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US Calls for Pause on J&J Vaccine After Clotting Cases - NYT

Real Time News
  • 🇬🇧 NIESR Monthly GDP Tracker (MAR) Actual: -1.5% Previous: -1.6% https://www.dailyfx.com/economic-calendar#2021-04-13
  • As has proved to be the case in the EU, mishandling PR around a vaccine (the other prominent adenovirus cocktail, Oxford/AZN) can increase vaccine hesitancy by hampering trust. I think the @CDCgov will allow $JNJ again soon, but it may be too late; the bell can’t un-rung.
  • If I’m understanding $JNJ numbers correctly, these rare blood clots have appeared in 6 out of 6.8 million doses, or 0.00008%. In the general pop, deadly blood clots appear in roughly 1 or 2 per 1000 people, or 0.1%-0.2% (per @CDCgov). At a glance, pausing $JNJ seems wrong.
  • Initial reaction sees equities come under pressure with treasuries picking - Modest jump in Japanese Yen across the board https://t.co/wgS7ha42BI
  • US calls for pause on J&J vaccine after clotting cases- NYT
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.36%, while traders in France 40 are at opposite extremes with 75.40%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/aAIOaR5TbE
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 1.02% Silver: 0.42% Gold: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/irypduGm1S
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.07% 🇳🇿NZD: 0.06% 🇯🇵JPY: 0.05% 🇪🇺EUR: -0.13% 🇨🇦CAD: -0.18% 🇨🇭CHF: -0.34% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/inXDMThUZd
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/xrWKTp7SzU
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: France 40: 0.33% Germany 30: 0.28% Wall Street: 0.18% US 500: 0.13% FTSE 100: -0.19% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uRvdwUEYPt
ECB Sparks Euro Relief Rally- AUD Weakness in Focus Ahead of NFP

ECB Sparks Euro Relief Rally- AUD Weakness in Focus Ahead of NFP

David Song, Strategist

Talking Points:

- EUR/USD Relief Rally to Gather Pace as ECB Buys More Time.

- AUD/USD Risks Further Losses as RSI Dips Back Into Oversold Territory.

- USDOLLAR Remains Overbought Ahead of Non-Farm Payrolls (NFP) Report.

For more updates, sign up for David's e-mail distribution list.

EUR/USD

EUR/USD Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • EUR/USD squeezes higher as European Central Bank (ECB) fails to deliver new round of monetary stimulus; bullish engulfing pattern may highlight larger relief rally for euro.
  • Nevertheless, long-term outlook remains bearish as price & the Relative Strength Index (RSI) retain the downward trends; will watch former support around 1.2610-20 (61.8% expansion) for new resistance.
  • DailyFX Speculative Sentiment Index (SSI) shows retain crowd remains net-long EUR/USD following the ECB meeting, with the ratio currently standing at +1.09.

AUD/USD

AUD/USD Daily Chart
  • AUD/USD continues to test channel support as it slips to a fresh monthly low of 0.8354; downside targets remain favored as the RSI appears to be pushing back into oversold territory.
  • Despite the Reserve Bank of Australia’s (RBA) pledge for a period of interest rate stability, seeing growing bets for a rate cut in 2015 following the dismal 3Q Gross Domestic Product (GDP) report.
  • Will retain the approach to sell-bounces in AUD/USD, with the next downside region of interest coming in around the 0.8300-0.8310 (78.6% expansion).

Join DailyFX on Demand for Real-Time SSI Updates Across the Majors!

Read More:

Key EURUSD Scalp Targets Heading Into ECB / NFPs

Gold Stalls Near Key Resistance After Largest Rally in Over 2 Years

USDOLLAR(Ticker: USDollar):

Index

Last

High

Low

Daily Change (%)

Daily Range (% of ATR)

DJ-FXCM Dollar Index

11406.68

11452.62

11392.25

-0.24

114.80%

ECB Sparks Euro Relief Rally- AUD Weakness in Focus Ahead of NFPUSDOLLAR Daily Chart

Chart - Created Using FXCM Marketscope 2.0

  • Dow Jones-FXCM U.S. Dollar Index struggling to hold its ground after tagging a fresh monthly high of 11,453, (61.8% expansion); at risk for a larger pullback should the RSI fall back from overbought territory.
  • Nevertheless, the highlight anticipated Non-Farm Payrolls (NFP) report may heighten the appeal of the greenback as employment is expected to increase another 230K while wage growth is expected to uptick to an annualized 2.1%.
  • Lack of momentum to break above 11,453 (61.8% expansion) may spur a near-term correction, with former resistance around 11,120 (161.8% expansion) to 11,138 (61.8% expansion) in view.

Join DailyFX on Demand for Real-Time SSI Updates!

Release

GMT

Expected

Actual

Challenger Job Cuts (YoY)

12:30

--

-20.7%

Initial Jobless Claims

13:30

295K

297K

Continuing Claims

13:30

2318K

2362K

Fed's Mester Gives Opening Remarks at Conference in Washington

13:30

Fed's Brainard Speaks on Financial Stability in Washington

17:30

Click Here for the DailyFX Calendar

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com. Follow me on Twitter at @DavidJSong.

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