D. Trump Relies on Improving the Situation and Reducing the Number of COVID-19 Cases

The US dollar is moving in different directions against a basket of currency majors. New York, the epicenter of the COVID-19 outbreak in the United States, reported a decrease in the number of new infections and deaths. US President Donald Trump said he saw "light at the end of the tunnel" and hoped for a further reduction in the number of cases. However, Surgeon General, Jerome Adams, warned that this week would be “the hardest and the saddest week of most Americans.” However, the news on a reduction in the number of victims of coronavirus still gave hope to investors. The dollar index (#DX) closed in the green zone (+0.08%).

The British pound continued to recover against the US dollar. However, it has started declining again after the news that British Prime Minister Boris Johnson has been moved to the intensive care unit. It should be recalled that the Prime Minister was infected with the coronavirus and was on self-isolation, but then he became worse and the official was hospitalized.

Today, the Reserve Bank of Australia has decided on a key interest rate during the Asian trading session. So, the regulator left the indicator unchanged at 0.25% per annum.

The "black gold" prices have started recovering again. On Friday, G20 energy ministers will hold a videoconference to ensure energy market stability. At the moment, futures for the WTI crude oil are testing the $27.05 mark per barrel. At 23:30 (GMT+3:00) API weekly crude oil stock will be published.

Market indicators

Yesterday, there were aggressive purchases in the US stock market: #SPY (+6.72%), #DIA (+7.56%), #QQQ (+7.15%).

The 10-year US government bonds yield increased slightly. At the moment, the indicator is at the level of 0.73-0.74%.

The news feed on 2020.04.07:
  • - JOLTS job openings at 17:00 (GMT+3:00);
  • - Ivey PMI at 17:00 (GMT+3:00).

by JustForex, 2020.04.07

We advise you to get acquainted with the daily forecasts for the major currency pairs.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

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