March 25, 2020 at 03:17PM
US markets paused growth on Wednesday after jumping 9.4% SPX on Tuesday (strongest since 2008). Despite large-scale stimulus, it is difficult for major indexes to demonstrate back-to-back growth. SPX -1.0%, FTSE100 + 2.0%, EuroStoxx50 -0.4%.
DXY is falling for the 4th trading session, but retreated from the daily lows after stocks losing traction. EURUSD is trading slightly above 1.08. GBPUSD turned to a sharp decline from 1.1990 to 1.1770 in less than 5 hours. At the same time, commodity currencies confidently add to USD.
Gold faced growth difficulties above $1,630 after USD turned to growth earlier today and threatened the rally of gold.
Brent was turning down from the level of $ 30.50 for a second day, at $28.8 now. Fears of a collapse in demand in the coming months hold back buyers even at times of optimism in other sectors.
The global tipping point with the spread of coronavirus has not yet arrived, maintaining a shaky foundation under market recovery.
Important events, GMT (Exp.):
12:00 UK !!! BoE Interest Rate Decision
12:30 US !!! Unemployment Claims (Mar, 750K)
12:30 US !! Goods Trade Balance (Feb, -64.5B)
From: The FxPro Analyst Team https://fxpro.news/daily-economic-events/fxpro-daily-insight-for-march-25-20200325/
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