US Market Open – Cryptocurrencies,[1]US Dollar[2], Gold,[3]Crude Oil,[4]Indices[5],
- GBP/USD[6] pushing back to 1.3000.
- EUR/USD[7] bearish behavior still evident.
- Equity markets continue to rally.
British Pound Retracing Recent Losses
GBP[8]/USD[9] touched an intraday high of 1.2990 in early turnover and continues to claw back recent losses against a strong US dollar[10]. The British Pound is advancing across a range of currencies, taking heart from yesterday’s better-than-expected UK Q4 GDP release. There are roadblocks ahead, but this week’s positive performance may suggest further gains on the horizon.
GBPUSD Tests a Key Chart Point – British Pound vs US Dollar Price Outlook[11]
Daily GBP/USD Price Chart (July 2019 – February 12, 2020)
The Euro[12] continues to fall against all majors after recent weak economic data highlighted the struggles that the ECB currently face in their effort to reboot the Euro-Zone economy. EUR/USD trades just above the 1.0910 mark while EUR/GBP[13] is testing big figure support at 0.8400.
Euro Outlook Bearish vs US Dollar on Powell Testimony, Fed Speak[14]
Equity Markets Continue to Move Ever Higher
A sea of blue in the indices space as buyers shun coronavirus fears and push markets to fresh highs. The DAX[15] has made another fresh high while the Nasdaq[16] is prepped for a run at 10,000.
Nasdaq 10,000 – It’s More Than a Psychological Level[17]
Cryptocurrencies on a Roll
The substantial gains seen in the cryptocurrency market made this year may have gone unnoticed by some, but upside momentum seems to be building. Some of the major coins/tokens are now up 100% in 2020 and
