Forex Signals Brief for Mar 12: Dollar Decline Continues
Rowan Crosby • 2 min read
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.
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.
Ironically, the talk of regulation grows by the day. Is there a storm on the horizon?