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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Update after the close on Wall Street Strong USD

Article By: ,  Financial Analyst
April 21, 2020 6:10 PM

Update after the close on Wall Street-Strong USD

Good afternoon, 

Update after the close on Wall Street – Strong USD

The US Dollar was bullish against all of its major pairs on Tuesday. On the economic data front, Existing Homes Sales fell to 5.27 million homes on month in March (5.25 million homes expected), from a revised 5.76 million homes in February. On Wednesday, the Mortgage Bankers Association's Mortgage Applications data for the week ending April 17th is expected. 

Regarding currency pairs

• EUR/USD was relatively flat, the day's range was 1.0817 - 1.0880.

• GBP/USD fell 138pips to 1.2304 the day's range was 1.2248 - 1.2448

• USD/JPY gained 15pips to 107.77 the day's range was 107.28 - 107.89.

• USD/CHF rose 14pips to 0.9694 the day's range was 0.9670 - 0.9728.

• AUD/USD dropped 43pips to 0.6293 the day's range was 0.6254 - 0.6347.

Looking at U.S. indices 

• The Dow Jones Industrial Average dropped 631.56pts (-2.67%) to 23018.88. | Number of Advance: 2 | Decline: 28 |

• The S&P 500 fell 86.6pts (-3.07%) to 2736.56. | Number of Advance: 76 | Decline: 428 |

• The the Nasdaq 100 declined 323.51pts (-3.71%) to 8403. | Number of Advance: 30 | Decline: 73 |

• Regarding Gold and Crude Oil, Gold dipped $11.61 (-0.68%) to $1684.04.

• WTI Crude Oil tanked 7.39$ (-36.17%) to $13.04.

FX pair in focus

The GBP/USD broke below a prior consolidation zone and looks to be entering into a new consolidation area between 1.2350 and 1.2245. The bias remains bearish below 1.2350 unless this key intraday resistance area is broken to the upside. 


Source: GAIN Capital, TradingView

Happy Trading.


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