Weekly Technical Analysis For April 6th to 10th, 2020
US plunged 701k in March, a far greater collapse than the expected, -100k. The rose to 4.4% from 3.5%. The coronavirus pandemic caused massive disruptions to the global trade and labor market.
On the other hand, Euro was under selling pressure last week with the publication of the Eurozone’s final . The data showed an even deeper than feared impact from the coronavirus, and many of the prints marked the worst on record.
In the upcoming week, the Federal Reserve will from its policy meeting on Wednesday. The U.S. central bank delivered an emergency half percentage-point cut last week. The Federal Reserve said they will inject $1.5 trillion in reserves into the financial system.
The Fed’s decision to came two weeks ahead of a regularly scheduled policy meeting. The last time the Fed made a rate cut between scheduled meetings was in October 2008 at the height of the global financial crisis.
Besides the FOMC Meeting Minutes,…