Today, the focus is on declining BMW sales, unprecedented incentive measures in Japan, and positive dynamics in Europe.
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
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.
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.
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.
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.
A bullish divergence has formed, which indicates a probable increase in Australian dollar quotes.
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%.