The US dollar weakens 0.7% against the euro and 0.4% against the yen. US stocks rose more than 1% and 10-year Treasury yields rose above 0.72% even as weekly unemployment data showed 6.6 million Americans filed for benefits. The Fed's $2.3 trillion bond buying program along with signs the coronavirus's spread is slowing in hot zones "has imbued financial markets with newfound optimism that the economic impact of the virus will be far less severe than originally thought--prompting investors to migrate out of US dollar denominated safe-haven assets," Cambridge Global Payments. "The trade-weighted US dollar index (DXY)"--off 0.6% today--"has eased off the highs witnessed in mid-March, and could continue to run lower as global financial conditions ease."
ADVANCED FOREX PATTERNS (AFP) helps you to master 10 very powerful Forex patterns available to the Forex trader.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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