Market Roundup
• Portuguese March CPI (YoY) 0.0%,0.1% forecast, 0.4% previous
• Portuguese March CPI (MoM) 1.4%, 1.5% forecast, -0.6% previous
Looking Ahead - Economic Data (GMT)
• 14:00 French 12-Month BTF Auction -0.465% previous
• 14:00 French 3-Month BTF Auction -0.477% previous
• 14:00 French 6-Month BTF Auction -0.479% previous
• 15:30 3-Month Bill Auction 0.125% previous
• 15:30 6-Month Bill Auction 0.160% previous
Looking Ahead - Events, Other Releases (GMT)
• No significant events
Fxbeat
EUR/USD: The euro edged lower against dollar on Monday as risk aversion prevailed as the U.S. emerged as the new epicenter of the global coronavirus pandemic, with the most number of active cases and deaths. The U.S. recorded 1,514 Covid-19 related deaths, lower than the previous day's toll of 1,920, over the past 24 hours. The euro was last trading 0.05 % lower to $1.0924 .Immediate resistance can be seen at 1.0971 (50 DMA), an upside break can trigger rise towards 1.1032 (100 DMA).On the downside, immediate support is seen at 1.0903 (5 DMA), a break below could take the pair towards 1.0882 (9 EMA).
GBP/USD: Sterling rose against dollar on Monday, on expectations that British Prime Minister Boris Johnson will shortly be back at work after British PM Johnson was discharged from hospital. Johnson, 55, was taken to St Thomas’s Hospital in central London on April 5, suffering from persistent symptoms of the disease caused by the new coronavirus. On April 6 he was moved into intensive care, where he remained until April 9. He was last reported to be in stable condition. Improvement in Johnson’s condition means no change in the government’s policy direction in fighting the virus. Immediate resistance can be seen at 1.2596 (50 DMA), an upside break can trigger rise towards 1.2834 (Higher BB).On the downside, immediate support is seen at 1.2371 (9 DMA), a break below could take the pair towards 1.2349 (30 DMA).
USD/CHF: The dollar strengthened against the Swiss franc on Monday as a record output cut agreed by OPEC and other oil producing nations failed to offset broader concerns about slumping global demand. The greenback drifted higher, widely seen as barometers for market risk, in a sign investors remain concerned about the consumption outlook for commodities. Financial markets remain on edge over the spread of the novel coronavirus as severe restrictions on personal movement drag the global economy into a deep recession. Immediate resistance can be seen at 0.9680 (11 DMA), an upside break can trigger rise towards 0.9725 (100 DMA).On the downside, immediate support is seen at 0.9617 (30 DMA), a break below could take the pair towards 0.9610 (11 DMA).
USD/JPY: The dollar declined against the Japanese yen on Monday as a landmark agreement by OPEC and its allies to slash output by a record amount failed to give investors any cause for lasting optimism about the economic outlook. A bigger question for investors, however, is whether the novel coronavirus pandemic, which has ravaged global economic growth, will soon peak in the United States and Europe. Strong resistance can be seen at 108.73 (50 DMA), an upside break can trigger rise towards 108.91 (100 DMA).On the downside, immediate support is seen at 107.00(Psychological level), a break below could take the pair towards 106.30 (lower BB).
Equities Recap
European stock markets remain closed today for Easter Monday.
Commodities Recap
Gold prices held steady near a one-month high on Monday, supported by growing concerns over the extent of the economic hit from the coronavirus pandemic.
Spot gold was up 0.1% at $1,690.08 per ounce by 0916 GMT, having risen to its highest since March 9 on Friday.U.S. gold futures fell 0.6% to $1,741.40.
Oil prices turned negative on Monday, erasing gains made after major producers agreed record global output cuts, pressured by concerns that the cuts will not be sufficient to head off oversupply as the coronavirus pandemic hammers demand.
Brent crude futures were down 52 cents, or 1.7%, at $30.96 a barrel by 0810 GMT after opening at a session high of $33.99. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.5%, to $22.64 but was oscillating in and out of positive territory.
Treasuries Recap
Most European Bond markets are closed for the Easter Monday holiday.
