Best Trade Ideas for April
I know we've had quite an amazing run these past few month, with over 78% accuracy in our trade ideas and sentiments, and thousands of pips in profits monthly...
GBP/USD: still edging higher
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. Downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAG/USD: Silver continuous to stand on 23.6% retracement area. Bears have returned during the last hours and send the price lower.
EU Market View
Asian stocks traded subdued after the momentum from yesterday’s intraday rebound and fresh record highs on Wall Street waned. Amazon earnings beat on the top and bottom lines after reporting a 44% increase in sales: +2.4% after-hours. European stock markets are seen opening slightly lower Friday, ending the week on a cautious note following disappointing Chinese growth data and ahead of key European numbers and the continuing first-quarter earnings season. Global stock markets have been pushed to record levels of late by signs of a broad economic recovery, helped by vast amounts of fiscal stimulus and ultra-easy monetary policies.
Today China’s official manufacturing Purchasing Manager's Index fell to 51.1 in April from 51.9 in March, missing forecasts in April as supply bottlenecks and rising costs weighed on production.
French economy also grew more than expected in the first quarter, climbing 0.4% from the fourth quarter, as consumer spending and business investment held up despite coronavirus curbs. More GDP and inflation data are due from the major European countries and the Eurozone as a whole.
Oil prices edged lower on profit-taking Friday, but are still set to end the week with hefty gains as signs of economic recovery stoked optimism of a strong rebound in global demand this year.
Looking ahead, highlights from the macroeconomic calendar include German GDP (Flash), EZ CPI (Flash) & GDP (Prelim), US PCE and Chicago PMI, Fed's Kaplan speech.
EU Key Point
- Japan April consumer confidence index 34.7 vs 34.2 expected.
- Germany reports 24,329 new coronavirus cases, 306 deaths in the latest update today.
- China says the US increasing military activity directed at it.
- China's official PMIs for April: Manufacturing 51.1 (vs. expected 51.8).
- GBP/JPY Price Analysis: Bulls face rejection near 152.20.
- GBP/USD consolidates gains around 1.3950 amid firmer US dollar.
- EUR/USD nears 1.2100 on firmer US Treasury yields ahead of German, Eurozone GDP.
Similar
CAD Might Weaken As Oil Market Plunges
Futures for Canada's main stock index rose on Monday, following positive global markets and gains in crude oil prices. First Citizens BancShares Inc's announcement of purchasing the loans and deposits of failed Silicon Valley Bank also boosted investor confidence in the global financial system...
Bitcoin & Gold - Safe Haven Amid Bank Crisis
Investor confidence in the global financial system has been shaken by the collapse of Silicon Valley Bank and Credit Suisse. As a result, many are turning to bearer assets, such as gold and bitcoin, to store value outside of the system without...
Popular
What Will Happen with the Euro? An Economic Perspective.
eurusd-is-falling-what-to-expect-from-the-future-price-movement
Will Australia's "Rampant Inflation" Prevail in May?
Greetings, fellow forex traders! Exciting news for those with an eye on the Australian market - the upcoming interest rate decision could be good news for Aussies looking to refinance or take out new loans. The Mortgage and Finance Association Australia CEO, Anja Pannek, has...
How Will BoJ Meeting Affect the Yen
Hold onto your hats, folks! The Japanese yen took a nosedive after the Bank of Japan (BOJ) left its ultra-loose policy settings unchanged, including its closely watched yield curve control (YCC) policy. But wait, there's more! The BOJ also removed its forward guidance, which had previously pledged to keep interest rates at current or lower levels. So, what's the scoop? Market expectations had been subdued going into the meeting, but some were still hoping for tweaks to the forward guidance to prepare for an eventual exit from the bank's massive stimulus
Choose your payment system
