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Forex Market: Lower the dollar and breathe Wall Street

2


The Forex market session was marked by high volatility. It started in favor of the greenback, but then turned around and the dollar lost to the main hard currencies, and active havens such as Bitcoin.

The EURUSD hit an intraday low at 1.1226, trading at the time of writing at 1.1325. The monthly resistance is located at 1.1424, a value that reached last week.

On the other hand we have the BTCUSD that pierced in the Asian session the US $ 9,000, and then recovered to US $ 9,400, a value that it maintains at the moment.

Forex: Lower the dollar

The US dollar fell on Monday afternoon, after the Federal Reserve announced that it would buy individual corporate bonds in the secondary market, triggering a risky move that caused US stocks to rise and safe-haven assets like the dollar to drop, as reported by the Reuters news network.

The Fed said it will start buying corporate bonds on Tuesday through the secondary market corporate credit line (SMCCF), one of several emergency lines recently launched by the US central bank. to improve the functioning of the market following the coronavirus pandemic.

The central bank will use an indexing approach when making purchases, with the goal of creating a portfolio that is based on a broad and diversified market index of US corporate bonds.

The US Dollar Index fell 0.47% in US afternoon trade to 96.73.

Forex Market: Graph of the Dollar of the session of Today

American bags breathe

On the final stretch of the session, Wall Street reversed the negative trend, the most significant advance being the Nasdaq technology index, which posted a gain of 1.43%.

For its part, the Dow Jones climbed 0.62% to 25,763 points, while the S&P 500 advanced 0.83% to 3,066.

Retail sales in the US will be released tomorrow, which are forecast to be optimistic at 7.9%, from -16.4% last month. Anything above the forecast can be a driver for actions.

Key points to keep in mind

  • The most important point is the possible outbreak of the Coronavirus in Europe and the USA. As long as the risk remains latent, the nervousness of the market will remain.
  • The other data to follow is US retail sales. that will be broadcast tomorrow, and the conference of the president of the FED on Friday.
  • Finally, you have to keep a close eye on how the safe havens move: Japanese Yen, Gold and Bitcoin.

Reliable sources

The information in this content has been extracted from reliable sources detailed below:
* Own writing of the author of the content.
* Some of the content was taken from the Reuters agency.
* Graph of the Euro Dollar from Yahoo Finance.

, Forex Market: Lower the dollar and breathe Wall Street, Forex-News, Forex-News



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