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GBPUSD Drops Back To Retest Breakout Level
The Pound sterling gave back some of the gains from late last week into Friday’s close.
Trump Threatens Action Against China
The US/China trade war has largely faded from people’s focus over recent months. Following the signing of the phase one trade deal back in January and the subsequent outbreak of COVID-19, focus has shifted away from the trade negotiations.
Oil Rises On Weaker Inventories Gain
Crude oil prices initially fell lower at the start of the week. However, prices posted a recovery midweek as the latest data from the EIA was not as bad as expected.
WTI Crude Oil Rebounds After Double Bottom Pattern
WTI crude oil prices are up over 22% on an intraday basis. This follows a strong recovery from the 10.58 level of support.
GBP Pulls Back After Failing To Breakout From Range
The GBPUSD currency pair is likely to continue its range-bound trading for a while.
Euro Consolidates Close To The 1.0871 Resistance Level
The euro currency is trading rather flat, up just 0.30% on the day.
US Consumer Confidence Suffers Record Fall
Yesterday’s US Consumer Confidence number noted a record drop over April. The data further continued the recent theme we have seen among economic data.
Will Chinese April PMIs Stay The Course?
China so far has given every appearance of a V-shaped recovery after officially getting a handle on the COVID-19 outbreak in February.
WTI Crude Oil Price Remains Volatile
Crude oil prices are down close to 5% on the day following a 24.8% decline from the day before.
EURUSD Recovers But Remains Within Range
The euro currency is posting modest gains, albeit price action remains firmly entrenched within the corridor of 1.0905 and 1.078 price levels.
Interest Rate Decisions: Fed & ECB
Coming up we have a really busy week for the markets, and we could expect to see increased volatility for several reasons.
BOJ Announces Unlimited Bond Purchases
Asset markets across the globe have started the week on a strong footing, boosted by a further injection of liquidity from the Bank of Japan.
WTI Crude Oil Gives Back The Gains, But Holds Steady
WTI crude oil prices are down over 28% on the day again.
GBP/USD Pulls Back After Modest Gains
The British pound is seen making a moderate pullback after prices continued to rise since Friday.
Euro Rebounds But Gains Remain Weak
The euro currency managed to build upon the bullish momentum from Friday.
Top 5 Trend Indicators You Should Know About
Trend-following in forex is one of the most common ways to position oneself in the FX markets. Trends usually take a lot of time to form and likewise, it takes a lot of variables for the trend to change direction.
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