Today the focus is on the Federal Reserve’s policy meeting, tech shares earnings, and OPEC+ increasing oil production.
Australian Bureau of Statistics will release its quarterly measure of Consumer Price Index. Forecast: 0.9%. If the results are lower than forecast the AUD could receive negative pressure.
Assets to trade: GBP/AUD, AUD/CAD, AUD/USD
The release of monthly Canada Core Retail Sales measurement. Forecast: 3.7%. If the results are higher than forecast the CAD could receive a positive push.
Assets to trade: EUR/CAD, CAD/CHF, CAD/JPY
The US Energy Information Administration releases its weekly Crude Oil Inventories report. Forecast: 0.375M. If the results are lower than forecast the Brent could receive a positive push.
Assets to trade: Brent
3M warns of higher costs as its usual supply chains are disrupted. Affects 3M
OPEC+ confirms its intention to ease oil output cuts from May, 1. Affects Brent
Tesla exceeds Wall St expectations for first-quarter revenue by a small margin, boosting its revenue with environment credits. Affects Tesla
The US dollar is trading above weekly lows as investors are waiting on the Federal Reserve’s policy meeting this week. Affects USD
As earnings reports focus investors’ attention on the tech companies, S&P 500 and NASDAQ open higher than usual. Affects NASDAQ
As NASDAQ is an index containing a huge amount of big tech companies, it is particularly affected by the period when said companies release their performance reports, especially by the financial results reported by said companies.
We can see the sharp dive that will continue until the index returns to the pre-earnings levels, with small corrections along the way.
Brent currently moves upwards in a steady climb but shows signs of forming a new price channel in the near future.
This currency pair shows high volatility today, with sharp falls and rises, though the overall direction of the movement is visibly downward.