Signs of peaking in the coronavirus outbreak worldwide and better than feared Chinese Trade data helped boost the sentiment in Asia this Tuesday. The risk friendly market environment dulled the attractiveness of the safe-havens – US dollar and gold. With the US and some of the Asia-pacific countries mulling re-opening a part of their economies amid declining death toll, the Asian equities rallied with the US stock futures while Gold prices extended correction from a new seven-year peak of $1725.69. Amid broad dollar weakness, EUR/USD extended gains above 1.0900 while the cable also remained strongly bid above 1.2550 despite expectations of lockdown extension in the UK. Meanwhile, USD/JPY traded on the defensive around 107.65 region. The commodity-currencies benefited the most amid the recent surge in gold, oil and copper prices. AUD/USD clocked a fresh five-week high near 0.6430 while the kiwi regained 0.6100. USD/CAD dropped below 1.3900 as oil prices rebounded, with WTI back above the 22 handle. Main topics in Asia UK’s Raab suggests UK lockdown could last at least another month – The Guardian Saudi Energy Minister: effective global oil cuts above 19 million bpd – Reuters US President Trump: Strategy to slow the coronavirus spread is working Trump: We’re very close to completing a plan to open our country, hopefully even ahead of schedule IMF to provide immediate debt service relief to 25 member countries Texas oil and gas regulators to meet Tuesday morning to consider oil production limits Reported COVID-19 cases around the world surpassed 2 million China reports 89 new coronavirus cases in the mainland on April 13 vs 108 a day earlier NZ FinMin Robertson: Talking with industries to allow work to resume NAB Business Confidence Index slumps to -66 in March China’s Trade Balance (CNY): Returns to surplus in March, imports pop while exports drop China’s March Trade data (USD): Surplus beats estimates as imports drop marginally Japan’s Aso: Will allow firms to extend deadline for submission of securities report to end-Sept Key focus ahead EUR/USD rises on broad-based dollar weakness EUR/USD gains as signs of peaking in the virus outbreak weigh over the US dollar. Above-forecast China March yuan-denominated trade data is supporting risk reset. The spot appears on track to challenge the 50-day average resistance. GBP/USD: Firmer above 1.2550 despite fears of extended lockdown in the UK GBP/USD refreshes the monthly top amid the broad US dollar weakness. Coronavirus keeps flashing red signals, comparatively more for the US. The UK Deputized leader Raab signals one more month of lockdown. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Asian stocks register mild gains during full markets FX Street 2 years Signs of peaking in the coronavirus outbreak worldwide and better than feared Chinese Trade data helped boost the sentiment in Asia this Tuesday. The risk friendly market environment dulled the attractiveness of the safe-havens – US dollar and gold. With the US and some of the Asia-pacific countries mulling re-opening a part of their economies amid declining death toll, the Asian equities rallied with the US stock futures while Gold prices extended correction from a new seven-year peak of $1725.69. Amid broad dollar weakness, EUR/USD extended gains above 1.0900 while the cable also remained strongly bid above 1.2550 despite expectations… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
