Here is what you need to know on Monday, March 30th:
- The coronavirus pandemic keeps taking its toll on the world’s economies. As one-third of the global population is in lockdown, most of them, extending measures until mid-April. US President Trump finally decided not to put US “hot spots” on quarantine, but instead issued a travel advisory urging New York, New Jersey and Connecticut residents to refrain from non-essential domestic travel for two weeks. Meanwhile, the number of COVID-19 cases in the US has surpassed 124,000.
- The American dollar plummeted Friday alongside Wall Street and government bond yields, without a particular catalyst. However, the expansion of the outbreak in the world’s largest economy is among the reasons.
- European and commodity-linked currencies soared to weekly highs, but because of the dollar’s weakness. There are no real reasons for those to appreciate, and the next directional moves will continue to depend on the greenback strength or weakness.
- The Japanese yen appreciated although gold consolidated, this last, finishing the week at around $1,625 a troy ounce.
- Crude oil prices bounced modestly ahead of the close but settled near the multi-year lows achieved this month.
- Worrisome news over the weekend showed that, in separated events, missiles had been shoot. Saudi Arabia reported ballistic missiles were intercepted on Saturday in the sky above Saudi Arabia’s capital Riyadh and the southern city of Jazan. Also, North Korea launched short-range ballistic missiles into the ocean off its east coast on Sunday.
- Bitcoin and Ethereum struggle to find a direction; Ripple stays positive
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. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD retreats below 1.0700 after US GDP data
EUR/USD came under modest bearish pressure and retreated below 1.0700. Although the US data showed that the economy grew at a softer pace than expected in Q1, strong inflation-related details provided a boost to the USD.
GBP/USD declines below 1.2500 as USD rebounds
GBP/USD declined below 1.2500 and erased the majority of its daily gains with the immediate reaction to the US GDP report. The US economy expanded at a softer pace than expected in Q1 but the price deflator jumped to 3.4% from 1.8%.
Gold holds near $2,330 despite rising US yields
Gold stays in positive territory near $2,330 in the second half of the day on Thursday. The benchmark 10-year US Treasury bond yield is up more than 1% on the day above 4.7% after US GDP report, making it difficult for XAU/USD to extend its daily rally.
XRP extends its decline, crypto experts comment on Ripple stablecoin and benefits for XRP Ledger
Ripple extends decline to $0.52 on Thursday, wipes out weekly gains. Crypto expert asks Ripple CTO how the stablecoin will benefit the XRP Ledger and native token XRP.
After the US close, it’s the Tokyo CPI
After the US close, it’s the Tokyo CPI, a reliable indicator of the national number and then the BoJ policy announcement. Tokyo CPI ex food and energy in Japan was a rise to 2.90% in March from 2.50%.