Forex Today: A bit of relief, but dollar still leads


Here is what you need to know on Friday, March 20th:

  • The EUR/USD pair fell to its lowest in almost two years, pricing at 1.0654 and settling not far above this last. Despite ECB’s QE and better performance of European and American equities, speculative interest continued to demand the safe-haven dollar.
  • The Bank of England had an emergency meeting and announced a rate cut to 0.10% and an extension of QE worth £200 billion. The UK government announced its preparing to put London in lockdown, and even mobilizing military personnel to support civil authorities as part of a new “Covid Support Force.” PM Johnson is now moving to slow the spread of the virus, although his softer approach in the previous week, took its toll on the Pound. GBP/USD closed US session in the red, just above 1.15.
  • The dollar’s demand and the better performance of equities sent USD/JPY to its highest since last February. The pair trades at around 110.60, despite US Treasury yields, retreated modestly.
  • The AUD/USD peaked at 0.5964 and bottomed at 0.5506, a wide intraday range amid RBA’s decision, employment data, and persistent demand for the greenback. Volatility indicates hesitating sellers.
  • Crude oil prices recovered up over 20% the barrel, although considering, the latest slump, the advance is moderate. WTI settled above $25.00 a barrel.
  • Crypto Today: Bitcoin bulls have revived with $6000 the gateway to a recovery

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Stop losing your money! 
Learn to trade with us!

24/7 signals + Webinars    

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1900 as dollar rebounds amid risk-aversion

EUR/USD is trading below 1.1900, retreating further from two-week highs of 1.1927 amid resurgent haven demand for the US dollar whilst the Treasury yields recover. Concerns about vaccines in Europe outweigh the Fed's dovish message.

EUR/USD News

GBP/USD struggles around 1.37 on dollar strength, Brexit and covid concerns

GBP/USD is trying to hold onto 1.37, trading near the March lows. The US dollar is rebounding the from dovish Fed-induced blow. Concerns about Britain's vaccine supplies and Brexit-related issues are weighing on sentiment.

GBP/USD News

XAU/USD trades as a function of yields, bounces at $1730 support

Spot gold (XAU/USD) prices have seen choppy price action this Friday, dropping from Asia Pacific levels in the upper-$1750s to lows around $1730, before recovering back to the mid-$1740s in recent trade. 

Gold News

Cardano’s Alonzo update might catalyze ADA price for 78% upswing

IOHK revealed Alonzo, the next protocol update for the Cardano blockchain. The upgrade will build on top of the recent releases like Mary, Allegra and so on to bring smart contract capabilities. ADA price falters but holds up as buyers eye a 78% bull run to record levels.

Read more

S&P 500: High high and away, it's the running of the bulls as PPI Freezes up

Up up and away as bulls push more record highs in equity markets. In the short term nothing, it appears, is clouding the picture. Or is it! The ten year yield reawakens with a fairly sharp rise back toward 1.7%.

Read more

Forex MAJORS

Cryptocurrencies

Signatures