This past week, economic data took a backseat to actions being taken by governments to contain the spread of the coronavirus pandemic which has crippled the world. In case you missed it, there was a lot of money involved.
EURUSD has enjoyed a 3% rally so far for this week. However, technicals suggest that the bullish run on the currency pair could soon be over.
The Nikkei 225 and other Asian stock indices traded higher today mimicking the performance of Wall Street last night. But the JPY is leading currencies. In fact, EURJPY presents a strong technical setup for a sell.
GBPUSD has recouped most of its losses for the past few trading days. Yesterday marked the third consecutive day of gains for the currency pair, can it extend its winning streak even further?
AUDUSD is trading higher in today’s Asian session, following an announcement from G20 leaders and more fiscal stimulus from Australia. As of this writing, the currency pair is leading gains among the majors. It is up by 0.57% or 35 pips, just below the 0.6100 handle.