Commodity Currencies spike in spite of pandemic peak

Daily Update - 9th April 2020

Yesterday’s Markets

• Germany 10 Year Bonds
• US EIA Crude Oil Stocks & FOMC Minutes

Yesterday’s Explained

Germany released their 10 Year Bonds which resulted negative pushing the Euro off the edge against the Dollar. Also, further negative resulted reports from Germany signals are rough patch for the Euro Bloc since Germany has been the power house of the Euro Zone.

By Mid-noon US released their EIA Crude Oil Stock which resulted negative and showing signs of a Global Slowdown on the supply and demand of the Oil Sector followed by to finish off the day US released their FOMC Minutes.

 

 

Today’s Markets

• GBP Gross Domestic Product
• Germany Trade Balance & ECB Monetary Policy Meeting Accounts
• US Initial Jobless Claims, Michigan Consumer Sentiment Index & US OPEC Meeting

Today’s Explained

GBP Gross Domestic Product resulted negative derailing the gains against the Dollar and followed by Germany trade balance resulted positive but regardless the markets are yet focused on the Safe Haven status of the Dollar against the rivals.

Finally, to conclude the busy day US Initial Jobless Claims will give us an indication on the economic slowdown after the pandemic and the job sector condition.

Followed by the Michigan Consumer Sentiment Index which is a key event looked upon by investors to get an insight on the consumer sentiment and their purchasing power during this quarter.