FxPro Daily Insight for April 23

Market overview SP500 is up 1% at the start of the New York session after rising 2.3% on Wednesday. Positive dynamics are due to optimism around a new package of support for small and medium business and further growth in Oil prices. The VIX index fell below 40. DAX and CAC40 added about 0.9%, FTSE100 rose 1.0%.

DXY continues to move around 100.0, crossing this level daily for the sixth trading session. Since the beginning of the day, the dollar has moderately receded to a wide list of currencies, to a greater extent – to commodity ones. EURUSD sagged to 1.0750 after the gloomy “base scenario” of Lagarde about a 9% decline in Eurozone GDP in 2020.

Gold during the day rose above $1735, to the area of highs since 2012.

Brent is gaining growth, but so far comes up with increased pressure on attempts to grow above $26.

Tomorrow, market attention will be drawn to hearings on a new stimulus package in the US and business sentiment assessment in Germany.

Important events for April 23, GMT (Exp.): 06:00 UK !!! Retail Sales (Mar, -5.0% y/y) 08:00 Ge !!! Ifo Business Climate (Apr, 79.7) 12:30 US !! Durable Goods Orders (Mar, -12% m/m) 14:00 US !! UoM Consumer Sentiment (Apr, 67.5) 17:00 US !! Baker Hughes U.S. Rig Count (18-24.04)