Analytics

News, Trends, & Analytics 02.04.2020

Difficult weeks for the USA

Today, the focus is on negotiations in the oil crisis, the self-isolation of the President of Russia, as well as Trump’s terrible forecasts.

 

News

The report from the ADP on jobs created outside of the US agricultural sector was not as disappointing as expected: -27 thousand with a forecast of -150 thousand. Affects USD


Trump warned fellow citizens of the upcoming two difficult weeks in the fight against COVID-19. Affects S&P 500


Heads of the energy departments for the USA and Russia held telephone conversations. Affects Brent


China has increased oil purchases in the United States. Affects Brent


Russian President Putin has begun to hold meetings remotely after shaking hands with a doctor who was diagnosed with COVID-19. Affects RUB

 

Calendar

08:30 GMT

The index of business activity in the UK construction sector will be released. The previous report recorded a value of 52.6 points. If the new report is lower, the GBP will come negative under pressure.


12:30 GMT

A report will be published on the number of initial applications for unemployment benefits in the United States. Forecast: growth of 3.5 million. If the data is higher, the USD will receive a negative driver.

 

Technical Analysis

S&P 500

The United States has long overtaken the rest of the world in terms of the spread of COVID-19, as well as its mortality rate. Initially, Donald Trump called for returning to normal activity by Easter, now he is talking about a possible 200 thousand dead from the coronavirus.

New ratings negatively impacted Wall Street. Yesterday’s trading session began with the collapse of the S&P 500 immediately at 3.2%. The trend may worsen if quotes consolidate below the strategic level of 2500.

NTA 02.04- EN_0

CHF/JPY

The Swiss franc continues to actively lose against the yen, as the spread of COVID-19 in this country is growing, as well as due to breakdown of the lower boundary of the ascending channel.

NTA 02.04- EN_0

Gold

The precious metal has hope for the bull trend against the background of the ongoing crisis to resume. Also, a positive factor is the support level of 1572, from which a bullish trend can start.

NTA 02.04- EN_0

 

Gold on this day in history

  • Since 2000, Apr 2nd has been a trading day 14 times.
  • On 50% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 2.31%.
  • The downward trend was limited to 2.51%.
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