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