Trading plan for EUR/USD on April 8, 2020

The onslaught of the coronavirus seems to be mitigating: In Europe, if not the end of the pandemic, then a significant decrease in the rate of the spread of the virus is clearly observed. The number of new infections in Italy and Spain dropped to +3 to +5% per day, and the number of deaths fell to +600 to +700 per day.In US, there’s a clear slow down in the rate of the spread of the virus, as the number of new cases in New York has decreased steadily to +8% per day. Unfortunately, the total number of infected is still huge, with 142,00 in New York and 400,000 across US.In Russia, as of April 7, there were 7,500 cases and +1,154 new ones. Today, +1,125 is added. It is good that there is no acceleration over the past days. However, the growth rate (+15% per day) is still very high.Update on the markets: In the previous days, oil grew, due to the huge financial aid packages allocated by the world’s main central banks and the governments of US, EU, and Japan to support the economy.Unfortunately, this growth has run out, so oil declined today, April 8; US indices are also…

Pound – there’s absorption in the trend

Good day, dear traders! I present to your attention, a trading idea for the GBP/USD pair.
This idea is the continuation of yesterday’s plan to increase the price of the pair: https://www.instaforex.com/ru/forex_analysis/24842…
Yesterday, the pair closed with an “absorption”, confirming the bullish trend towards the target area of 1.25:
From the current prices, the risk / profit ratio is 1/1.
If you want to get more profit, I recommend choosing signals that would increase the pair in the smaller TF during the day. Keep your positions at the breakdown of the highs last week, and take profit in the round level of 1.25.
Good luck in trading and control your risks!
The material has been provided by InstaForex Company – www.instaforex.com…

S&P Lowers Australia's Rating Outlook To Negative

S&P Global Ratings revised the outlook on Australia’s rating outlook to negative from stable as coronavirus, or COVID-19, outbreak weakened its fiscal outlook. The rating agency said the negative outlook reflects a substantial deterioration of Australia’s fiscal headroom at the ‘AAA’ rating level. The outbreak of coronavirus has posed a severe economic and fiscal shock. The Australian economy is set to plunge into recession for the first time in almost 30 years, causing a substantial deterioration of the government’s fiscal headroom at the ‘AAA’ rating level. Nonetheless, the ratings were affirmed at ‘AAA’. S&P observed that the triple A rating on Australia benefit from the country’s strong institutional settings, its wealthy economy, and monetary policy flexibility. The material has been provided by InstaForex Company – www.instaforex.com…

Philippine Trade Deficit Narrows In February

The Philippine trade deficit declined in February from last year as exports rose and imports declined, data from the Philippine Statistics Authority showed on Wednesday. The trade deficit declined to $1.656 billion in February from $2.733 billion in the same month last year. Data showed that exports grew 2.8 percent year-on-year in February following a 0.5 percent rise in the last year. The shipment of electronic goods gained 3.4 percent in February. Imports logged a double digit decrease of 11.6 percent annually in February, after a 2.9 percent rise in the previous year. The material has been provided by InstaForex Company – www.instaforex.com…

GBP/USD. April 8. COT report: both hedgers and speculators are getting rid of the pound. Long contracts are closed in large

GBP/USD – 1H.

Hello, traders! According to the hourly chart, the GBP/USD pair performed a reversal in favor of the British dollar and anchored above the weak downward trend line. Thus, the weak “bearish” mood was replaced by an equally weak “bullish” one, because, as we can see, the pair’s quotes do not tend to grow very much. Moreover, at the beginning of the European session, there is even a slight drop. Based on this, I recommend that you refer to the older charts at this time to get the necessary information. The hourly chart is currently uninformative. From the main news of the past day, I highlight reports that British Prime Minister Boris Johnson, according to members of the government, is not connected to a ventilator, although he is in the intensive care unit, and he has not been diagnosed with pneumonia. Thus, Johnson’s life is now in no danger.
GBP/USD – 4H.

On the 4-hour chart, the GBP/USD pair performed a reversal in favor of the English currency after the formation of a bullish divergence in the CCI indicator and anchored above the corrective level of 50.0% (1.2303). Thus, the growth process can be continued on April 8 in the direction of…

Japan Feb. Core Machine Orders Climb 2.3%

Core machine orders in Japan rose a seasonally adjusted 2.3 percent on month in February, the Cabinet Office said on Wednesday – standing at 858.5 billion yen. That exceeded expectations for a decline of 2.9 percent following the 2.9 percent increase in January. On a yearly basis, core machine orders fell 2.4 percent – also beating expectations for a fall of 3.0 percent following the 0.3 percent drop in the previous month. For the first quarter of 2020, core machine orders are forecast to have fallen 2.0 percent on quarter and 0.6 percent on year. Government orders plummeted 39.1 percent on month and 3.6 percent on year, while orders from overseas added 2.7 percent on month and fell 10.2 percent on year and orders through agencies eased 2.7 percent on month and 1.7 percent on year. The total value of machinery orders received by 280 manufacturers operating in Japan shed 6.9 percent on month in February. Also on Wednesday, the Ministry of Finance said that Japan had a current account surplus of 3,168.8 billion yen in February – up 21.2 percent on year. That beat forecasts for a surplus of 3,067.2 billion yen and was up from 612.3 billion yen…

Japan Has Y3,168.8 Billion Current Account Surplus In February

Japan had a current account surplus of 3,168.8 billion yen in February, the Ministry of Finance said on Wednesday – up 21.2 percent on year. That beat forecasts for a surplus of 3,067.2 billion yen and was up from 612.3 billion yen in January. The trade balance reflected a surplus of 1,366.6 billion, exceeding expectations for 1,215.0 billion yen following the 985.1 billion shortfall in the previous month. Exports were up 0.4 percent on year to 6,332.2 billion yen, while imports tumbled an annual 14.6 percent to 4,965.6 billion yen. The material has been provided by InstaForex Company – www.instaforex.com…

Japan Core Machine Orders Rise 2.3% In February

Core machine orders in Japan were up a seasonally adjusted 2.3 percent on month in February, the Cabinet Office said on Wednesday – coming in at 858.5 billion yen. That exceeded expectations for a decline of 2.9 percent following the 2.9 percent increase in January. On a yearly basis, core machine orders fell 2.4 percent – also beating expectations for a fall of 3.0 percent following the 0.3 percent drop in the previous month. For the first quarter of 2020, core machine orders are forecast to have fallen 2.0 percent on quarter and 0.6 percent on year. The material has been provided by InstaForex Company – www.instaforex.com…

Japan Core Machine Order Data Due On Wednesday

Japan will on Wednesday release February figures for core machine orders and current account, setting the pace for a modest day in Asia-Pacific economic activity. Core machine orders are tipped to slide 2.9 percent on month and 3.0 percent on year after rising 2.9 percent on month and easing 0.3 percent on year in January. The current account is expected to reflect a surplus of 3,067.2 billion yen following the 612.3 billion yen surplus in January. The trade balance is tipped to show a surplus of 1,213.6 billion yen surplus following the 985.1 billion yen deficit a month earlier. Japan also will see March results for the eco watchers survey. The index for current conditions is expected to come in at 22.0, down from 27.4 in February. The outlook is pegged at 19.0, down from 24.6. Australia will provide February numbers for home loans, with forecasts suggesting an increase by 2.0 percent after rising 4.6 percent in January. The material has been provided by InstaForex Company – www.instaforex.com…