Today, the focus is on the forecast of a 20% reduction in Germany’s GDP, tightening of the quarantine measures in Russia, as well as the approval of the $2 trillion relief package in the United States.
IFO economist Klaus Wohlrabe says there might be a 20% reduction in the German economy. Affects the EUR
Quarantine measures are tightened in Russia. Affects the RUB
The Senate have agreed on a $2 trillion relief package to support the economy. Affects the USD
China resumed buying liquefied natural gas from the US after a break of a year and a half. Affects Natural Gas
Japan has recorded the biggest jump in the number of COVID-19 cases. Affects Nikkei 225
The minutes of the last Bank of England meeting on monetary policy will be published. The event may cause increased volatility of GBP.
The final report on the US GDP dynamics for 2019 will be issued. The growth rate is forecasted to be 2.1%. Deviation to the lower side will lead to a decrease in the USD.
The value of the precious metal continues to grow despite the states’ attempts to increase economic incentives. Even the US agreement to deliver $2 trillion in government relief has not added confidence to the market participants.
The quotes will probably reach 1650 in the nearest future. This is what Fibonacci levels are signaling.
ETF Natural Gas Reversal
ETF Natural Gas Reversal, which monitors the inverse dynamics of natural gas prices, may continue its decline within the “expanding triangle” figure.
One should consider selling this asset. The chart has already broken the uptrend line and is preparing to get beyond the “triangle”.
USD/NOK on this day in history
- Since 2000, March 26 has been a trading day 14 times.
- On 36% of those days, the asset finished trading with growth.
- The maximum strengthening range was 2.13%.
- The downward trend was limited to 0.93%.