Forex Signals Brief for Mar 4: Stocks Fall Again - Forex News by FX Leaders
Stocks to Open Weak

Forex Signals Brief for Mar 4: Stocks Fall Again

Posted Thursday, March 4, 2021 by
Rowan Crosby • 1 min read

US Wrap

US equity markets continue to sell off after another session with the major indexes closing in the red.

Once again, the NASDAQ looks the most vulnerable, led by the major tech names. Whoever, the SPX is also slipping on a daily basis.

The USD has stabilised a little bit for the time being, which will slow down the volatility in the majors across the board. While the precious metals markets will also benefit to some degree.

However, it was the cryptos that were once again the big mover yesterday, with BTC leading the charge higher as price took out $50,000.

 

The Data Agenda

As we inch towards Friday’s non-farm payroll data, today we get to see the all-important jobless claims data for the week.

The expectation today is that have jumped higher to 750K and it is clear that this is a number that is struggling to fall. Hopefully, now that US states are starting to fully open and get rid of all masks and business closures, things could start turning around.

 

Forex Signal Update

The FX Leaders Team grabbed the one win on our EUR/USD signal as the Greenback holds up for now.

Make sure you follow our live signals as stocks are on watch at the moment.

 

SPX – Watching

The SPX is looking weaker and weaker at the moment. Could markets be on the verge of a correction?

 

GBP/USD – Active Signal

We’re long the GBP/USD looking for a test of the 1.4000 level.

 

Cryptocurrency Update

BTC took out the $50,000 level and for the time being, the bulls are back in control.

Can we see another test of the prior highs or is this a dead cat bounce?.

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About the author

Rowan Crosby // Asia-Pacific Analyst
Rowan Crosby is a professional futures trader from Sydney, Australia. Rowan has extensive experience trading commodities, bonds and equity futures in the Asian, European and US markets. Rowan holds a Bachelor of Finance and Economics degree and is focused heavily on Investment Finance and Quantitative Analysis.
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