The greenback has recovered part of the losses relative to its main competitors. Yesterday, the dollar index (#DX) closed in the green zone (+0.76%). Currency majors are currently consolidating. Financial market participants continue to assess the impact of the COVID-19 pandemic on the global economy. According to the World Bank, the coronavirus pandemic will significantly slow down the growth of developing economies in East Asia and the Pacific.
The loonie remains under pressure after a significant collapse in oil prices during yesterday's trading session. Demand for the "safe haven" currencies is still high. Investors expect a report on the US labor market for March, which will be published on Friday. Last week's jobless claims data show how severely the coronavirus pandemic is affecting the US economy.
At the moment, the "black gold" prices are recovering after a sharp decline. Futures for the WTI crude oil are testing the $21.20 mark per barrel.
Market indicators
Major US stock indices continue to recover after a prolonged fall: #SPY (+3.25%), #DIA (+3.12%), #QQQ (+3.64%).
The 10-year US government bonds yield has moved away from multi-year lows. At the moment, the indicator is at the level of 0.70-0.71%.
- - Report on the labor market in Germany at 10:55 (GMT+3:00);
- - Eurozone's consumer price index at 12:00 (GMT+3:00);
- - Canada's GDP data at 15:30 (GMT+3:00);
- - CB consumer confidence index in the US at 17:00 (GMT+3:00).
by , 2020.03.31
We advise you to get acquainted with the daily forecasts for the major currency pairs.This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.
Open Account