Forex Signals Brief for Mar 25: Stocks Look Weak

US Wrap

US equity markets were soft again yesterday with all the major indexes finishing in the red.

At the same time, the Greenback continues to see some upside which is putting pressure on both the majors and commodities, such as GOLD and SILVER.

We also have the issues with the cargo ship stuck in the Suez Canal, which in reality, we don’t know much more about. If this stays where it is, could that lead to a further spike in WTI?

It also looks like more election woes in Israel as well and this is a situation we need to monitor. Interestingly, we are hearing plenty of things happening across the Middle East at the moment, including a huge military presence as well as more North Korea missile talk. What’s on the agenda?

The Data Agenda

Yesterday we heard from Powell who was appearing to remain quite optimistic about the economic recovery.

Today we get a look at US GDP and also jobless claims, which will paint a much clearer picture of how things are progressing.

Forex Signal Update

The FX Leaders Team hit 1 winner from 3 trades, as the Greenback pushed higher for another day.

SPX – Watching

The SPX is looking a bit shaky at the moment and there are a number of global events that could certainly weigh on sentiment.

EUR/GBP – Active Signal

The EUR/GBP is still holding up and we are short here looking to ride this one out.

Cryptocurrency Update

BTC was busy yesterday, pushing higher on an Elon Musk tweet, only to completely roll over and tumble through the $54,000 level.

The overall sector looked very weak to close out the day and this is one to watch in the next 24-48 hours.