- The US Dollar continued to fall lower against every major currency yesterday, with the Euro rising notably strongly against it in the EUR/USD currency pair. The bearish Dollar move runs counter to the long-term trend, so could be prone to a major reversal.
- Stock markets rose yesterday, but have weakened during the Asian session.
- Cryptocurrencies, including Bitcoin/USD, are still not rising convincingly. However, Bitcoin’s key support level at $28,607 has continued to hold. This suggests that the line of least resistance in Bitcoin is likely to be upwards, so we may see a rise in value here over the coming days.
- Commodities mostly rose yesterday, especially agricultural commodities, but even the best performers are off their recent highs.
- There will be a release later today of the Reserve Bank of New Zealand’s Cash Rate and Monetary Policy Statement, which could trigger price movement in the New Zealand Dollar.
- There will be a release today of German Flash Services and Manufacturing PMI data, which could trigger price movement in the Euro.
- Daily new coronavirus cases globally rose last week after falling for eight weeks.
- It is estimated that 65.7% of the world’s population has received at least one dose of a coronavirus vaccination, while approximately 6.7% of the global population is confirmed to have contracted the virus at some time, although the true number is highly likely to be much larger.
- Total confirmed new coronavirus cases worldwide stand at over 528.2 million with an average case fatality rate of 1.20%.
- The rate of new coronavirus infections appears to now be significantly increasing only in Belize, Chile, the USA, Jamaica, Panama, Portugal, and Taiwan.