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Greenback holds gains as Powell shuns negative rates, Australian dollar slips after jobs plunge

The dollar held gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates.

Among Asian currencies, the Australian dollar fell on data showing the country shed jobs in April at the fastest pace on record, suggesting more monetary and fiscal easing may be needed to support the economy.

The focus will shift to economic data from the United States and Europe in the next two days for more clues on the depth of the downturns there, while investors will closely watch China’s activity gauges for signs on how long it may take to emerge from the sharp shock caused by the coronavirus outbreak.

“The dollar managed to bounce back after Powell’s comments on negative rates, but now the dollar’s bias is fairly neutral,” said Takuya Kanda, general manager of the research department at Gaitame.com Research Institute in Tokyo.

“There could be some safe-have flows into the dollar, but everyone is facing the same economic problems caused by the coronavirus.”

The dollar traded at $1.0811 against the euro on Thursday following a 0.3% gain in the previous session.

Against the pound, the greenback was quoted at $1.2212, close to a five-week high.

The dollar bought 0.9729 Swiss franc after gaining 0.3% on Wednesday.

The greenback was little changed at 106.88 yen.

https://www.cnbc.com/2020/05/14/forex-markets-coronavirus-economic-data-in-focus.html

According to Trading Central (3rd party RIA) the USDJPY is short positions below 109.35 with targets at 105.15 & 103.10 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10738235

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 105.15
1€ 3,083.56€ 1,541.78€ 1,479.00
5€ 15,417.82€ 30,835.65€ 7,395.00
10€ 30,835.65€ 61,671.29€ 14,790.00
25€ 77,089.12€ 154,178.23€ 36,975.00
50€ 154,178.23€ 308,356.46€ 73,950.00

According to Trading Central (3rd party RIA) the GBPUSD is short positions below 1.2640 with targets at 1.2160 & 1.1950 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10738236

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1.1950
1€ 3,762.23€ 1,881.11€ 2,313.25
5€ 18,811.14€ 37,622.27€ 11,566.25
10€ 37,622.27€ 75,244.54€ 23,132.50
25€ 94,055.68€ 188,111.36€ 57,831.25
50€ 188,111.36€ 376,222.72€ 115,662.50

According to Trading Central (3rd party RIA) the USDCHF is long positions above 0.9590 with targets at 0.9795 & 0.9900 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10738237

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.9900
1€ 3,085.85€ 1,542.92€ 1,587.00
5€ 15,429.24€ 30,858.48€ 7,935.00
10€ 30,858.48€ 61,716.97€ 15,870.01
25€ 77,146.21€ 154,292.41€ 39,675.02
50€ 154,292.41€ 308,584.83€ 79,350.05