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...
US Dollar mixed ahead of retail sales, jobless claims
Information is not investment advice
Ichimoku Kinko Hyo
USD/JPY: The pair is trading below the cloud. A downward pressure would lead the pair to exit further the cloud, confirming a bearish outlook.
Fibonacci Levels
XAU/USD: Gold facing a further consolidation below 38.2% retracement area. Bulls have returned recently.
US Market View
U.S. stock markets are set to open mostly higher after a mixed day on Wednesday on which tech underperformed value stocks. It’s a data-driven day in the U.S., with retail sales and industrian production data for March due, as well as the weekly update on jobless claims. Industrial production, due 45 minutes later, is expected to have rebounded 2.8% after a 2.2% drop in February, when a week-long cold snap across much of the south paralyzed the energy complex and a suite of energy-intensive industries.
initial job claims, which rose to 744,000 in last week’s release, are expected to have fallen to 700,000, a number that would still reflect a high continuing rate of layoffs in the economy, over a year after the start of the pandemic.
The Russian ruble fell as much as 2% and the country’s stock market fell 2.4% in response to news that the U.S. will introduce new sanctions on the country due to its involvement in the SolarWinds hack and in past election interference.
Crude oil prices retreated overnight after making substantial gains in response to a faster-than-expected draw on US crude stockpiles last week.The drop in inventories reported by the Energy Information Administration was nearly twice was was expected. Crude prices hit their highest in nearly a month in response, already supported by two upgrades to world oil demand this week from OPEC and the International Energy Agency.
USA Key Point
- The CAD is the strongest and the EUR is the weakest.
- Full slate of economic data due at the bottom of the hour.
- Dollar nudges a little higher awaiting US retail sales data.
- China Huarong said to be ready to repay S$600 million of bonds due at the end of the month.
- Treasury yields hold a little lower on the day so far.
- German health minister says still expects 20% of population to be vaccinated by end April.
- AUD/USD keeps the upside run going after slight pullback earlier in the day.
- EUR/USD keeps close to the mid-March highs, buyers looking to test 1.2000.
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
