A near empty calendar day to end the week in Europe


French and Italian consumer confidence data the only releases of note

Dollar

The focus is going to remain on coronavirus headlines and the recent shift in the risk/dollar momentum, with some month-end rebalancing at play as well.

Central banks and governments can take heart that their recent actions have helped to inject some calm into the market, with the Fed and ECB doing their part to relieve dollar funding pressures and the bond market selloff respectively.

As we look to end the week, the greenback is on the back foot as we start to see shifts in near-term bias in dollar pairs and that may lead to further weakness for now.

USD/JPY is one to watch as the yen looks to have gotten its groove back, but price is now testing the 200-day moving average and that is a key level to keep an eye on.

0745 GMT – France March consumer confidence data

Prior release can be found here. With business confidence slumping heavily, expect consumer morale to also take a massive hit due to the fallout from the virus outbreak.

0900 GMT – Italy March consumer confidence index

An indication of consumer and economic sentiment, which should see a sharp decline amid the virus outbreak situation and the lockdown measures in Italy.

That’s all for the session ahead. I wish you all the best of days and  good luck with your trading!
ForexLive



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