Analytics

News, Trends, & Analytics 07.04.2020

In a number of EU countries, positive dynamics were noted for COVID-19

Today, the focus is on declining BMW sales, unprecedented incentive measures in Japan, and positive dynamics in Europe.

 

News

The Prime Minister of Japan Shinzo Abe promised to allocate an amount equal to 20% of the country’s GDP to support the economy. Affects JPY


BMW sales in the first quarter were down 20.6%. Affects BMW


Negotiations between countries participating in the OPEC+ agreement are postponed. Affects Brent


In Europe, there are signs of a slowdown in the number new of COVID-19 cases. Affects DAX


Business activity in the UK’s construction sector fell to the lows of the decade. Affects GBP

 

Calendar

14:00 GMT

The report on the number of open jobs in the US labor market from JOLTS will be published. The indicator is forecast at 6.476 million. If the forecast is too high, the USD will weaken.


14:00 GMT

The updated Canada Business Index from Ivey will be released. Forecast: fall to 41 points. CAD may begin to decline if the report is lower.

 

Technical Analysis

Dax

Signals of stabilization of the situation in Europe around COVID-19 had a positive effect on the dynamics of European stock indices. Especially pleased with the data from Spain, where the decline in new cases of the disease is recorded for the fourth consecutive day.

Meanwhile, the DAX chart will soon storm the resistance level at 10,000 of the “rectangle” trend continuation pattern.

NTA 07.04 - EN_0

USD/MXN

The currency pair did not gain a foothold in the area of new highs, so it is likely that it will be corrected down to the upward support level.

NTA 07.04 - EN_0

AUD/CHF

A bullish divergence has formed, which indicates a probable increase in Australian dollar quotes.

NTA 07.04 - EN_0

 

USD/MXN on this day in history

  • Since 2000, Apr 7th has been a trading day 13 times.
  • On 46% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.26%.
  • The downward trend was limited to 0.99%.
Related posts
© 2014 - 2020 Olymp Trade. All Rights Reserved.