FxPro Daily Insight for April 17

Market overview

Futures for S&P500 added 2.5% on Friday after Index increase 0.6% on Thursday. The growth momentum for stocks gave the US quarantine relief plan. The VIX volatility index fell back below 40. DAX is up 3.4%, CAC40 + 3.7%, FTSE100 +2.9%.

DXY is losing 0.3% today after rising 0.5% on Thursday. The dollar recedes to many currencies, especially to commodity-linked ones. Within the day, GBPUSD trading is concentrated in the range 1.24-1.25, for EURUSD – in 1.08-1.09.

Gold sold sharply on the return of buyers to stocks, having received support only in the recession under $1685. Now the tug of war has moved to the $1,700 area.

Brent does not depart from $30.5. May futures for the American WTI fell to 17.27 (-12.3% intraday), bouncing up to $18 at the time of writing.

Markets support news about quarantine weakening plans in some European countries. Still, they continue to frighten the scale of the economic downturn, which is outlined by outgoing statistics.

Important events for April 20, GMT (Exp.): 22:45 NZ !!! Consumer Price Index (1Q20, 2.3% y/y) 23:50 Jp !! Trade Balance (Mar) 10:00 Ge !! Bundesbank Monthly Report