
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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EUR/USD has been trading back and forth just below the 50-day moving average at 1.2150. If it manages to break it, the way up to the high of January 22 at 1.2190 will be open. On the flip side, the move below the low of February 12 at 1.2090 will drive the pair down to the next support of 1.2030.
GBP/USD jumped to the psychological mark of 1.3950 but failed to cross it. If it breaks it on the second try, the doors towards the next resistance of 1.4000 will be open. Support levels are at yesterday’s low of 1.3900 and at the low of February 12 at 1.3840.
USD/JPY has soared to the 200-day moving average of 105.60. If it manages to break it, the way up to November’s high of 106.00 will be open. On the flip side, if it fails to break it again, it may drop to the support of 105.00.
WTI oil is trading just above the $60.00 level. The way up to yesterday’s high of $61.00 is clear. Support levels are $59.00 and $57.50. Current oil ᏟᖴᎠs: WTI-21H expires on February 19, WTI-21J expires on March 19.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
Stock indices S&P 500 and Nasdaq are falling for seven days in a row. The New Zealand dollar skyrocketed to almost two-years highs. Fed’s Powell held a meeting yesterday and said that the central bank wouldn’t tight its easing policy anytime soon.
On Thursday, February 25, at 15:30, the initial jobless claims will be published in the US.
The giant chip maker exceeded analysts’ expectations. Even with a global GPU shortage!
OPEC will hold a meeting on March 4, where it should announce its decision on further oil output.
The risk-on is back on the market as investors focus on the projections for a stronger-than-expected economic rebound and the Fed’s pledge to prolong support for the rest of the year.
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