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Dollar fights back as crude crash continues, gradual reopening in focus, US data eyed

The crude crash continues with WTI falling below $11 and Brent getting carried under $20. According to Goldman Sachs, storage may fill up in several weeks, forcing a broader cut, which would eventually lead to prices recovering in June. Around 60 tankers are floating around Singapore, unable to unload oil.

Tension is mounting ahead of the European Central Bank’s meeting on Thursday, which may offer additional support to Europe’s beleaguered economies. Spain’s Unemployment is due out later on.

The Federal Reserve has announced a loosening of conditions in buying municipal debt, allowing smaller cities to participate in the scheme. The news comes ahead of the first scheduled meeting since January.

The New Zealand dollar has dropped amid growing speculation that the Reserve Bank of New Zealand will set negative rates. The bank previously opened the door to debt monetization. The fall of the kiwi has somewhat weighed on the Aussie. Both currencies gained on Monday after reporting significant achievements in curbing the outbreak.

https://www.fxstreet.com/news/forex-today-dollar-fights-back-as-crude-crash-continues-gradual-reopening-in-focus-us-data-eyed-202004280540

According to Trading Central (3rd party RIA) the NZDUSD is short positions below 0.6048 with targets at 0.5938 & 0.5906 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10717218

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 0.5906
1€ 2,783.96€ 1,391.98€ 1,089.49
5€ 13,919.82€ 27,839.64€ 5,447.47
10€ 27,839.64€ 55,679.29€ 10,894.94
25€ 69,599.11€ 139,198.22€ 27,237.35
50€ 139,198.22€ 278,396.44€ 54,474.70

Gold falls 1% as nations plan to ease coronavirus lockdowns

Gold fell more than 1% on Tuesday as some countries planned to gradually ease coronavirus restrictions, although recession concerns and a retreat in riskier assets kept the bullion near the $1,700-level.

Spot gold slipped 1.0% to $1,697.31 per ounce by 0348 GMT. U.S. gold futures fell 0.6% to $1,713.00 per ounce.

“The fact that we’re seeing these attempts from different countries to at least partially reopen is providing some downside to gold,” said ING analyst Warren Patterson.

https://www.cnbc.com/2020/04/28/gold-markets-coronavirus-pandemic-in-focus.html

According to Trading Central (3rd party RIA) the GOLD is short positions below 1711.00 with targets at 1691.00 & 1678.00 in extension.

* Past performance is not a guarantee of future performance

https://europefx.tradingcentral.com/Product?PK_ANALYSE=10717759

Number of Lots:Required Margin:Risk Management (50%):Potential Profit/Loss 1678
0.5€ 3,927.91€ 1,963.96€ 1,016.64
1€ 7,855.82€ 3,927.91€ 2,033.27
5€ 39,279.11€ 19,639.56€ 10,166.36
10€ 78,558.23€ 39,279.11€ 20,332.72
20€ 157,116.45€ 78,558.23€ 40,665.43