US coronavirus deaths set single-day record increase of 2,371, totalling 30,817 – Reuters tally

Ross J Burland FXStreet

Reuters reports that the US coronavirus deaths set a single-day record increase of 2,371, totalling 30,817. Also, the CDC reported earlier a spike in new deaths of 2,330 to 24,582 – yesterday, the death toll stood at 22,252.

Wall Street Close: COVID-19 impact on US economy has investors profit taking

Meanwhile, it was a risk-off day, and the dollar came out on top, taking over form the yen as a safer haven.

USD/JPY: Volatility higher and dollar follows suit, testing bear's commitments

We have seen a jump in the DXY today with the index travelling from a low of 98.82 to a high of 99.98, despite the poor US economic data. Additionally, fresh data from the BOJ highlights that Japanese investors have been very strong buyers of foreign debt in the month of February, especially US T-bills which likely underpins the US dollar for time to come just as the Japanese and world economy heads into recession.

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Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low. The major currency pair is under pressure as surging oil prices due to the United States-Israel war with Iran have increased the risks of higher inflation for the Old Continent.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold sticks to gains above $5,350 amid sustained safe-haven demand; firmer USD caps gains

Gold sticks to its positive bias for the third straight day and trades above the $5,350 level heading into the European session on Tuesday. Concerns about a broader regional conflict in the Middle East continue to weigh on investors' sentiment and underpin demand for the traditional safe-haven bullion.

Top Crypto Gainers: Near Protocol, Virtuals Protocol, and Morpho lead market recovery

Near Protocol, Virtuals Protocol, and Morpho are leading the market recovery with double-digit gains over the last 24 hours. Technically, NEAR extends the breakout of the falling channel pattern, VIRTUAL holds above the 50-day EMA, while MORPHO tests a crucial resistance.

The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

Grass 20% bullish breakout defies broader market weakness

Grass (GRASS) is edging up above $0.30 at the time of writing on Monday. The token’s notable 20% intraday surge stands out amid heightened volatility in the broader crypto market.