Yen Stays Solid, Mixed NFP Data Overwhelmed by Trump Coronavirus Infection

Yen Stays Solid, Mixed NFP Data Overwhelmed by Trump Coronavirus Infection

Global markets are clearly in no-risk mode ahead of the close of the week. Mixed US employment data has largely been ignored. All attention is focused on the development of the coronavirus infection of US President Donald Trump and their impact on the presidential elections, which will be held in just a month.

The yen is currently the strongest for today but has not yet broken through a single important level. Sterling, dollar, and both. On the other hand, commodity currencies are the weakest because of the Australian dollar.

Technically, minor support at 104.92 in USD/JPY remains in focus, and a break could either pull other Yen crosses down, push the dollar down, or both. The 1920 resistance for gold is another level to watch out for, which could mean a return to the dollar selloff. As for stocks, a short-term rebound in the S&P 500 is still safe if it could close above the 55-day EMA at 3318. But a close lower could cause more trouble next week.
After Experiencing “Slight Indications,” Trump Is Transferred to a Hospital
US President Donald Trump is transported to the Walter Reed National Military Medical Center. It is argued that this is a precautionary measure and that the US leader will be able to carry out his duties in the hospital’s private office.

The naval helicopter, which is the president’s private helicopter, was used to transport the President to the hospital. Trump has a medical center in the White House and it would be interesting to see what the president needs that he doesn’t have in the White House. It is also suspicious that the US administration waited for the market to close to await the announcement.

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Author : Azeez Mustapha


Azeez Mustapha is an experienced author, trader, markets analyst, signals strategist, and funds-manager.