x
Visit our new Mobile Website next time you access NetDania with your mobile device
Netdania News
Europe roundup: Euro jumps on Dollar weakness, European shares turns choppy, Gold falls, Oil prices fall as demand woes eclipse U.S. stimulus-march 25th,2020

Source FxWire Pro Wednesday, 25 Mar, 2020 13:38:12 GMT
Back

Market Roundup

• UK Feb CPI (MoM)  0.4%,0.3% forecast, -0.3% previous

• UK Feb CPI (YoY)  1.7%    , 1.7% forecast, 1.8% previous

• UK Feb PPI Input (YoY)  -0.5%,-0.9% forecast, 1.6% previous

• UK Feb PPI Input (MoM)  -1.2%,-2.0% forecast, 0.3% previous

• German March Business Expectations  79.7, 81.9 forecast, 93.1 previous

• German March Current Assessment  93.0, 93.6 forecast, 99.0 previous

• German March Ifo Business Climate Index  86.1, 87.7 forecast, 96.0 previous  
 
• US March CBI Distributive Trades Survey  -3, -12 forecast, 1 previous  
 
• US Feb Core Durable Goods Orders (MoM)  -0.4% forecast,0.8% previous

• US Feb Durable Goods Orders (MoM) -0.8%,-0.2% previous

Looking Ahead - Economic Data (GMT)     
   
• 13:00 US Jan House Price Index (MoM)  0.6% previous

• 13:00 US Jan House Price Index (YoY)  5.2% previous

• 13:00 US House Price Index  283.0 previous

• 14:30 US Crude Oil Inventories 2.774M, 1.954M previous  
 
• 14:30 US Gasoline Inventories -0.657M forecast, -6.180M previous    

• Brazil CAGED Net Payroll Jobs 70.00K forecast, -307.31K previous    
                
Looking Ahead - Events, Other Releases (GMT)

• No significant events

Fxbeat

EUR/USD: The euro strengthened on Wednesday after policymakers in Europe and the United States approved extraordinary measures to lessen the impact of the coronavirus crisis. U.S. senators and officials in President Donald Trump’s administration agreed on a massive economic stimulus bill to alleviate the economic impact of the coronavirus outbreak. Meanwhile, European Central Bank (ECB) head Christine Lagarde asked euro zone finance ministers on Tuesday to seriously consider a one-off joint debt issue of “coronabonds” to help fight the epidemic. The euro was last up nearly 0.3% versus the greenback after losing some of its early gains, changing hands at $1.08145. Immediate resistance can be seen at 1.0848 (50% fib), an upside break can trigger rise towards 1.0891 (61.8%fib).On the downside, immediate support is seen at 1.0779 (38.2% fib), a break below could take the pair towards 1.0741 (23.6% fib).

GBP/USD: Sterling extended its rally on Wednesday as the safe-haven U.S. dollar fell across the board on some signs of stabler risk conditions amid the coronavirus crisis. Investors found some comfort that the severe impact of COVID-19 on Britain’s economy could be somewhat alleviated by financial stimulus from both the Bank of England and government. Investors found some comfort that the severe impact. The pound was last trading at $1.1831, having hit earlier a one-week high of $1.1971. Immediate resistance can be seen at 1.1967 (61.8% fib), an upside break can trigger rise towards 1.2000 (Psychological level).On the downside, immediate support is seen at 1.1831 (50% fib), a break below could take the pair towards 1.1700 (38.2% fib).

USD/CHF: The dollar was little changed against the Swiss franc on Wednesday after   U.S. politicians agreed a $2 trillion stimulus package that steadied money market nerves and prompted investors to buy back into ‘riskier’ currencies. Panicked investors fearful about the coronavirus pandemic had liquidated almost everything for U.S. dollars, with the world’s most liquid currency seen as a haven in times of crisis.U.S. Senate majority leader Mitch McConnell announced a breakthrough on a package to shield the world’s largest economy from the economic fallout of the outbreak. It will be put to a vote on Wednesday. Immediate resistance can be seen at 0.9886 (300 DMA), an upside break can trigger rise towards 0.9936(Higher BB).On the downside, immediate support is seen at 0.9781  (Daily low), a break below could take the pair towards 0.9714 (9 DMA).

USD/JPY: The dollar edged higher against the Japanese yen Wednesday after U.S. senators and Trump administration officials reached an agreement on a giant economic stimulus bill to alleviate the economic impact of the coronavirus outbreak. The U.S. stimulus deal, billed as a $2 trillion package, is expected to include $500 billion in direct payments to people and $500 billion in liquidity assistance. The biggest uncertainty is on how countries can slow the pandemic and how quickly they can lift various curbs on economic activity. Strong resistance can be seen at 111.51 (38.2% fib), an upside break can trigger rise towards 112.40 (23.6% fib).On the downside, immediate support is seen at 110.78 (50 % fib), a break below could take the pair towards 110.07 (61.8 % fib). 

Equities Recap

European stocks turned choppy again on Wednesday with bourses across the region wiping off most of their early morning gains as a sharp rise in the coronavirus death toll brought back panic.

At (GMT 13:33),UK's benchmark FTSE 100 was last trading up at 0.84 percent, Germany's Dax was down by 1.53 percent, France’s CAC finished was up by 0.64 percent.

Commodities Recap

Gold prices fell on Wednesday, after a steep rise in the previous session, as a flight to cash offset optimism around the U.S. government agreeing on a massive stimulus package to ease the economic burden of the coronavirus pandemic.

In volatile trade, spot gold fell 1% to $1,594.18 per ounce by 0743 GMT, after rising as much as 1.6% earlier in the day. The metal jumped more than 3% on Tuesday.U.S. gold futures climbed 0.2% to $1,664.80.

Oil prices fell on Wednesday as faltering fuel demand because of of the coronavirus pandemic outweighed a massive pending U.S. economic stimulus package.

Brent crude was down 84 cents, or 3.1%, at $26.31 a barrel at 1154 GMT after touching a low of $25.68.U.S. crude was down 29 cents, or 1.2%, at $23.72 after a low of $23.15.

Treasuries Recap

Eurozone government bonds steadied on Wednesday after policymakers in Europe and the United States approved extraordinary measures to lessen the impact of the coronavirus crisis, although stock markets suffered some losses.

Germany’s 10-year government bond, the benchmark for the region, saw its yield edge a basis points higher to -0.31%, a move mirrored by other high-grade government bonds. 

Italian 10-year borrowing costs were unchanged at 1.59%; nearly half last week’s high of 3.01%.
 

Source: FxWire Pro
© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.
Find a Top Broker
Global
Forex
21085.07
179.67
0.86%
2493.46
28.58
1.16%
7519.72
59.82
0.80%
6809.86
166.9
2.51%
9525.12
171.9
1.84%
17939.33
290
1.64%
2780.64
46.12
1.69%
5505.50
89.55
1.65%
23234.00
269
1.17%
5228.72
140.6
2.76%
8253.80
-343.95
-4.00%
1614.63
22.78
1.43%
29.87
4.22
16.45%
1.08401
-0.01111
-1.01%
107.868
0.574
0.53%
1.23958
0.0016
0.13%
0.60424
-0.00476
-0.78%
1.41952
0.00436
0.31%
116.93200
-0.574
-0.49%
0.87447
-0.01003
-1.13%
133.71100
0.884
0.67%
0.97374
0.00739
0.76%
1.05558
-0.00271
-0.26%
0.59078
-0.0027
-0.45%
100.32300
0.65
0.65%
Top Gainers
Name
Last
+/-
%
2.52
1.14
82.97%
1.72
0.64
59.26%
1.57
0.37
30.83%
2.14
0.48
28.71%
0.33
0.07
28.35%
14.15
2.65
23.03%
2.77
0.51
22.57%
7.61
1.32
20.99%
1.22
0.20
19.61%
0.13
0.02
18.02%
Top Losers
Name
Last
+/-
%
1.65
-1.56
-48.60%
2.48
-1.50
-37.69%
0.26
-0.13
-33.15%
6.22
-2.55
-29.06%
0.94
-0.33
-25.97%
0.75
-0.23
-23.97%
0.30
-0.10
-25.18%
7.57
-2.47
-24.60%
1.16
-0.36
-23.68%
2.86
-0.87
-23.32%
NetDania does not guarantee the accuracy of data contained on this website, nor do we guarantee that data is real-time. Data on this website may be provided from OTC market sources and market makers, and not necessarily from exchanges. The provided price data is indicative and may not be appropriate for trading or decision making purposes. NetDania does not assume any responsibility for any losses incurred from the use of the provided data.
NetDania does not endorse or promote any broker or financial service. NetDania is a pure technology provider offering its software with broker integration. Any user of NetDania software must be an existing client of one of our supported brokers. NetDania showcases NetDania technology for the purpose of demonstrating it towards brokers and other institutions looking to white label the technology on a software subscription contract. No financial services are offered, promoted or recommended. NetDania is compensated as a technology provider by its institutional clients including its integrated brokers. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation affecting it.

Persons or entities including approved brokers not belonging to the NetDania Group may advertise on the NetDania and its Group’s websites, through links, banners or otherwise. We have not taken any steps to verify the accuracy, quality or reliability of any products, information or services provided by third parties that have links on our website. We accordingly provide no warranties with regard to and disclaim responsibility for any such products, information or services and exclude all liability in this regard to the fullest extent permitted by relevant laws and regulations. If a user of the NetDania Group’s websites decides to act upon any such advertising, such user does so entirely at its own risk.

NetDania’s website may be accessed worldwide. The Information provided on its website is however only intended for use by recipients located in countries where such use does not constitute a violation of applicable legislation or regulations. None of the offerings services referred to on this website are available to recipients residing in countries where the provision of such offerings would constitute a violation of mandatory applicable legislation or regulations. It is the sole responsibility of any recipient employing or requesting an offering to comply with all applicable legislation or regulation.

HIGH RISK INVESTMENT WARNING:
End-users of the NetDania software that make use of the trading integration features as direct clients of integrated brokers, should be aware of the level of risk carried by trading in financial markets. Trading foreign exchange and or other financial instruments on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or more 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 trading, and seek advice from your broker and or an independent financial advisor if you have any doubts. Anyone opening a live trading account needs to adhere to the laws of their local country as such laws may differ from country to country.
NetDania expressly disclaims any liability for any lost principal or profits which without limitation may arise directly or indirectly from the use of or reliance on information on our website or the use of our software with broker integration.
Copyright © 1998 -2020 NetDania Creations ApS, Bredgade 30, 1st floor, DK-1260 Copenhagen K, Denmark, +4536980409, Contact NetDania by email, CVR-nr.27976670 Terms And Conditions and Privacy Policy