FxPro Daily Insight for April 3
April 03, 2020 @ 17:57 +03:00
US markets are losing about 0.7% on session start on Friday after rising 2.3% on Thursday. The data showed the economy losing 701K jobs. However, this report does not include the most recent two weeks, when cuts were most dramatic.
DXY has been adding 2.4% this week, returning half the decline in the previous five days. EURUSD slid under 1.0800 on speculation that political divisions would amplify the economic blow. GBPUSD went down. The FX volatility continues to decline, giving way to the longer-term trends.
Gold develops growth the second day, returning to the level of $1617 and having won back the decline at the beginning of the week.
Brent is trading at $33.7 in the spot market, adding 14% today. Expectations of unprecedented coordinated production cuts from OPEC, Russia and the US are supporting the growth.
Investors are waiting for signs of stabilization in the number of infected as the first starting point for further assessing the prospects for the economy and markets.
Important events for April 6, GMT (Exp.): —– All !!! OPEC+ meeting 06:00 Ge !! Factory Orders (Feb) 08:30 UK !! Construction PMI (Mar) 08:30 EA !! Sentix Investor Confidence (Apr)