Don’t waste your time – keep track of how NFP affects the US dollar!

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Follow us on Facebook

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Email tooltip

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

FBS Mobile Personal Area

FREE - In Google Play

View
EUR/USD: faces stiff resistance at 200-day moving average and looks for higher

EUR/USD: faces stiff resistance at 200-day moving average and looks for higher

Information is not investment advice

2021_04_08_15_54_49_Template1_Autosaved_.pptx_AutoRecovered_PowerPoint.png

EURUSDM30.png

2021_04_08_15_58_23_Template1_Autosaved_.pptx_AutoRecovered_PowerPoint.png

USDJPYM30.png

Fibonacci Levels

 XAU/USD: Gold appreciates further as US dollar losing strength. Gold bulls are preparing to send price above 38.2% retracement area.

XAUUSDH4.png

Ichimoku Kinko Hyo

CAD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.

CADJPYM30.png

US Market View

 U.S. stocks are seen opening higher Thursday, with the tech-heavy Nasdaq outperforming as the Biden administration’s tax proposals may be watered down. The S&P and the Dow are on course for their third straight winning week, ahead of next week’s start of what is expected to be a very strong earnings season. According to data from Refinitiv, earnings for the first quarter of 2021 will see the strongest growth since the third quarter of 2018.  Futures tracking the Nasdaq jumped about 1% on Thursday, as tech-related stocks climbed ahead of weekly jobless claims data, while reassurance that the Federal Reserve will maintain its ultra-dovish stance for a longer period supported sentiment. High-growth tech stocks have recovered in recent sessions as U.S. 10-year bond yields backed off from their 14-month highs.

Helping the tone were the FOMC from the Federal Reserve’s March meeting, in which the policymakers acknowledged progress on the economy, but stated that substantial progress on the recovery will likely take "some time", i.e. the easy monetary policy is here to stay. The Fed has made great play that the labor market recovery has much more room to run, and with this mind the weekly unemployment claims data, due later in the session, will be studied carefully.

Also of interest were comments from Biden that he was prepared to compromise on his $2 trillion infrastructure bill, and the associated tax increases, as the package faces difficulties in passing through Congress. The tax plan Biden laid out last week was seen hitting the big technology and pharmaceutical companies particularly hard, as it would limit them from using credits for research and development costs.

 

 

USA Key Point

  • ECB: Policymakers needed to avoid giving impression of being overly focused on bond yields.
  • UK March construction PMI 61.7 vs 55.0 expected.
  • USD/JPY gradually extends decline as Treasury yields remain pinned lower.
  • Germany March construction PMI 47.5 vs 41.0 prior.
  • Dollar a little on the back foot as risk keeps slightly firmer to start the session.
  • USD/CAD retreats below 1.2600 in choppy session.
  • GBP/USD to tick down towards the 1.3706 support.
  • ECB to maintain accommodative policy, no risk of overheating.

Similar

Popular

Choose your payment system

Learn more

Callback

Please fill in the form below so we can contact you

Select the best time for us to call you. We give calls from Monday to Friday in suggested intervals. In case we couldn't get through, we will try again at the same time the next day. For getting real-time assistance, use FBS chat.

We provide only English-speaking callbacks. If you prefer any other languages, contact the support team.

We will call you at the time interval that you chose

Change number

Your request is accepted.

We will call you at the time interval that you chose

Next callback request for this phone number will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later