Charts Today – 02 Apr 2019 – Stocks rise continues, crude oil makes new highs, Bitcoin jumps
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Dollar Index short term bullish including against the safe-haven Yen.
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Eurodollar short term bearish. Sterling weaker with Brexit uncertainty, downside target $1.26.
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US stocks push much higher overnight. US set to open flat today based on US futures.
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UK blue chips and midcaps up. Germany up but French chart lead continues.
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Japan up. China steady after activating big upside targets yesterday. India still strong.
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Crude oil making new 2019 high on stronger global sentiment.
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Gold short term bearish on risk aversion easing.
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US bond yields turn to short term bullish after big falls last week. But turning long term bearish.
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German bond price rises ease on short term strengthening of yields.
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Bitcoin jumps 14%.
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EUR/USD clings to daily gains above 1.0650
EUR/USD gained traction and turned positive on the day above 1.0650. The improvement seen in risk mood following the earlier flight to safety weighs on the US Dollar ahead of the weekend and helps the pair push higher.
GBP/USD recovers toward 1.2450 after UK Retail Sales data
GBP/USD reversed its direction and advanced to the 1.2450 area after touching a fresh multi-month low below 1.2400 in the Asian session. The positive shift seen in risk mood on easing fears over a deepening Iran-Israel conflict supports the pair.
Gold holds steady at around $2,380 following earlier spike
Gold stabilized near $2,380 after spiking above $2,400 with the immediate reaction to reports of Israel striking Iran. Meanwhile, the pullback seen in the US Treasury bond yields helps XAU/USD hold its ground.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price shows no signs of directional bias while it holds above $60,000. The fourth BTC halving is partially priced in, according to Deutsche Bank’s research.
Week ahead – US GDP and BoJ decision on top of next week’s agenda
US GDP, core PCE and PMIs the next tests for the Dollar. Investors await BoJ for guidance about next rate hike. EU and UK PMIs, as well as Australian CPIs also on tap.