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

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Palladium is down by 42%

Palladium is down by 42%

Information is not investment advice

Key indicators

Performance in 2020: -10%

Last day range: $1,678 - $2,046

52-week range: $1,678 - $2,878

What’s happening?

On February 27, palladium was at its all-time high of $2,878. As you can see, until then, it cared pretty little about the coronavirus and its consequences on the global economy. But finally, the sell-off mood hit this asset as well. Now, it trades at $1,748 after it fell to Autumn-2019 low of $1,674. From the all-time high, it makes a 42% drop! Needless to say, all the Moving Averages were crossed in no time. Currently, the support of $1,300 may be the closest target, after a correction upwards takes place. 

Technical levels

Resistance $2,048

Support $1,300




USD Regains Strenght

Looking ahead, highlights from macroeconomic calendar include EZ Sentiment Index and Fed’s Evans speech who is a Fed non-voter. Rise in US-China tensions (WeChat specifically) sends US dollar higher.

NFP Number Will Drive Markets

US stocks are set to open lower Friday, with investors worry over rising tensions between the US and China, deadlock over the next virus relief bill and possible disappointments from the key monthly employment report.

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