FxPro Daily Insight for April 9

Market overview

S&P500 added 1.2% after rising 3.4% the day before as new Fed’s $2.3 trillion loan program shadowed further surge in jobless claims. DAX grew 2.0% today, CAC40 strengthened by 1.7%, FTSE100 – at 2.1%.

Currency market volatility continues to decline. DXY turned to a sharp decline after the Fed announcement. Markets await Powell’s follow-up comments. The dollar recedes on a broad front, primarily to the more yielded currencies.

Gold rose more than 2.2% to $1,680 amid a weakening greenback and fears that injections of liquidity from the Fed are undermining its value.

Brent rose to $ 35.0 – this week highs – on expectations of an OPEC+ agreement to cut Crude Oil supply.

Important events for April 10, GMT (Exp.): 01:30 Cn !! Consumer Price Index (Mar, 4.9%) Good Friday: UK, Ge, US, Ca markets close 12:30 US !!! Consumer Price Index (Mar, 1.6%) 18:00 US ! Federal Budget Balance (Mar, -135B)