Sweden’s household consumption rose in February on an increase in recreation and culture, goods and services, data from Statistics Sweden reported Wednesday. Household spending rose a working day adjusted 2.3 percent year-on-year in February. The largest positive contribution came from the sector recreation and culture, goods and services by 12.3 percent annually in February. Meanwhile, retail trade, clothing and footwear decreased by 0.4 percent. On a seasonally adjusted basis, household consumption increased 0.4 percent monthly in February. During three months to February, consumption increased by 2.3 percent compared with the same period a year ago. The material has been provided by InstaForex Company – www.instaforex.com…
There is no news affecting the exchange rate of the European currency or the US dollar today. However, at the beginning of the European session, the euro fell sharply against the US dollar after postponing further negotiations of the Eurogroup on Thursday. During the speech, Eurogroup President Mario Centeno said that the negotiations will continue on Thursday, as at the end of the 16-hour conversation, EU Finance Ministers did not come to a single agreement.
Let me remind you that joint measures and efforts aimed at fighting the coronavirus and supporting the economies of the eurozone member states are now more important than ever before. It is possible that the lack of consensus on a number of issues in such difficult times may even become a turning point for the eurozone as a whole. The new Italian government has repeatedly expressed its dissatisfaction with the current laws and framework within the eurozone in the past year. Let me remind you that in March of this year, when a similar meeting failed, EU leaders instructed Finance Ministers to agree on a package of anti-crisis measures in the next two weeks, the deadline for which expires tomorrow.
We are talking about a number of measures…
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…
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…
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Minor Operational Scale (daily time frame)
We will continue to prepare options for the development of the movement of major currency instruments #USDX, EUR / USD, GBP / USD and USD / JPY (DAILY) on April 08, 2020
US dollar index
Starting April 8, 2020, the movement of the USD index #USDX will continue to develop within the equilibrium zone (98.90 – 100.00 – 101.30) of the Minor operational scale forks. The development details of the above levels are presented on the animated chart.
The breakdown of the support level of 98.90 on the lower boundary of the ISL38.2 equilibrium zone of the Minor operational scale forks will confirm the further development of the #USDX movement which will be directed to the equilibrium zone (98.50 – 97.30 – 96.00) of the Minuette operational scale forks.
On the contrary, in case of breakdown of the resistance level of 101.20 on the upper boundary of ISL61.8 equilibrium zone of the Minor operational scale forks, the development of the dollar index movement in the 1/2 Median Line channel (100.80 – 101.90 – 102.99) of the Minuette operational scale forks will be confirmed.
The movement options of #USDX on April 08, 2020 are…