Economic Data Puts the Greenback in Focus, while Coronavirus Jitters Linger
It could be another choppy day ahead for the majors. While economic data out of the U.S will influence, the majors will be in the hands of the news wires.
For the EUR
It’s a quiet day ahead on the economic calendar, with no material stats due out of the Eurozone to provide the EUR with direction.
A lack of stats will leave the EUR in the hands of the Oval Office and the news wires. While the focus will remain on the spread of the coronavirus, there is also the ongoing threat of U.S tariffs on the EU.
For the Pound
It’s also a quiet day ahead on the economic calendar, with no material stats due out of the UK to provide the Pound with direction.
The focus this week is on the Bank of England’s monetary policy decision and Brexit, as Britain prepares to enter the transition period
Calm amid China’s coronavirus storm, US data in spotlight
USD/JPY held onto minor recovery gains around 109.00 while the Antipodeans renewed multi-week lows. AUD/USD breached 0.6850 after the Australian NAB Business Survey disappointed.
EUR/USD traded close to 2020 lows on 1.1000 despite the upbeat German IFO survey. GBP/USD stalled its overnight bounce and traded flat in mid-1.30s, with all eyes on the Bank of England (BOE) base rate decision and post-Brexit trade talks with the EU
According to Trading Central (3rd party RIA) the GBPUSD could be heading DOWN to 1.2760 if it does not go ABOVE 1.3275
* Past performance is not a guarantee of future performance
https://europefx.tradingcentral.com/Product?PK_ANALYSE=10591008
| Number of Lots: | Required Margin: | Risk Management (200%): | Potential Profit/Loss 1.2760 |
|---|---|---|---|
| 1 | € 3,939.18 | € 7,878.36 | € 2,358.72 |
| 5 | € 19,695.90 | € 39,391.79 | € 11,793.60 |
| 10 | € 39,391.79 | € 78,783.58 | € 23,587.20 |
| 25 | € 98,479.48 | € 196,958.95 | € 58,968.00 |
| 50 | € 196,958.95 | € 393,917.91 | € 117,936.00 |
According to Trading Central (3rd party RIA) the EURGBP could be heading UP to 0.8776 if it does not go BELOW 0.8362
* Past performance is not a guarantee of future performance
https://europefx.tradingcentral.com/Product?PK_ANALYSE=10582777
| Number of Lots: | Required Margin: | Risk Management (200%): | Potential Profit/Loss 0.8776 |
|---|---|---|---|
| 1 | € 3,333.33 | € 6,666.67 | € 3,673.84 |
| 5 | € 16,666.67 | € 33,333.33 | € 18,369.22 |
| 10 | € 33,333.33 | € 66,666.67 | € 36,738.43 |
| 25 | € 83,333.33 | € 166,666.67 | € 91,846.08 |
| 50 | € 166,666.67 | € 333,333.33 | € 183,692.15 |
