FxPro Daily Insight for March 25

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Market overview

US markets paused growth on Wednesday after jumping 9.4% SPX on Tuesday (strongest since 2008). Despite large-scale stimulus, it is difficult for major indexes to demonstrate back-to-back growth. SPX -1.0%, FTSE100 + 2.0%, EuroStoxx50 -0.4%.

DXY is falling for the 4th trading session, but retreated from the daily lows after stocks losing traction. EURUSD is trading slightly above 1.08. GBPUSD turned to a sharp decline from 1.1990 to 1.1770 in less than 5 hours. At the same time, commodity currencies confidently add to USD.

Gold faced growth difficulties above $1,630 after USD turned to growth earlier today and threatened the rally of gold.

Brent was turning down from the level of $ 30.50 for a second day, at $28.8 now. Fears of a collapse in demand in the coming months hold back buyers even at times of optimism in other sectors.

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The global tipping point with the spread of coronavirus has not yet arrived, maintaining a shaky foundation under market recovery.

Important events, GMT (Exp.):

12:00 UK !!! BoE Interest Rate Decision
12:30 US !!! Unemployment Claims (Mar, 750K)
12:30 US !! Goods Trade Balance (Feb, -64.5B)

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