Analytics

News, Trends, & Analytics 10.04.2020

The worst crisis since the Great Depression

Today, the focus is on the increase in the number of people infected with COVID-19 in Russia, the drop in the U.K.’s GDP, as well as the comments from the head of the IMF.

 

News

The number of people infected with COVID-19 in Russia now exceeds 10,000. Affects RUB


The head of the IEA Fatih Birol does not expect a quick recovery in the oil market. Affects Brent


The U.K.’s GDP in the 1st quarter amounted to 0.3% with a forecast of 1.1%. Affects GBP


The minutes of the last ECB meeting on monetary policy showed the regulator’s readiness for decisive action. Affects EUR


The head of the IMF Kristalina Georgieva said that the current recession will be the worst since the Great Depression. Affects S&P 500

 

Calendar

12:30 GMT

The Core Consumer Price Index (CPI) will be released in the USA. The expected figure is 0.1%, but there is a chance that the real data will be lower. In this case, USD may decline.

 

Technical Analysis

Dow Jones

The head of the IMF Kristalina Georgieva predicted this will be the worst global economic crisis since the Great Depression in the United States. The reason for such an unhappy forecast was COVID-19, which impedes normal trade between countries. If the pandemic is defeated this year, it will at least partially offset the losses. However, the director of the fund is confident that in 2020 the overall growth rate will be negative.

Against this background, the stock market may return to a bearish trend, because people’s faith in normalizing the situation will not be long-lasting. In the case of the Dow Jones, the upward rollback may be limited to the level of 2400.

NTA 10.04 - EN_0

Gold

The price chart of the precious metal can reach the level of 1700 – its closest resistance level.

NTA 10.04 - EN_0

EUR/AUD

The European currency began to fall in price against the backdrop of negative comments by officials from the ECB, reflected in the minutes of the last meeting of the regulator. An analysis of the daily asset timeframe showed that a downward trend can continue up to 1.67000.

NTA 10.04 - EN_0

 

EUR/AUD on this day in history

  • Since 2000, Apr 10th has been a trading day 15 times.
  • On 67% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 1.4%.
  • The downward trend was limited to 1.82%.
Related posts
© 2014 - 2020 Olymp Trade. All Rights Reserved.