Today, the focus is on expectations of high unemployment in Australia, positive economic sentiment in Germany, as well as the development of the crisis in the oil market.
The collapse of WTI quotes below zero puts pressure on the entire black gold market. Affects Brent
Coca-Cola shows earnings per share of $ 0.51 with a forecast of $ 0.44. Affects Coca-Cola
The Reserve Bank of Australia says a likely increase in unemployment is up to 10%. Affects AUD
The economic sentiment index in Germany significantly exceeded expert expectations. Affects EUR
The US can replenish strategic oil reserves by 75 million barrels. Affects Brent
Canada’s Core Consumer Price Index (Core CPI) will be published. The previous report showed an increase of 0.7%. If the updated data is lower, CAD will come under pressure.
There will be data on changes in crude oil reserves in the United States. Growth is projected at 16.133 million barrels. If the data is higher, traders will begin to actively sell Brent.
WTI crude oil crossed the zero line on Monday, April 20. At the moment, the price of a barrel of raw materials of this brand was estimated at -$37. The main reason for the collapse was the speculative actions of traders in the derivatives market. However, fundamental reasons cannot also be denied: the exhaustion of storage resources, as well as a decrease in demand for raw materials.
Brent oil reacted late. The volume decline began only the next day, but level 20 showed stability. Partly due to the downward level of support. Against this background, a short correction of the asset is possible upward, however, it is a very risky trade to make, as the trend may change at any time.
The currency pair’s chart broke through the lower border of the “Pennant” figure, which activated sellers.
The pair again storms the support level of 116,250, thereby creating favorable conditions for purchases. Positive statistics from Germany, published yesterday, may contribute to increased demand for EUR.
EUR/JPY on this day in history
- Since 2000, April 22nd has been a trading day 14 times.
- On 35% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.65%.
- The downward trend was limited to 1.09%.