JPY & CHF. EUR & AUD.
|Jordan Lindsey||Mar 4|
Markets today are consolidating gains specifically on the JPY & CHF pairs which are signs of possible continued strength and further legs down to come. I am looking to focus on these pairs and will update you through Pro Signals if anything clear develops.
We are also seeing EUR & AUD retracing recent gains/losses.
Further Central Bank easing today with the Bank of Canada cutting rates also by 0.5 basis points following the Federal Reserver’s surprise cut yesterday.
As the NY session develops it appears risk on is once again entering the markets with JPY & CHF finally retracing a bit out of their consolidation.
Biden taking the lead as the Democratic nominee as helped the markets ease concerns of Bernie Sanders socialistic agenda.
The most important factor to focus on right now is what happens in China. As life slowly return to some semblance of “normalcy” it is important to watch if a second wave of infections occur or not.
There are other factors to focus on.
Testing will begin in the USA. Expect cases to reach into the thousands over the next couple of weeks. This could also bring a quick return of risk off, assuming this current bit of risk on lasts more than a session or two.
Also a good video from Mike Maloney you might be interested in viewing.