CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure. CFDs are a leveraged product and can result in losses that exceed deposits. Please ensure you fully understand how CFDs work and what their risks are, and take care to manage your exposure.

EUR/USD: Fed launches new facility for foreign central banks

USD weakens later in the session as program expected to ease global USD illiquidity.

EUR/USD Technical analysis, overview, strategies, and levels

EUR/USD's price broke through yesterday's 1st Support level offering plenty before eventually retracing as the US dollar weakened following the US Federal Reserve's launch of a new facility for foreign central banks to alleviate USD illiquidity globally. There was plenty of data yesterday out of the Eurozone, with preliminary CPI (Consumer Price Index) figures below expectations at its core (which excludes plummeting energy prices) and overall, and Germany's unemployment rate for March showing a surprise drop. A lot more is on the table today, not just due to manufacturing PMIs (Purchasing Managers Index) out of the EZ, but also out of the US with estimates from both Markit and ISM, and preceded by ADP's (Automatic Data Processing) non-farm estimate expected to show a significant negative figure as the US is on course to becoming the new epicenter of the virus.

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IG client* and CoT sentiment for EUR/USD

EUR/USD Chart with retail and institutional sentiment

*The percentage of IG client accounts with positions in this market that are currently long or short. Calculated to the nearest 1%, as of today morning 8am.

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CFDs are a leveraged products. CFD trading may not be suitable for everyone and can result in losses that exceed your initial deposit, so please ensure that you fully understand the risks involved.

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