fxsoriginal  Daily market outlook on major

Update Time: 08 Apr 2021 09:30GMT

USD/JPY - 109.51

Although the dollar's intra-day break below yesterday's low at 109.59 signals decline from March's 1-year peak at 110.96 remains in progress and marginal weakness from here is likely to be seen, reckon 109.30/35 would contain downside due to near term loss of momentum and bring a much-needed rebound later, above 109.95/00 would retain bullishness for gain to 110.15.

On the downside, only below 109.10/15 would risk one more fall to 108.90/95 before prospect of a rebound later.

On the data front, U.S. will release weekly jobless claims data with street forecast at 680k versus prior readings of 719k. We also have a few Fed officials due to speak with focus on Federal Reserve Chairman J. Powell scheduled to speak at 16:00 GMT in virtual International Monetary Fund Seminar.

Trendsetter does not warrant or guarantee the accuracy, timeliness or completeness to its service or information contained therein. Trendsetter does not give, whatsoever, warranties, expressed or implied, to the results to be obtained by using its services or information it provided. Users are trading on their own risk and Trendsetter shall not be responsible under any circumstances for the consequences of such activities. Trendsetter and its affiliates, in no event, be liable to users or any third parties for any consequential damages, however arising, including but not limited to damages caused by negligence whether such damages were foreseen or unforeseen.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD holds gains above 1.2050 amid dollar weakness

EUR/USD is trading above 1.2050, holding onto its substantial gains. The dollar remains on the back foot despite an uptick in US bond yields. European regulators are set to rule on J&J's vaccine and US infrastructure news is awaited. 

EUR/USD News

GBP/USD retreats from 1.40 amid upbeat UK jobs figures

GBP/USD is trading below 1.40, off its highs as the dollar edges higher. Earlier, the UK reported a drop in the unemployment rate to 4.9%, better than expected. The Claimant Count Change also beat estimates with 10.1K. 

GBP/USD News

XAU/USD remains pressured below $1770 amid higher Treasury yields

Rising Treasury yields outweigh the DXY’s sell-off, weighing on Gold. XAU/USD remains poised to test the 100-HMA support. Recapturing the 50-HMA Is critical to negating the downside bias.

Gold News

Ripple finds foothold for 60% upswing

XRP price has sliced through the immediate demand barrier flipping it into a supply zone. Ripple’s recent jab at breaching this area has failed, creating a double bottom formation on the 6-hour chart.

Read more

S&P 500 (SPX) Update: Equity markets take a well deserved breather, crypto stocks slide

Equity markets took a much-needed break from setting record highs on Monday. Tesla suffered a steep 5% fall after reports of a crash with no one at the wheel. Have a Coke and a smile was up 1% as KO smashed earnings estimates.

Read more

Majors

Cryptocurrencies

Signatures