Forex Signals Brief for Mar 23: Markets Bounce Back
Rowan Crosby • 1 min read
US equity markets managed to climb to start the new trading week while the dollar was relatively steady.
At the same time, we saw the VIX take a tumble pulling under the key 20.0 level, which is back to where things were pre virus.
The Data Agenda
My main focus today will likely be the host of FOMC speakers we are going to be seeing.
All the attention remains on just what the Fed want to do with rates given the increasing yields and the fact that no one wants US bonds anymore. As they continue to fall, it marks a worrying time for global central banks. We also hear from Powell again who yesterday put Bitcoin under the gun.
In the UK, we get the latest jobs data which will be interesting given what we are herding from Boris Johnson and the crazy things he is trying to do to the economy.
Forex Signal Update
The FX Leaders Team hit 1 winner from 3 trades, as the Greenback held relatively firm.
EUR/USD – Active Signal
The EUR/USD has been unable to rally and we are looking for another leg lower here with our short signal.
EUR/GBP – Active Signal
The EUR/GBP is still very soft and we are short here also.
BTC was in the red yesterday after Powell’s comments hit it hard. Price couldn’t retest the $58,000 level with any force at all and is now looking like it wants to fall away further.