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USD
EUR/USD
The single currency rocketed to $1.1350 following the announcement that the ECB increased its emergency bond purchase scheme by 600 billion euros to 1.35 trillion and extended the scheme to mid-2021.
GBP/USD
The Sterling surged to $1.2650, tracking a higher EUR/USD, boosted by an increase of bong-buying in the Pandemic Emergency Purchase Programme.
USD/JPY
The yen edged lower to 109.12 against the greenback by fresh surges in Treasury yields and stocks after yesterday's ECB policy statement and the U.S. claims data.
AUD/USD
The Aussie, often seen as a risk proxy in the currency market, capped below $0.6987 on reports that US President Donald Trump rekindled tension with Beijing after issuing the memo for recommendations to protect US investors from China’s failure to allow audits of US-listed Chinese companies.
USD/ZAR
The rand firmed at 17.85 against the dollar, reflecting broad optimism in financial markets as easing social distancing restrictions supported economic recovery hopes.
USD/MUR
The USD/MUR stayed put at 40.15(selling) on the domestic market.
16:30 - USD - Nonfarm Payrolls (May)
16:30 - USD - Unemployment Rate (May)
18:00 - CAD - Ivey PMI (May)
- From an Elliott Wave standpoint, USDCHF could potentially unfold into compelling impulsive Wave C of the zigzag correction of Wave (2) to a narrowing region 0.9550 (50% retracement of Wave (1)) to 0.9395 (100% projection of Wave A through B) in the near term trend, from the downside bias from April 6th high of 0.9797.
- Price could immediately start to shoot back up into Wave (3) on a longer perspective.
- Piercing above the resistance 0.9905 would endorse the structure.
- Alternatively, broader bearish invalidation of Elliott Wave Structure rest at 0.9191 of March 9th low while Relative Strength Index signals a bullish recoil higher for the pair.
