EUR/USD is trading above 1.10, recapturing the level as the dollar retreats. After a three-day rally, stocks are cooling but the safe-haven dollar is still under pressure. Coronavirus headlines are eyed.
The sense of extreme fear is divergent with the levels of the mathematical averages. Bitcoin dominance ratio moves at a structural pivot level and can lead to a trend change. XRP is the winner of the day, but far away from fleeing out of the bearish scenario.
Gold edged lower through the early European session and is currently placed near the lower end of its daily trading range, just below $1620 level. Concerns over an imminent global recession might help limit losses.
Unemployment is engulfing the US – weekly jobless claims jumped to 3.283 million, an increase of 1,053%. The four-week moving average is near one million, also surpassing the worst since the Great Financial Crisis.