Today, the focus is on Boeing attracting investors, an SEC investigation into Luckin Coffee, and a preliminary estimate of the U.S. GDP.
News
The preliminary report on the U.S. GDP in the 1st quarter showed a decrease. Affects USD
Boeing is considering a bond issue to attract large investments. Affects Boeing
The U.S. Securities Commission is investigating the Chinese company Luckin Coffee — the main competitor to Starbucks. Affects Starbucks
The economic confidence index in Turkey fell from 91.8 points to 51.3. Affects TRY
Russian President Vladimir Putin met with heads of oil companies. Affects Brent
Calendar
09:00 GMT
The preliminary reports on the Eurozone Consumer Price Index will be published. Forecast: growth by 0.1%. If the real percentage is lower, EUR may respond with a decline.
11:45 GMT
The ECB will decide on the interest rate. The regulator is unlikely to change the rate, but the event may still cause an increase in the volatility of EUR.
12:30 GMT
There will be a report on the number of initial applications for unemployment benefits in the United States. 3.5 million new applicants are expected. If the data is lower, the USD will receive a positive stimulus.
Technical Analysis
AUD/USD
A preliminary estimate of US GDP for the 1st quarter of 2020 showed a 4.8% decline with a forecast of -4%. However, the market did not show its disappointment. Traders were probably ready for such news and have already played them.
Against this background, the US dollar may counterattack, which will be reflected in a decrease in AUD/USD quotes. However, the downward trend is limited by an upward support level near 0.64000.
Bitcoin
The bullish cryptocurrency trend can continue up to 9000–9500. Near this reference point is a downward resistance level.
USD/MXN
This asset is in the process of forming the figure “triple top”. The first target price of the downward trend is the support level of 23.40. If it is broken, the currency pair may fall into a long-term bearish trend.
USD/MXN on this day in history
- Since 2000, April 30th has been a trading day 14 times.
- On 50% of those days, the asset finished trading with growth.
- The maximum strengthening range was 0.71%.
- The downward trend was limited to 0.57%.