Market overview Futures for US indices added 3.5% before US session start on optimism around signs of slowing the spread of coronavirus. The German DAX growing 4.6% today, the CAC40 is up 3.4%, while the FTSE100 is up 2.2%.
The FX volatility continues to decline. DXY slightly added, slowing its upward move growth since last Friday. EURUSD got back below 1.08, failing to hold above this mark. GBPUSD won back the decline at the opening of the day after reports of the hospitalisation of the Prime Minister.
Gold jumped to $1640, the highs since March 12, as stabilisation of risky assets returns the demand for gold as insurance against capital depreciation.
Brent is trading at $ 33.7 in the spot market, starting the week with a 7% dip to $32.5 after reports of the postponement of OPEC + discussions from Monday to Thursday.
Investors hope to see confirmation of the stabilisation virus spreading, which may be the starting point for further assessing the prospects of the economy and markets.
Important events for April 7, GMT (Exp.):
04:30 Au !!! RBA Rate Decision (-0.25%) 06:00 Ge !! Industrial Production (Feb, -3.0% y/y) 13:00 US !! IBD/TIPP Economic Optimism (Apr, 49.1)
- USDJPY broke key resistance level 155.00 - Likely to rise to resistance level 160.00…
- Ebay reversed from support level 49.35 - Likely to rise to resistance level 52.55…
Even though the Bank of Japan left the key rate and parameters of the QE…
Market picture Market Dynamics: The cryptocurrency market stabilised, losing just 0.1% of capitalisation and dropping to…
- GBPCAD reversed from key support level 1.6910 - Likely to rise to resistance level…
- GBPAUD reversed from support level 1.9135 - Likely to rise to resistance level 1.9360…
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