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.
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.
#WaveAnalysis
#GBPAUD reversed from key resistance area
Likely to fall to 2.000
https://fxpro.news/market-snapshots/gbpaud-wave-analysis-06-april-2019-20200406/
#GBPAUD reversed from key resistance area
Likely to fall to 2.000
https://fxpro.news/market-snapshots/gbpaud-wave-analysis-06-april-2019-20200406/
#WaveAnalysis
#EURNZD broke support area
Likely to fall to 1.8000
https://fxpro.news/market-snapshots/eurnzd-wave-analysis-06-april-2019-20200406/
#EURNZD broke support area
Likely to fall to 1.8000
https://fxpro.news/market-snapshots/eurnzd-wave-analysis-06-april-2019-20200406/
Over the past day, the number of new infections in the world has grown by 72.9K cases against 62.2K a week ago and 74.7K a day earlier. There is a flattening of the pace of distribution, which is positively perceived by market participants. In large European countries (except France and the UK) there is a tendency to reduce the number of new cases. In the UK, France and several Scandinavian countries, we see stabilisation so far, but not yet decline. Some reports say that Italy is considering the date of the softening of the quarantine regime. Forward-looking markets took this information as the first signals of stabilisation. It is time for investors to assess the economic impact.
On Tuesday morning, Bitcoin showed 4.5% growth and traded around $7,300. At some point, bitcoin climbed to $7,400 but attracted sellers. According to CoinMarketCap, in the last 24 hours, trading volumes in the Bitcoin network increased by 45%. Markets believe that the growth in volumes along with the price indicates the strength of the move. Crypto market participants may not like it, but the dynamics of digital currencies have once again coincided with the sentiment of the stock market.
Crypto Fear & Greed Index grew by 8 points overnight, but it is still in the "extreme fear" zone. RSI went up, but so far in the neutral zone.
The altcoins not only supported the first coin but also increased their growth. For example, Ethereum (ETH) jumped more than 14% to $170 a day. Other currencies are mostly showing more modest growth, but the whole market is in the "green zone".
Crypto Fear & Greed Index grew by 8 points overnight, but it is still in the "extreme fear" zone. RSI went up, but so far in the neutral zone.
The altcoins not only supported the first coin but also increased their growth. For example, Ethereum (ETH) jumped more than 14% to $170 a day. Other currencies are mostly showing more modest growth, but the whole market is in the "green zone".
Gold and Silver’s shining future
On top of signs of slower coronavirus spreading, the authorities are not tired to declare new funds to fight the consequences. Italy has announced a new 400B package, increasing the total amount to more than 800B (about 50% of GDP).
US lawmakers are considering another package “for at least $1 trillion” in addition to the $2.6 trillion.
At the same time, gold and other commodity assets may experience additional growth impulse on the background of widespread money printing by governments around the world.
After the market storm in October 2008, the price of gold tripled within three years,while silver’s value increased by almost six times, from $8 to $50.
Nowadays lower market volatility and a trend reversal on stocks led gold to strengthen by $220, or 13%, in slightly more than two weeks.
Silver rose by almost a 33% at the same time, to $15 per ounce.
https://fxpro.news/daily-forex-outlook/gold-and-silvers-shining-future-20200407/
On top of signs of slower coronavirus spreading, the authorities are not tired to declare new funds to fight the consequences. Italy has announced a new 400B package, increasing the total amount to more than 800B (about 50% of GDP).
US lawmakers are considering another package “for at least $1 trillion” in addition to the $2.6 trillion.
At the same time, gold and other commodity assets may experience additional growth impulse on the background of widespread money printing by governments around the world.
After the market storm in October 2008, the price of gold tripled within three years,while silver’s value increased by almost six times, from $8 to $50.
Nowadays lower market volatility and a trend reversal on stocks led gold to strengthen by $220, or 13%, in slightly more than two weeks.
Silver rose by almost a 33% at the same time, to $15 per ounce.
https://fxpro.news/daily-forex-outlook/gold-and-silvers-shining-future-20200407/
This week, the interest of our readers remains on the EURUSD (35%), which leads by a wide margin. The uncontrolled movements of the most liquid currency pair in the world attract increased attention and are considered by many as a barometer of market sentiment. The interest for Crude Oil sharply increased (to 26%) following the price rise of last week and the upcoming OPEC + meeting.
About the prospects for oil this month is our next poll.
About the prospects for oil this month is our next poll.
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 economy recovery.
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 economy recovery.
#WaveAnalysis
#Natural gas broke resistance area
Likely to rise to 2,000
https://fxpro.news/market-snapshots/natural-gas-wave-analysis-07-april-2019-20200407/
#Natural gas broke resistance area
Likely to rise to 2,000
https://fxpro.news/market-snapshots/natural-gas-wave-analysis-07-april-2019-20200407/
#WaveAnalysis
Johnson & Johnson (#JNJ) under bullish pressure
Likely to rise to 143.40
https://fxpro.news/market-snapshots/johnson-johnson-wave-analysis-07-april-2019-20200407/
Johnson & Johnson (#JNJ) under bullish pressure
Likely to rise to 143.40
https://fxpro.news/market-snapshots/johnson-johnson-wave-analysis-07-april-2019-20200407/
Over the past day, the number of new infections in the world increased by 81.0K against 75.1K a week ago and 73.0K a day earlier. There were 33.3K new cases overnight in the US, which is close to record and does not allow one to speak of a turning point, with total cases exceed 400K. In France, a jump of 11K per day also washed away signs of stabilisation. In large European countries (except France and the UK), there is a further tendency to slower contagion. In the UK and several Scandinavian countries, we see stabilisation, but not decline. A day earlier, China was marked by the absence of new deaths, but today two fatal cases have been identified. Forward-looking markets see this information as the first signals of stabilisation, but the positives are too unstable, as are the attempts of markets to develop recovery.
In the last 24 hours Bitcoin faced pressure around $7,400, dipping to $7,150, but soon returned above $7,300. BTCUSD got support at reduced trading volumes, which may indicate that the recovery is fragile. The Bitcoin Greed and Fear index grew one point overnight, but still in the "extreme fear" zone. The RSI has moved up, but the basis for this price dynamics is still fragile.
Bitcoin Dominance Index fell to 64%, that can be considered a positive sign for the crypto market in general. Investors are buying not only the benchmark coin but also altcoins.
Bitcoin Dominance Index fell to 64%, that can be considered a positive sign for the crypto market in general. Investors are buying not only the benchmark coin but also altcoins.
Oil and the euro are bureaucracy victims
This is a case where multilateral negotiations are evil. Comprehensive and coordinated steps turn into an endless chain of talks. This applies to both the oil market and the pan-European support package.
Europe’s bureaucratic machine showed itself in a negative light this morning when the EU could not agree on a €500 billion stimulus package, postponing negotiations to Thursday. These reports turned the euro down, taking about 0.5% in half an hour.
The same can be said about approaching Mega-Opec negotiations. The chances that the US, Canada and, say, Norway will join the agreement are decreasing.
https://fxpro.news/daily-forex-outlook/oil-and-the-euro-are-bureaucracy-victims-20200408/
This is a case where multilateral negotiations are evil. Comprehensive and coordinated steps turn into an endless chain of talks. This applies to both the oil market and the pan-European support package.
Europe’s bureaucratic machine showed itself in a negative light this morning when the EU could not agree on a €500 billion stimulus package, postponing negotiations to Thursday. These reports turned the euro down, taking about 0.5% in half an hour.
The same can be said about approaching Mega-Opec negotiations. The chances that the US, Canada and, say, Norway will join the agreement are decreasing.
https://fxpro.news/daily-forex-outlook/oil-and-the-euro-are-bureaucracy-victims-20200408/
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.
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.
#WaveAnalysis
AT&T (#T) reversed from resistance area
Likely to fall to 28.00
https://fxpro.news/market-snapshots/att-wave-analysis-08-april-2019-20200408/
AT&T (#T) reversed from resistance area
Likely to fall to 28.00
https://fxpro.news/market-snapshots/att-wave-analysis-08-april-2019-20200408/
#WaveAnalysis
#Sugar reversed from resistance area
Likely to fall to 10.00
https://fxpro.news/market-snapshots/sugar-wave-analysis-08-april-2019-20200408/
#Sugar reversed from resistance area
Likely to fall to 10.00
https://fxpro.news/market-snapshots/sugar-wave-analysis-08-april-2019-20200408/
Over the past day, there were new 84.4K infection cases detected in the world against 80.1K week ago and 85.1K a day earlier (updated data). The total number of cases exceeded 1.5M, of which 1.1M are active cases, 330K recovered, and 88.5K died. In the USA, it was detected 31.9K new cases over the last 24 hours, which renews hopes for flattening of the pace of contagion. Spain reported an increase from 5K three days ago to 6.3K, but this below the number at the end of March (above 8K daily). In Britain it was a jump by 5.5K against the “norm” of 3.3K. Forward-looking markets are considering this information as the first signals of flattening the curve that ease markets pressure.
Markets are growing in the hope of politicians
World markets returned to growth on Wednesday on new signs of stabilization in the number of new cases of coronavirus infection.
An expanded OPEC conference-call is due today. According to recent press reports, the axe of the war between Russia and Saudi Arabia is buried.
It is logical to expect that Russia and Saudi Arabia will try to find such a scale of production cuts that will keep prices from further decline, but prevent from increasing output in the US. This is a delicate balance act that requires constant coordination of efforts. However, the words “coordination” and “working together” may become synonymous with rising oil prices in the coming months.
Another critical topic is the economic support packages that are stuck in the EU and US legislative circles.
https://fxpro.news/daily-forex-outlook/markets-are-growing-in-the-hope-of-politicians-20200409/
World markets returned to growth on Wednesday on new signs of stabilization in the number of new cases of coronavirus infection.
An expanded OPEC conference-call is due today. According to recent press reports, the axe of the war between Russia and Saudi Arabia is buried.
It is logical to expect that Russia and Saudi Arabia will try to find such a scale of production cuts that will keep prices from further decline, but prevent from increasing output in the US. This is a delicate balance act that requires constant coordination of efforts. However, the words “coordination” and “working together” may become synonymous with rising oil prices in the coming months.
Another critical topic is the economic support packages that are stuck in the EU and US legislative circles.
https://fxpro.news/daily-forex-outlook/markets-are-growing-in-the-hope-of-politicians-20200409/
Will halving help the crypto market?
Because of the incredibly rich negative news background, the participants in the crypto market began to forget about purely “cryptocurrency” events.
Nevertheless, they happen. Yesterday the halving occurred in the Bitcoin Cash (BCH) network. At ordinary times it would have been quite a remarkable event for the whole sector.
However, altcoins may behave not as benchmark cryptocurrency. Litecoin, which experienced halving last year, is now trading close to the lows of the “crypto winter”. Probably, such a scenario can wait for Bitcoin Cash (BCH).
https://fxpro.news/analysis-and-insight/will-halving-help-the-crypto-market-20200409/
Because of the incredibly rich negative news background, the participants in the crypto market began to forget about purely “cryptocurrency” events.
Nevertheless, they happen. Yesterday the halving occurred in the Bitcoin Cash (BCH) network. At ordinary times it would have been quite a remarkable event for the whole sector.
However, altcoins may behave not as benchmark cryptocurrency. Litecoin, which experienced halving last year, is now trading close to the lows of the “crypto winter”. Probably, such a scenario can wait for Bitcoin Cash (BCH).
https://fxpro.news/analysis-and-insight/will-halving-help-the-crypto-market-20200409/