Forex Signals Brief for Mar 12: Dollar Decline Continues - Forex News by FX Leaders
The USD is Busy

Forex Signals Brief for Mar 12: Dollar Decline Continues

Posted Thursday, March 11, 2021 by
Rowan Crosby • 2 min read

US Wrap

US equity markets jumped yesterday, while the dollar has continued to fall away.

Stocks are interesting at the moment, as we can see that both the SPX and Dow Jones are sitting at record highs, while the NASDAQ is far weaker. We all know that the big tech names benefited most of all from the China virus, but they appear to be the most vulnerable right now, particularly, in light of some of their censorship practices that we’ve seen over the past 12 months.

Meanwhile, the USD is also continuing to fall and the majors are seeing some upside accordingly. While GOLD and SILVER have both stabilised and are starting to push higher.

The main news yesterday, was that the ECB will look to ramp up its bond buying despite rising yields. The ECB is all out of tricks it would seem.

 

The Data Agenda

We have a mixed session of data ahead with a number of releases worth paying attention to. 

In the UK we get GDP and manufacturing/industrial production data, which will be a market mover for the GBP/USD.

The US will get the latest PPI number, while in Canada, they release their employment data today.

 

Forex Signal Update

The FX Leaders Team hit 3 winners from 5 trades, in what is looking like a very strong week of results so far from the guys.

Make sure you follow our live signals as volatility could rise to close out the week.

 

SPX – Watching

The SPX is hitting into record-high territory and remains bullish for now.

 

USD – Watching

The Greenback has declined all week and we’ve aslo seen bond yields pullback for the time being.

 

Cryptocurrency Update

BTC is still bullish and looks like it wants to test the $58,000 level and reset the record highs. It will likely drag others like ETH along for the ride as well.

Ironically, the talk of regulation grows by the day. Is there a storm on the horizon?

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