ZuluTrade Blog

Markets Trade Mix

Market View | Monday, March 30, 2020 12:42 PM GMT

Monday’s opening is mixed as the EU market holds better than the Asian market that suffered from losses. Coronavirus spread and its latest updates are troubling the global market as well as traders. The infections have exceeded 700.000 globally while the death toll reached 34.000 but over 130.000 have been recovered. Italy is leading in the number of deaths (10.779), then Spain follows with 6.800. The US is the number 1 country in infections worldwide. 

Reviewing the latest economic data, Swiss Business Confidence fell to 92.9, the lowest since 2015 while UK Mortgage Approvals reached a 6-year high in February. The EU economic sentiment dropped significantly to 94.5 in March which is the biggest decline ever.    

Heading to the Forex market, the US Dollar is getting stronger against its counterparts. EURUSD is forming a peak on the daily chart and traders should take into consideration this candlestick formation. GBPUSD is behaving similarly to fiber.   

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EURUSD daily chart

Checking the ZuluTrade’s Traders Sentiment, the community is buying EURUSD, USDJPY, and GBPUSD while is selling USDCHF.

Today’s economic calendar includes the following news:

Germany - Harmonized Index of Consumer Prices (YoY) (Mar)


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