Read the opinion by Morgan Stanley and ANZ on the performance of AUD in Q1
Daily Market Analysis
Information is not investment advice
On Thursday, EUR/USD will be driven by the economic releases in Europe and the United States.
NZD/CHF fell this week as the Swiss franc appreciated versus other currencies. However, the positive market sentiment related to the US-China trade deal helped the pair to find support in the 0.6355 area.
AUD/JPY has been recovering from the 74.00 area since the start of January, but met resistance in the 76.00 area.
EUR/JPY is enjoying the medium-term uptrend since the start of September. The pair’s currently trading above the 50-week MA (121.66) and above December highs (122.50).
Last week GBP/USD has failed to stay above the 200-week MA (1.3065) for the second time.
EUR/GBP formed a candlestick with a long lower wick on the MN chart – a sign of reversal to the upside…
What if the market uncertainties prevail and the risks of the recession renew? The central banks should have more opportunities to stimulate the economy. However, low rates for most of the central banks and negative for some of them mean the banks are at the edge.
The US dollar had a strong week versus the Japanese yen. USD/JPY opened with a gap down on the W1, but is now trading above the highs of the previous week.
The advance of gold (XAU/USD) this week has been too rapid. The precious metal got overbought.
The volatility of the oil price these days questions the previously taken uptrend. Or does it not?
If you look on the weekly chart of GBP/JPY. You will see that the pair has ran into resistance of the 200- and 100-week MAs.