Moody’s Investors Service lowered its GDP forecast for South Africa, sparking fears that the March credit review will see the country’s credit rating downgraded to junk.
The following are the most recent pieces of Forex technical analysis from around the world. The Forex technical analysis below covers the various currencies on the market and the most recent trends, technical indicators, as well as resistance and support levels.
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The Euro has gone back and forth during the trading session on Thursday, bouncing around the 1.08 level.
The US dollar has rallied a bit during the trading session yet again on Thursday against the Japanese yen.
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The S&P 500 fell during the trading session on Thursday, showing signs of weakness yet again, but at the same region we continue to see buyers come back in and lift this market.
The Australian dollar traded between the 0.67 level and the 0.63 level during the financial crisis 12 years ago, and it now looks as if we are ready to go back into that area again.
The NASDAQ 100 has fallen a bit during the trading session on Thursday, as we continue to see a bit of cautious behavior coming out of the marketplace
The British pound has initially fallen during the trading session on Thursday but did bounced just a bit to get back some of the losses.
The West Texas Intermediate Crude Oil market has gone back and forth during the trading session, even though we had a very strong inventory figure coming out of the United States.
Natural gas markets shot higher during the trading session on Thursday, reaching towards the 50 day EMA but has pulled back to show signs of exhaustion.
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The US dollar shot straight up in the air against Mexican peso during the trading session on Thursday, clearing the 18.80 peso level.
Gold markets have gone back and forth during the trading session on Thursday, as we had broken to a fresh, new high
Singapore announced a massive S$6.4 billion financial aid package in response to Covid-19, placing the country on track to record the biggest budget deficit since 1997.
Preliminary Australian PMI data for February disappointed, showing all three sub-components in recessionary territory below the 50.0 level.
Eurozone economic data has been led to a series of disappointments by Germany, which has enforced the European Central Bank’s monetary policy designed to weaken the Euro.
In the best daily performance of the USD/JPY pair, the pair achieved its gains during yesterday's session, starting from the 109.83 support, reaching the 111.58 resistance, where it is also stable at the time of writing, and is the highest level in more than eight months.