|Day's Range||1,564.00 - 1,651.00|
Once investors know the duration of the virus then they’ll be better able to figure out when the outbreak is likely to end in the rest of the world. This will then encourage more buying in crude oil along with extremely cheap prices.
Based on the early price action and the current price at 1.0996, the direction of the EUR/USD the rest of the session on Friday is likely to be determined by trader reaction to the main 50% level at 1.1007.
After a sharp drop in the equity markets in the last week of February, one equity index is on the verge of a technical breakdown which hints that the globally correlated equity markets might see more downside.
EUR/USD broke above the key resistance zone at 1.0950. The breakout and strong bullish impulse invalidated the bearish outlook. What is next for this pair?
The spreading coronavirus sowed a new bout of fear among investors, triggering a stock market sell-off and flight to safe-haven assets like gold and U.S. Treasury bonds.
We highlight some ETFs which are set to gain from the rally in gold as the intensifying coronavirus outside mainland China is raising fears of a severe slowdown in global economic growth.
Gold prices are consolidating and despite the selloff in riskier assets, the rush to gold as a safe haven was minor. Gold has been consolidation and continues to range trade waiting for US yields to take another leg lower. Yields dropped to 1.235% which is the lowest in more than 100-years but rebounded and above the 1.32%, which weighed on gold prices.
Gold markets rallied a bit during the trading session on Thursday, showing signs of strength again as equity markets around the world fell apart. Because of this, it makes quite a bit of sense that people running for safety came to this market.
The British pound has been all over the place during the trading session on Thursday, as the market is trying to find some type of footing just below.
The Australian dollar got a bit of a boost during the trading session on Thursday as the US dollar got hit just a bit. That being said, the market is likely to still have plenty of sellers above.
Oil prices are down for a fifth day on Thursday as a growing number of new coronavirus cases outside of China fuelled fears of a pandemic which could slow the global economy and lower crude demand.
The crypto markets were shaken Wednesday amid a flurry of selling that saw more than $190 million worth of longs and shorts liquidated on BitMEX.
The world’s most valuable and important metals are key for society’s technological advancement, and a nation that controls them is a superpower
Crossing below the $9,000 price level is a new low for February 2020. Bitcoin has not traded below the $9,000 threshold since January 27, when it began a march to new highs in the $10,500 range.
The British pound pulled back significantly during the trading session on Wednesday, reaching down towards the support level near the 1.29 level. At this point, the market is likely to continue to see buyers in this general vicinity, unless of course there is some negative news coming out of Great Britain itself.
The British pound has fallen during the trading session on Wednesday, after initially trying to rally. Giving up those gains initially to reach down towards the 50 day EMA should not be much of a surprise if you been watching for the last couple of weeks.