Markets are closed for holidays in China, Hong Kong, and Australia.
International Journal of Market Research:
Markets are closed for holidays in China, Hong Kong, and Australia. There’s no trading in UK100, AU200, FR40, DE30, ES35, HK50, and EU50. US nonfarm payrolls report released on Friday showed that US employers added the most jobs in seven months in March. The USD remains steady versus its counterparts, despite the fact that wage inflation turned out to be lower than expected and doubts over the Federal Reserve’s low rates decreased. S&P 500, which rose over 4000 on Thursday, remains above that level. Overall, markets seem calm. Traders wait for more news and the end of Easter Monday. Trading opportunities may be found on intraday timeframes.
Oil slipped after OPEC+ leaders decided to boost production and Saudi Arabia raised prices for shipments to Asia. Investors are following the progress of debate over US President Joe Biden’s $2.25 trillion infrastructure proposal, as Republicans expressed guarded support for a more limited plan. China is ramping up its Covid-19 vaccination push. A leader of the World Health Organization’s program said the rollout of shots will be expanded to 100 countries in the next couple of weeks, from 84 at present. Meanwhile, authorities in India’s financial hub asked private offices to work from home as Mumbai again became a viral epicenter.
The Reserve Bank of Australia will deliver its policy decision during the Asian session on Tuesday. The RBA will likely repeat that significant monetary stimulus is needed, so the AUD will remain less attractive than NZD. The personal data of more than half a billion Facebook Inc. users reemerged online for free on Saturday. The data are from the leak found and fixed in 2019. Still, bad news for the stock and great news for sellers.
EUR/USD declined last week but managed to stay above the 50-week MA at 1.1730. Upside is still limited by the downtrend line since February. The advance above 1.1800 is needed to trigger a move to 1.1840
Gold has rebounded from $1680 and has as good chance to retest $1740. If a stronger USD pulls the price below $1720, the target will lie at $1700