732.78, and CAC up +0.52% at 6088.12. In the rates market, global yields were trading firmer; the US 10-year yield was trading at 1.561% and the Bund 10-year yield trading at -0.403%. In the energy space, the Brent (front month) is trading up (0.62%) for the day at $58.11.
Get Real Time Forex Trade Ideas
10-year Yields Daily Chart (6-month)
Daily FX Pivots
Brent Crude Daily Chart (1-month)
Forex Chart and Technical Analysis
EURUSD Chart (Two-week)
Strategy: Resistance at 1.0825 for 1.0858
GBPUSD Chart (Two-week)
Strategy: Resistance at 1.3041 for 1.2927
GBPJPY Chart (Two-week)
Strategy: Support at 142.78 for 143.70
AUDUSD Chart (Two-week)
Strategy: Resistance at 0.6711 for 0.6649
Most Recent Posts
Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus
Updated: Mar 30, 2020 09:37 UTC
Dollar Retreat but for How Long?
Updated: Mar 27, 2020 10:05 UTC
Dollar Down But For How long?
Updated: Mar 26, 2020 10:15 UTC
U.S. $2 Trillion Stimulus On the Way, Will it be Enough?
Updated: Mar 25, 2020 10:16 UTC
Fed Announces Unlimited QE, What's Next
Updated: Mar 24, 2020 09:35 UTC
Europe on the Verge of Shutdown.
Updated: Mar 23, 2020 10:07 UTC
Stock Market Rally, Risky Currencies Up, Whats Next?
Updated: Mar 20, 2020 09:59 UTC
ECB Launches Coronavirus Stimulus, But Will It Be Enough?
Updated: Mar 19, 2020 09:28 UTC
Government Stimulus Fails to Alleviate Investors Fears
Updated: Mar 18, 2020 09:53 UTC
Global Central Banks Inject Dollar Liquidity - Will It Be Enough?
Updated: Mar 17, 2020 10:12 UTC
Rally in Equities May Not Last Here's Why
Updated: Mar 13, 2020 09:40 UTC
Coronavirus - Going to get Worse Before it Gets Better
Updated: Mar 12, 2020 09:46 UTC
Markets Remain in Coronavirus Grip as BoE Cut Rates
Updated: Mar 11, 2020 10:00 UTC
Markets Up on Big Stimulus Hopes
Updated: Mar 10, 2020 10:00 UTC
Oil Plummets, Equities Crash, But Time to Keep Calm
Updated: Mar 09, 2020 11:03 UTC
Yields Slide Euro Surge
Updated: Mar 06, 2020 10:00 UTC
Fed Stabilized Equities but Dollar Vulnerable
Updated: Mar 05, 2020 10:49 UTC
Virus Fears Trump Stimulus Plans
Updated: Mar 03, 2020 10:41 UTC
Federal Reserve Opens the Cheque Book
Updated: Mar 02, 2020 10:39 UTC
Yields Fall as Rate cut Bets Rise Globally
Updated: Feb 27, 2020 10:00 UTC