Market Overview

FxPro Daily Insight for April 8

Market overview Futures for S&P500 added 1.2% after closing almost zero the day before. All worsening economic forecasts against the background of general lockdown do not give up markets from negative cautious mood. DAX is losing 0.6% today, CAC40 is decreasing by 0.6%, FTSE100 down 1.0%.

The FX market volatility falling further, but is still above average levels for six months to March. DXY has stabilized at around 100, dropping slightly in recent hours. The currency market moves are without a single dynamics, showed a wait-and-see attitude.

Gold has stabilized around $ 1650, sharply reducing fluctuations, further indicating a waiting approach in the markets.

Brent returned to $ 33.1, to this week lows, in anticipation of an expanded OPEC+ meeting (Apr 9) and subsequent consultations within the G20 Energy Ministries (Apr 10).

Investors hope to see flattening growth of the new coronavirus cases and positive impact of stimulus on global economic recovery.

Important events for April 9, GMT (Exp.):

00:30 Jp !!! BOJ Governor Kuroda Speaks 06:00 UK !! GDP (Feb, 0.1% 3m/3m) —– All !!! OPEC-JMMC Meetings —– EA !! Eurogroup Meetings 12:30 Ca !!! Employment Change (Mar, -500K) 12:30 US !!! Unemployment Claims (Apr 4, 5.00M)

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