market review 25 March 21

25 March 21

Dollar holds onto gains, vaccine truce Suez blockage, US jobless claims eyed

Markets are attempting to stabilize after Wednesday’s fall, while the dollar is taking a breather from gains. Optimism about an EU-UK solution to the vaccine row is countered by a blockage to global trade in the Suez Canal. Investors await news on US infrastructure spending plans, while jobless claims and final GDP are eyed.
Dollar breather: The greenback has paused its gains, with EUR/USD holding above 1.18 and GBP/USD consolidating below 1.37. Jerome Powell, Chairman of the Federal Reserve, reiterated his position that inflation will likely be temporary and that the recovery has a long way to run. Ten-year Treasury yields have found their feet above 1.60%.
US jobless claims are set to show a drop in the week ending March 19 and the final US Gross Domestic Product for the fourth quarter is predicted to confirm an annualized growth rate of 4.1%.
Wednesday’s release of Durable Goods Orders statistics for February disappointed with a substantial drop, yet the “deep freeze” storm may have pushed investment lower.

https://www.fxstreet.com/news/forex-today-dollar-holds-onto-gains-vaccine-truce-suez-blockage-us-jobless-claims-eyed-202103250736





EUR/USD, “Euro vs US Dollar”

EUR/USD continues trading downwards. Possibly, today the pair may fall to reach 1.1800 and then start a new growth with the target at 1.1877.

https://www.fxstreet.com/analysis/forex-technical-analysis-and-forecast-majors-equities-and-commodities-202103250751

https://www.investing.com/currencies/eur-usd-chart

GBP/USD, “Great Britain Pound vs US Dollar”

After completing the descending structure at 1.3700, GBPUSD is forming a new consolidation range around this level. Today, the pair may expand the range down to 1.3670 and then resume growing with the target at 1.3850.

https://www.fxstreet.com/analysis/forex-technical-analysis-and-forecast-majors-equities-and-commodities-202103250751

https://www.investing.com/currencies/gbp-usd-chart

USD/JPY, “US Dollar vs Japanese Yen”

USD/JPY has completed the correction at 108.98 and may later resume trading within the downtrend with the short-term target at 108.40.

https://www.fxstreet.com/analysis/forex-technical-analysis-and-forecast-majors-equities-and-commodities-202103250751

https://www.investing.com/currencies/usd-jpy-chart

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