Today, the focus is on the slowdown in gold mining, statements by the head of the ECB, and the introduction of a state of emergency in Japan.
Large mining company Barrick Gold expects a decline in gold production. Affects Gold
A state of emergency has been introduced throughout Japan. Affects Nikkei 225
Poor countries will not be able to pay loans until the end of the year. Affects S&P 500
The head of the ECB, Christine Lagarde, reported the uncertain consequences of the flare-up financial crisis in Cyprus. Affects EUR
Minneapolis Federal Reserve Bank President Neel Kashkari, in a note to the Financial Times, urged commercial banks to refuse to pay dividends and attract 200 billion from private investors. Affects S&P500
The EU consumer price index will be published. If real, the data will exceed the forecast value of growth by 0.7%, EUR may respond with growth.
Japanese authorities are responding to the spread of the epidemic – as the number of cases of COVID-19 increases. Initially, the state of emergency was declared in only seven prefectures. Now, this measure has spread throughout the country. As previously reported, Prime Minister Shinzo Abe announced the allocation of about $1 trillion toward economic recovery. At the same time, the head of government expects GDP growth of almost 4%.
The stock index’s chart is in a great place for sales. Quotes returned to the previously broken support level of 19400. Looking at the current values, the downward trend could resume.
There is still very little positive information in the oil market. Technical analysis suggests a probable fall in quotes to the level of 26.00.
The pair feels stability near the upward support level. It is possible to strengthen quotes to 78.00 in the near future.
CAD/JPY on this day in history
- Since 2000, Apr 17th has been a trading day 15 times.
- On 40% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.95%.
- The downward trend was limited to 0.52%.