Mar. 4: American session
Tatiana Norkina, analyst at FBS
Stock markets are recovering from yesterday's collapse. Thus, the S&P500 index adds almost 1.30 % and DJIA - 1.20%. There is a slight weakening of the U.S. dollar index which is currently in the red zone - 0.07 %. Against this background, EUR/USD is still holding above 1.3750; a leap to 1.3800 is possible. The GBP/USD pair has stopped just below the 1.6700, after the release of negative data on business activity in the UK construction sector.
The U.S. dollar strengthened today against the Swiss franc and Japanese yen. Thus, USD/CHF has grown to an important resistance of 0.8850, USD/JPY breaks above a strong level of 101.90.
The USD/CAD pair remains within yesterday's range, after the bulls couldn't overcome the resistance at 1.1100 this afternoon.