Global stock markets are trying to creep up on the wave of broad stimulus measures announced by the world Central Bank, led by the Federal Reserve. At the same time, the US dollar, although somewhat lost its position, still remains in favor.

The US government submitted to Congress a proposal on full-scale stimulus measures totaling $ 2 trillion, but the dollar responded to this only with a slight weakening, which is connected, as we have repeatedly pointed out, with the perception of it in the investor environment as the last asset itself, shelter during the testing period, in the catastrophic period. This is why there is no full-scale collapse in the markets.

The situation with coronavirus remains extremely tense in Europe and in the United States. Although, as shown by trading on the stock markets, investors are already mortgaged for the post-crisis period, buying fairly cheap securities, for example, the shares of many companies have increased over the past week by 50-60%, they continue to closely monitor the growing tragedy.

In the last two months, traders did not actually follow the incoming economic statistics, as they were passionate about the impact of coronavirus on the global economy in general and on the economies of individual countries in particular. But now, the focus is slowly beginning to shift towards the values of important economic indicators in order to understand how the blow will be dealt and how long the economies of the affected countries will recover. In this series, in our opinion, the numbers for employment in the States, and more precisely, for the number of new jobs, will be important.

The values of GDP for the 4th quarter are considered to be irrelevant, since they reflect the state of the economy before the coronavirus pandemic and as a result, simply uninteresting.

The British pound turned sharply on Wednesday in the wake of the announcement by local authorities of emergency measures to protect the country from the influence of the coronavirus. Britain traditionally believed that it would be able to sit out, however, this was not possible. Therefore, tough measures to combat the spread of infection will definitely have a strong negative impact on the local economy.

The single currency remains in a short-term upward trend, as the Lower Board of the local parliament suspended debt braking of the country and approved 156 billion euros financed by state investments in the budget for healthcare and company support afloat. Australian and New Zealand dollars are declining on Thursday due to the slowdown in the growth of commodity and commodity assets. At the same time, a similar picture is observed in the USD/CAD pair.

In general, as we can observe in the situation in the currency markets, we believe that the situation will radically change only after the coronavirus pandemic declines in Europe and the USA. In this case, we believe that the dollar will begin to decline against major currencies, but this decrease will not be noticeably strong due to the fact that not only the Fed and the US government are taking unprecedented measures to support the economy, but also other world Central Banks and countries.

Forecast of the day:

The EUR/USD pair is trading above the level of 1.0900, if it holds above it, we should expect continued recovery of the pair to 1.0985. But if it falls below this level, the pair will adjust to 1.0780.

The AUDUSD pair is correcting down after rising the day before to our target level. We believe that if the pair does not grow above the level of 0.5945, it will continue to correct to 0.5740.