25th March - Forex Technical & Market Watch
Euro May Fall as Yen, US Dollar Rise on Soft German IFO Data
G10 FX in digestion mode as APAC stocks follow Wall Street
US Dollar appear biased higher amid continued risk aversion
S&P 500 chart positioning hints a major turn in sentiment is ahead
ASEAN FX at Risk to US Recession Fears & Sentiment on Brexit, ECB
A more dovish Fed sunk US Dollar, lifting ASEAN currencies
Rising concerns about a recession may bolster the Greenback
Declines in USD/IDR, USD/MYR and USD/PHP may not last
Crude Oil Prices May Validate Bearish Chart
Crude oil prices drop with stocks amid global slowdown fears
Gold prices up as yields decline, US Dollar bounce caps rise
S&P 500 futures suggest risk aversion has scope to continue
EUR/USD is trading around 1.1300 in the wake of the new week, marginally higher. The decline in global bond yields and fears of a recession loom on markets and limit the recovery. The German IFO number is next.
GBP/USD slides below 1.3200. The future of PM May is in question as some ministers ask her to step down in return from supporting the Brexit deal. Alternative Brexit options will likely be debated later this week.
Large traders lifted bullish net positions in WTI oil for the fifth straight week in seven days to March 19th, according to the data released by the Commodity Futures Trading Commission (CFTC) on Friday.
Oil prices are already feeling the pull of gravity - WTI is currently trading at $58.50 per barrel, having hit a four-month high of $60.37 per barrel on March 21.
Gold prices are on bid around $1316 during early Monday. The yellow metal recently benefited as global markets turned risk-off moves after sluggish data from the US flashed a sign of recession for the world’s largest economy.
Disclosure :- The author does not hold any forex trading account while writing.
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