Viral optimism leads risk sentiment higher over last 24hrs
Erik April 7th, 2020
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- S&P futures up 10% in 24hrs, US 10yr yields up 10bp, USDCAD falls below 1.4000.
- Japan’s soft emergency declaration + confident RBA rate hold adds to “risk-on”.
- Focus turns to today’s European and US coronavirus updates + Eurogroup meeting.
- UK PM Boris Johnson now in intensive care unit, but not on a ventilator.
- USDCAD finally settles into 1.39-1.4200 range trade. AUDUSD breaks above 0.6120s.
- GBPUSD working on bullish outside day pattern. EURUSD surges to 1.0910s resistance.
- USDJPY technical looking more mixed, as traders weigh competing themes.