Alphachain Logo White
Uncategorised, Weekly Alpha

News Recap: Markets in Asia traded positively

, by

Markets in Asia traded positively as the region picked up on last week’s late surge stateside although bullish momentum was somewhat capped with participants cautious heading into the month and quarter end as well as Friday’s NFP jobs data and impending Easter holiday closures.

The Euro continued to edge lower last week on a firmer US dollar. The single currency continues to disappoint with growing concerns of a third wave circling the bloc. German Chancellor Merkel threatened the use of Federal law to toughen pandemic restrictions given that she is not convinced that the current measures will slow down the rise in cases. EUR/GBP slumped to new yearly lows after giving up support around 0.8550.

On the other hand, Sterling has led the charge as market participants look towards the quarter end. With stage 2 of the nation’s easing methods being implemented and a strong vaccine rollout, the currency continues to edge higher against safe haven assets. GBP/JPY has reclaimed the 151.00 handle after initially slumping below 149.00 last week.


Cryptoassets started the week with gains as Visa announced that they will permit payment settlements using cryptocurrency. At the time of writing Bitcoin is up over 3.5% after reclaiming the $57,000 handle.

WTI Crude

In the commodity space, WTI and Brent opened the week lower but have since recovered from the lows. Fundamental pressure came as a result of the Ever-Given container ship being refloated in the Suez Canal. Looking ahead to the week, fundamental catalysts remain the same with the focus being on progression in lockdown measures and the vaccination rollout. Market participants will also have to digest commentary from OPEC+ as meetings commence midweek. Expectations remain on the fact that OPEC+ will endeavour to maintain lower output levels with Russia also echoing support of production rollovers into May. Gold has continued to trade steady amidst a more upbeat greenback in recent weeks. The commodity currently sits above a shelf of support at $1,725.

Here is a breakdown of the High impact data releases this week.


All Day OPEC-JMMC Meetings. Markets to watch: All  


13:30 NFP. Markets to watch: USD Crosses

Apply to become an Alpha Funded Trader with a guaranteed $15K funded account. If approved, get funded within 24 hours! – Apply Now!

Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *