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Kayıt Tarihi: 13-Kasım-2019
Gönderilenler: 61
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| Gönderen: 03-Nisan-2021 Saat 10:33 | Kayıtlı IP
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Markets to expect the unexpected?
April has kicked off on a positive note with Asian shares
marching higher as investors digest data from China and
Japan. European markets are expected to open mixed ahead
of a barrage of economic releases from the region, while
US futures are green after the S&P 500 rallied
overnight.To get more news about
WikiFX, you can
visit wikifx.com official website.
Risk sentiment was boosted by President Bidens “once
in a generation” $2.25 trillion spending plan. Given his
speech yesterday, this is certainly no April fools.
According to the new President, the hefty spending will
“create the strongest, most resilient, innovative
economy in the world”. However, the ambitious plan will
be funded with higher corporate taxes with Biden calling
for the current rate of 21% to be hiked to 28%. This is
probably the biggest sticking point with the new stimulus
and may create resistance when the plan is discussed in
Congress, so grab your popcorn and enjoy the show.
More trouble in Europe
Things are not looking pretty in Europe.A third wave
of Covid-19 is sweeping through the continent, forcing
countries to renew lockdown restrictions. One of the
latest victims has been France which is struggling with a
jump in Covid-variant cases. President Emmanuel Macron
has announced a nationwide four-week lockdown that will
commence in two days and go on until May 2. During this
period, schools and businesses will be closed,something
that will inflict more pain on the economy.
Fears around Europe losing control of the pandemic is
likely to darken the economic outlook and result in a
weaker Euro.Looking at the charts, the EURUSD remains
under intense pressure on the daily timeframe. A solid
breakdown below 1.1700 could open the doors to levels not
seen early November 2020 around 1.1620.
OPEC to pull April fools？
Crude oil prices edged higher this morning, clawing
back some of the previous sessions losses ahead of the
OPEC+ meeting later in the day.
OPEC and its allies are widely expected to leave
production targets unchanged despite the Covid-19
restrictions in Europe and Iranian crude oil exports to
China. However, when dealing with OPEC+ it may be wise to
expect the unexpected. Saudi Arabia has already stunned
markets this year and any surprise moves could catch
investors off-guard today.
Should todays meeting go by the book, oil markets may
offer little reaction as this was already widely
expected.
Commodity spotlight – gold
After rebounding from the $1680 support level, gold
bulls seem to be on a mission to retest the $1730 level.
While a softer dollar may support upside gains, the
improving market mood and jump in risk-sentiment may
ensure prices remain depressed. The precious metal is
likely to oscillate within the $1680 to $1730 regions
ahead of the US jobs report on Friday.
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Konu: Markets to expect the unexpected?
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