Forex Market News Today
  • Home
  • News
  • LiveHourly
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies
No Result
View All Result
Forex Market News Today
Home Live

Forex Signals Brief for May 4: Negative Sentiment to Weigh on Markets

3 months ago
in Live
4 min read
Forex Signals Brief for May 4: Negative Sentiment to Weigh on Markets
Share on FacebookShare on Twitter


US Market Wrap

The week ended in the red for most major markets and it was sentiment that kept the sellers in control.

As the COVID-19 situation comes under control in many parts of the world, the blame game has officially begun and it looks like the US has China firmly in its sights. US Secretary of State Mike Pompeo has said China concealed the severity of the virus and this is setting things up for more conflict going forward.

At the same time, US President Donald Trump said that more tariffs were ‘certainly an option’, which was something risk-assets didn’t like the sound of.

The SPX closed out the week soft while the Greenback finished red as well. The latter has opened higher after the headlines continued over the weekend.

The Data Agenda

While the start of the week appears dominated by the sentiment and US-China back and forth, the end of the week will be dominated by jobs and the state of the US economy.

Friday is, of course, the monthly US non-farm payrolls number and this time around things are going to be messy.

The expectation is for a staggering 21 million jobs lost and for the unemployment rate to jump to 16%. While these might be Great Depression-era numbers, most are also expecting a sharp recovery as the economy reopens. However, areas such as tourism and travel won’t likely see the same amount of recovery given many countries will likely maintain strict border controls.

Elsewhere, we continue to keep an eye on WTI after OPEC and its allies agreed to record output cuts in a bid to reduce the massive supply glut. OPEC feel this could see oil reclaim $40.

Forex Signal Update

The FX Leaders Team hit 8 winners from 14 trades last week, as conditions remain volatile.

Make sure you follow our live signals as we are looking at another busy week ahead.

USD/JPY – Active Signal

The USD/JPY looks very soft on the charts and the descending triangle pattern is generally a bearish one. We are short here looking for more downside.

USD/JPY
USD/JPY – 240min.

SPX – Watching

The SPX was unable to hold the key 2,900 resistance level and sentiment has taken over. We watch and wait and see if markets can recover with all the negative headlines.

SPX
SPX – 240min.

Cryptocurrency Update

Despite the upcoming halving, BTC has been unable to hold the $9,000 level for a second time and to me, that is bearish price action.

The fact that price put in a lower high under a key level is a big bearish sign technically – but, of course, the halving is bullish.

But with price being highly correlated with risk assets recently, I would suspect we need to follow the leading indicators and sit on the bear’s side for now.

BTC
BTC –…



Go to the news source: Forex Signals Brief for May 4: Negative Sentiment to Weigh on Markets

Tags: ForexMarketsnegativeSentimentSignalsweigh
Previous Post

How The Current Coronavirus Stock Market Compares With Great Depression & Great …

Next Post

National’s Amy Adams insists she’s sticking with politics over Covid-19 crisis, …

Related Posts

Rupee surges 18 paise to 73.07 against US dollar in early trade
Live

Rupee surges 18 paise to 73.07 against US dollar in early trade

by Forex News
March 9, 2021
0

Mumbai, Mar 9 (PTI) The rupee appreciated by 18 paise to 73.07 against the US dollar in opening trade...

Read more
Gold Outlook Bullish Headed into First Quarter, with Caveats
Live

Gold Price Drops as Treasury Yields Rise, Will XAU/USD Fall Further?

by Forex News
March 8, 2021
0

https://www.youtube.com/watch?v=x1ffaDdpsYo Gold Price Outlook:Gold Price Drops as Treasury Yields Rise, Will XAU/USD Fall Further?After encountering resistance last week, gold...

Read more
Sensex, Nifty eke out gains; energy, IT stocks save the day
Live

Sensex, Nifty eke out gains; energy, IT stocks save the day

by Forex News
March 8, 2021
0

Mumbai, Mar 8 (PTI) Benchmark indices Sensex and Nifty eke out gains on Monday after two sessions of decline...

Read more
Rising crude brings an unlikely relief to RBI on forex intervention
Live

Rising crude brings an unlikely relief to RBI on forex intervention

by Forex News
March 8, 2021
0

A rise in global crude oil prices usually brings with it a host of problems for the Reserve Bank...

Read more
Rupee falls 14 paise to 73.16 against US dollar in early trade
Live

Rupee falls 14 paise to 73.16 against US dollar in early trade

by Forex News
March 8, 2021
0

Mumbai, Mar 8 (PTI) The Indian rupee slumped 14 paise to 73.16 against the US dollar in opening trade...

Read more
MTAR Technologies IPO Subscription details: Retail investors expect bumper listi…
Live

MTAR Technologies IPO Subscription details: Retail investors expect bumper listi…

by Forex News
March 8, 2021
0

MTAR Technologies IPO subscribed 200.79 times. The public issue subscribed 28.40 times in the retail category, 164.99 times in...

Read more
Dow Jones, Nasdaq 100, US Dollar, Crude Oil, ECB, BoC, Treasuries
Live

Dow Jones, Nasdaq 100, US Dollar, Crude Oil, ECB, BoC, Treasuries

by Forex News
March 8, 2021
0

Recommended by Daniel Dubrovsky What does it take to trade around data? Market sentiment was a mixed bag this...

Read more
India’s forex reserves increase by USD 689 million to USD 584.55 billion
Live

India’s forex reserves increase by USD 689 million to USD 584.55 billion

by Forex News
March 7, 2021
0

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like...

Read more
The Top 10 Forex Coaches To Follow in 2020
Live

UPDATE 1-China forex reserves fell to $3.205 trln in Feb – Yahoo Finance

by Forex News
March 7, 2021
0

UPDATE 1-China forex reserves fell to $3.205 trln in Feb Yahoo Finance Go to the news source: UPDATE...

Read more
Demand Dips For Bitcoin Are Temporary; But Lack Of Supply Is Permanent
Live

Bitcoin has been declared ‘dead’ 402 times since its inception. Here’s how you c…

by Forex News
March 6, 2021
0

Posted by: Bitcoin News Editor in Bitcoin News Wire 8 hours ago The highest number of “deaths” bitcoin recorded...

Read more
Next Post
National’s Amy Adams insists she’s sticking with politics over Covid-19 crisis, …

National's Amy Adams insists she's sticking with politics over Covid-19 crisis, ...

Subscribe
Login
Notify of
guest
guest
0 Comments
Inline Feedbacks
View all comments

Latest Forex News

Confusion over 1099 tax forms add to ongoing issues with Kentucky unemployment s…

Confusion over 1099 tax forms add to ongoing issues with Kentucky unemployment s…

1 month ago
AP Top Business News at 12:58 a.m. EST – WAVY.com

AP Top Business News at 12:58 a.m. EST – WAVY.com

4 weeks ago
If we get a fiscal package, it can weigh on inflationary concerns: Mohamed El-Er…

If we get a fiscal package, it can weigh on inflationary concerns: Mohamed El-Er…

2 months ago
California victims of EDD fraud could face big tax bills

California victims of EDD fraud could face big tax bills

1 month ago

Today Market News

Rupee surges 18 paise to 73.07 against US dollar in early trade
Live

Rupee surges 18 paise to 73.07 against US dollar in early trade

March 9, 2021
China resumes debt-reduction campaign as Covid-19 drives borrowing binge – South…
Economy

China resumes debt-reduction campaign as Covid-19 drives borrowing binge – South…

March 9, 2021
Joe Biden nominates two female generals to 4-star commands after promotions dela…
Politics

Joe Biden nominates two female generals to 4-star commands after promotions dela…

March 9, 2021
Tesla has lost a quarter-trillion in market cap in the past month as stock dives
Stock

Tesla has lost a quarter-trillion in market cap in the past month as stock dives

March 9, 2021
As project nears final approval, Vineyard Wind hopes to have offshore wind farm …
Energy

As project nears final approval, Vineyard Wind hopes to have offshore wind farm …

March 9, 2021
Companies’ intentions are good news for job seekers
companies

Companies’ intentions are good news for job seekers

March 9, 2021
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 Siteofforex.com

No Result
View All Result
  • Home
  • News
  • Live
  • Markets
  • Stock
  • Business
  • Economy
  • World
  • Politics
  • Energy
  • exchange
  • companies

© 2020 Siteofforex.com

wpDiscuz