FxPro Daily Insight for April 1
April 01, 2020 @ 19:01 +03:00
Market overview US markets are loosing 2.4% – 2.5% on Wednesday, after falling 2.2% on Tuesday. Markets are under pressure on news of accelerated growth in the number of infected and reports of intentions to extend quarantine in Europe.
DXY grew so far this week following the drawdown of risky assets. EURUSD rolled back to 1.0930. GBPUSD gains support on dips below 1.24. The volatility of the foreign exchange market fell to the levels of three weeks ago.
Gold returned to growth, having received support on the decline to $ 1575.
Brent fell to $ 25, updating lows since 2002. WTI stabilized at $ 22.3. Pressure on the quotes is exerted by news about the growth of supplies from Saudi Arabia.
The tipping point with the spread of coronavirus has not yet arrived, maintaining a shaky foundation under market recovery.
Important events for April 2, GMT (Exp.):
06:30 Sw !! Consumer Price Index (Mar, -0.5% y/y) 12:30 US !!! Unemployment Claims (Mar 28, 3.5M) 14:00 US !! Factory Orders (Feb, -0.7% m/m)