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Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus

Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus<br>

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Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus

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  1. Trump Drop Plans to get Economy Back on Track, Boris Gets Coronavirus JPY and USD are the top G10 FX gainers today while NOK and SEK are the top losers, down - 1.09% and -0.78% vs the dollar. The U.S. President Trump dropped plans to get the economy back up by mid-April and instead extended the stay-home guidelines until the end of April after experts projected a death toll of more than 100,000 Americans from the coronavirus outbreak on Trump's old plan. The U.S. death toll topped 2,460 from the virus outbreak with over 140,000 positive cases of Covid-19. Elsewhere, U.K. PM Boris Johnson and Health Minister Matt Hancock both tested positive for Coronavirus. The situation in the UK is set to get worse with reports of a rise in deaths from Coronavirus. Overall, we expect the Financial Markets to remain risk-averse with chances of some improvements over the coming weeks if the curve flattens in the western countries. In the Asian equities space, the Nikkei 225 closed -2.01% at 18999.0 Hang Seng closed -1.67% at 23093.0 and Kospi ended -0.04% at 1717.12. The European equities were trading lower with the FTSE down -1.94% at 5403.2, DAX -1.17% at 9520.25, and Euro Stoxx 5 -1.58% at 2685.55. In the rates market, global yields were trading weaker; the US 10-year yield was trading at 0.649% and the UK 10-year yield trading at 0.273%. In the energy space, the Brent (front month) is trading down (- 2.2%) for the day at $26.23. 10-year Yields Daily Chart (6-month)

  2. Daily FX Pivots Brent Crude Daily Chart (1-month) (Content and Data by Tradermade) Forex Chart and Technical Analysis

  3. EURUSD Chart (Two-week) Strategy: Support at 1.1014 for 1.1208 Short-term view: EUR/USD support comes in at 1.1014, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 1.1274. Below 1.1014 to open 1.0887 GBPUSD Chart (Two-week)

  4. Strategy: Support at 1.2356 for 1.2716 Short-term view: GBP/USD support comes in at 1.2356, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 1.2716. Below 1.2356 to open 1.2227 USDJPY Chart (Two-week)

  5. Strategy: Support at 107.24 for 110.47 Short-term view: USD/JPY support comes in at 107.24, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 110.47. Below 107.24 to open 106.51 AUDUSD Chart (Two-week) Strategy: Support at 0.6129 for 0.6307 Short-term view: AUDUSD support comes in at 0.6129, MACD crossover suggests a bullish bias and RSI is above 50. Hence we see an upside to 0.6307. Below 0.6129 to open 0.6057 Visit tradermade.com for Forex Trading Software

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