Market overview Futures for S&P500 added 3.0% after 7% jump a day earlier on optimism around slowing the spread of coronavirus and news of more stimulus in Italy (+ 350bn), Japan (>$1 trillion) in the US (+ $ 1 trillion). DAX is growing at 3.8% today, CAC40 by 2.8%, FTSE100 by 3%.
The volatility of the foreign exchange market has grown slightly during the day. DXY stepped back across the market. Commodity-linked currencies are leading the recovery. EURUSD jumped above 1.09. GBPUSD rose above 1.2350.
Earlier today gold spot price rose to $1670, while futures rewrote multi-year highs above $1700. By the start of trading in the US, we see some a correctional pullback.
Brent is trading at $ 34.4 in the spot market, near last week’s highs. Information on the upcoming expanded OPEC meeting and call with the Ministry of Energy of many countries is driving prices now.
Investors hope to see flattening growth of the new coronavirus cases and positive impact of stimulus on global recovery.
Important events for April 8, GMT (Exp.): 05:00 Jp ! Economy Watchers Survey (Mar, 22.2) 12:15 Ca !! Housing Starts (Mar, 170K) 14:30 US !! Crude Oil Inventories (Apr 3, 49.1) 17:00 US !!! FOMC Meeting Minutes
- 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…
This website uses cookies
