Analytics

Weekly News 30.03.2020–03.04.2020

Introducing the most complete review of the upcoming week from analysts Olymp Trade


This week’s list of important events includes a court ruling over Gram token, UK GDP report, and a possible cancellation of quarantine in the US.

 

Major Events on the Economic Calendar

  • The US releases a report on pending home sales on March 30.
  • The UK releases data on Q4 GDP on March 31.
  • The US releases the ADP nonfarm employment report on April 1.
  • The UK releases Construction purchasing managers’ index (PMI) on April 2.
  • The US releases Nonfarm Payrolls on April 3.

 

Mach 30. Possible Cancellation of the Quarantine in the US

US administration will decide on whether the country will abandon the quarantine measures. Recall that last week, President Trump announced that the previously imposed restrictions can be lifted to support the economy. According to the latest data, the US President is going to have canceled the quarantine order by Easter.

Meanwhile, the number of COVID-19 cases is rapidly increasing in the US. The head of the World Health Organization Dr Tedros Adhanom Ghebreyesus says the US might become a new epicenter of the pandemic. The total number of confirmed cases in the US had surpassed that number in Mainland China by the end of last week.

 

March 31. Final Decision over Gram

The US District Court for the Southern district of New York will make its final decision over the US Securities and Exchange Commission’s (SEC) case against Gram token. The SEC has earlier demanded to recognize Pavel Durov’s Grams as securities.

In a preliminary injunction issued by the US Judge Kevin Castel agreed with the SEC. Apparently, Durov will have to return investor funds and the fate of the project will be a big question.

 

April 1. China Opens up its Financial Markets

China will lift restrictions on foreign investor access to its capital markets. This step has been agreed upon in the first part of the US-China trade deal. We remind you that this is what Washington has demanded for a long time.

 

April 3. Quarantine in Italy

All non-essential businesses in Italy are closed until April 3. The current epidemiological situation in the country is quite difficult, and the quarantine period is likely to be extended.

Recall: Italy is among the countries with the highest rate of COVID-19 spread and the number of mortalities.

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