Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
EUR/USD : Bullish trend gains further momentum and targets 1.21 area
Information is not investment advice
Ichimoku Kinko Hyo
CAD/JPY: The pair is trading above the cloud. An upward pressure would lead the pair to exit further the cloud, confirming a bullish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand below 38.2% retracement area. Bulls have returned recently but the effort remains weak.
EU Market View
Asian equity markets were cautious after the choppy performance stateside; Mainland China underperformed. European stock markets are seen opening largely higher Thursday, helped by a generally positive start to the earnings season on Wall Street. The first-quarter U.S. earnings season started in earnest on Wednesday, with the banking sector, often seen as a proxy for the health of the wider economy. Oil prices drifted Thursday, consolidating near one-month highs after Wednesday’s strong gains as U.S. stockpiles data added to signs the demand outlook is improving. The dollar traded largely flat in Europe Thursday, remaining near four-week lows with traders seemingly buying into the idea that the Federal Reserve will keep interest rates at rock bottom levels for some time.
Looking ahead, highlights include US IJC, Philadelphia Fed, Retail Sales & New Zealand Manufacturing PMI, CBRT rate decision, Fed's Bostic, Daly, Mester & Logan.
EU Key Point
- Tokyo governor Koike says may consider state of emergency if can't slow virus spread.
- BOJ cuts economic assessment for 2 of 9 Japanese regions in April.
- Germany reports 29,426 new coronavirus cases, 293 deaths in latest update today.
- Senior Japanese ruling party official says cancelling this year's Olympic Games is an option.
- Taiwan's President says Chinese military activities threaten regional peace, stability.
- USD a little higher across the major FX board after earlier dip.
Gerasimos Papagiannis
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Commodities outlook: oil and gold
What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
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