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Coronavirus Goes Global, Brent Blasted by Bears

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GBP/USD is climbing toward 1.30 amid coronavirus-related USD weakness. EU ministers are set to sign off on their mandate for post-Brexit talks, set to start next week. China’s foreign exchange regulator has warned that emerging markets need to muscle in on cryptocurrency-enabled illegal cross-border capital flows. In case of US Dollar to other currencies, values are quoted on basis of USD as base currency whereas in Indian Rupee to other currencies, values are quoted on basis of INR as quote currency.

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Gold is back up to $1,655 on a bounce from the 100-hour moving average ForexLive European indices are adjusting lower on the day, with early gains evaporating and the equities board is turning red at the moment. 10-year Treasury yields are also slightly lower and that is pushing risk to the downside currently. 10-year bund yields slip to -0.510% ForexLive Risk tones continue to keep softer in European morning trade, with equities gradually slipping and bond yields easing further on the session.

LONDON (AP) — Share prices around the world, particularly in Japan, took a hit Tuesday amid mounting fears about the economic impact of the new coronavirus outbreak. Improve your trading knowledge and stay ahead of the curve with our weekly Foundations of Forex Trading webinar.

The euro today traded at multi-year lows against the US dollar despite the release of positive German macro reports in the early European session. https://en.forexrobotron.info/ The EUR/USD currency pair fell to lows last witnessed in April 2017 after the results of the last French election were announced.

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Private Sector PMIs and the Coronavirus in Focus as Risk Aversion HitsPrivate sector PMI numbers put the majors in focus later today. Expect plenty of volatility as risk appetite takes another hit. Stocks fell and bond prices rose sharply on Wall Street Friday amid signs that economic fallout from the viral outbreak that originated in China is hurting U.S. companies. I follow many trading products using my math on intraday, daily and weekly trends.

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A Quiet Day on the Economic Calendar Leaves the Coronavirus in FocusThe Aussie Dollar got an early boost, courtesy of impressive inflation numbers out of China. GDP Numbers and U.S Consumer Confidence Put the EUR and USD in FocusRiskier assets find early support on a relatively quiet day on the economic calendar. U.S consumer confidence numbers will garner plenty of attention.

  • EU ministers are set to sign off on their mandate for post-Brexit talks, set to start next week.
  • Cryptocurrencies Find out more about top cryptocurrencies to trade and how to get started.
  • OANDA Asia Pacific Pte Ltd (Co. Reg. No K) holds a Capital Markets Services Licence issued by the Monetary Authority of Singapore and is also licenced by the International Enterprise Singapore.
  • Founded in 2008, ForexLive.com is the premier forex trading news site offering interesting commentary, opinion and analysis for true FX trading professionals.
  • Expect plenty of volatility as risk appetite takes another hit.
  • However, the rebound since then was short-lived and met resistance near 111.00.

Keep track of the latest currency market moves as they develop. Stay up-to-date on breaking forex news as well as relevant financial developments. Commodities Our guide explores the most traded commodities worldwide and how to start trading them. Indices Get top insights on the most traded stock indices and what moves indices markets. Cryptocurrencies Find out more about top cryptocurrencies to trade and how to get started.

However, the inclusion of Bitcoin in the current forex market is a big step for the cryptocurrency industry. Want to get in-depth lessons and instructional videos from Forex trading experts?

BTC/USD is currently trading at the price level of $9575 and looking for support at $9350. The major moving averages are very close, and Bitcoin will most likely end up in the SMA200 environment, now at $8750.

Register for free at FX Academy, the first online interactive trading academy that offers courses on Technical Analysis, Trading Basics, Risk Management and more prepared exclusively by professional Forex traders. Concerns that the Coronavirus is spreading hard and fast beyond the borders of China have pushed FX traders to the safe haven US Dollar, with the Australian Dollar and the Euro losing favor. MarketPulse is a forex, commodities, and global indices analysis news site providing timely and accurate information on major economic trends, technical analysis, and worldwide events that impact different asset classes and investors.

US Treasury 10-year yields are now up by just 0.3 bps to 1.373% and in turn, we are seeing yen crosses being dragged lower as well. As mentioned earlier, I reckon they can take heart in the fact that the yen has actually weakened despite the coronavirus saga. The 3-month moving average is also seen improving to 0 from -1 last month, being the highest since January 2019.

This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money. Australia Likely to be Hard-Hit by CoronavirusThe coronavirus is having a negative effect worldwide, particularly on countries with close links to China.

Assess the true market sentiment before you short or long a currency. Besides coronavirus, other news has been driving the stocks of Apple, Wallmart and General Motors to the lower levels. First Type I Financial Instruments Business Director of the Kanto Local Financial Bureau (Kin-sho) No. 2137 Institute Financial Futures Association subscriber number 1571. OANDA Australia Pty Ltd is regulated by the Australian Securities and Investments Commission ASIC (ABN , AFSL No. ) and provides and is the issuer of the products and/or services on this website.

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You may lose more than you invest (except for OANDA Europe Ltd customers who have negative balance protection). We recommend that you seek independent financial advice and ensure you fully understand the risks involved before trading. The US dollar is surging to kick off the trading week, https://en.forexrobotron.info/indian-government-cuts-corporate-income-tax-rate-from-30-to-22-forex/ buoyed by renewed safe-haven demand as the coronavirus continues to extend outside China. While the situation has relatively stabilized in the world’s second-largest economy, investors are in a panicky state because of how the outbreak is beginning to intensify all over the world.

ActionForex.com was set up back in 2004 with the aim to provide insight analysis to forex traders, serving the trading community over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

The Asian giant is Australia’s largest trading partner, and the severe disruption to China’s economy will likely damage the Australian economy. Fed Concerned About Coronavirus, But Not Expected to Raise RatesThe spotlight was on the Jerome Powell on Tuesday, as the Federal Reserve Chair testified on Capitol Hill. Powell acknowledged the risk of the coronavirus, while maintaining that the Fed was not planning to lower interest rates in the near future.

The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.