The United States will publish ISM manufacturing PMI on April 1, at 17:00 MT time.
Antipodeans jump on the Fed Chair comments about the rate cut
Information is not investment advice
Oh, what a rise! Antipodeans jump on the Fed Chair comments about the rate cut.
- The bullish candlesticks on H4 of both NZD/USD and AUD/USD look impressive and give us a fear of missing out. That's not a surprise, as the Fed chair Jerome Powell signaled openness to rate cut due to trade uncertainties and weaker economic outlook. His remarks weakened the USD and pushed other currencies higher against it.
- NZD/USD jumped by 48 pips to the resistance at 0.6652. The next key resistance will lie at 0.6666. From the downside, the support levels are 0.6634, 0.6626 and 0.6619.
- AUD/USD tested the resistance at 0.6960 (100-period SMA). The next resistance will lie at 0.6968. In the case of the fall, the first support will lie at 0.6949 (200-period SMA). After the breakout, expect the further fall to the 0.6930 level.
Canada will publish the monthly GDP growth on Tuesday, at 15:30 MT time.
The British pound has increased in value over the course of the past week in line with an ongoing improvement in investor sentiment.
The country has come through the worst and is recovering now.
Moody’s downgraded the country to ‘junk’ status on Friday.
The US economy has been hit hard by the coronavirus outbreak.