North Atlantic stocks continued to decline, Asia followed the trend

Stock indices in the US and Western Europe declined on Tuesday, closing in the red for the second session in a row. Unemployment in the UK fell to 4.9% from 5% in December and February.

On Tuesday, Netflix Inc reported a slowdown in new subscriber growth in the first quarter. As a result, the company's shares plummeted in OTC trading in the United States.

Oil prices are falling amid renewed increases in COVID-19 incidence in several Asian countries, which calls into question the prospects for a recovery in global demand. Another driver of the decline was the data of the American Petroleum Institute (API) on the growth of oil and distillate reserves in the US last week. Oil reserves increased by 436,000 barrels.

The safe dollar received some respite after the global stock indices pulled back from record highs. At the same time, the rise in the number of coronavirus cases from India to Canada undermined the prospects for a rapid recovery of the global economy.

Stock indices of the Asia-Pacific region declined in the morning following the fall of the US stock market for the second day in a row. Also, quotes for gold futures fell to $1,781 during the Asian trading on Wednesday.

Main market quotes:

S&P 500 (F) 4,127.62 +1.12 (+0.03%)

Dow Jones 33,821.30 -256.33 (-0.75%)

DAX 15,181.60 +52.09 (+0.34%)

FTSE 100 6,888.07 +28.20 (+0.41%)

USD Index 91.218 -0.009 (-0.01%)

Important events:
  • – A Speech by Bank of England Governor Andrew Bailey at 13:30 (GMT+3);
  • – The Consumer Price Index (CPI) in Canada (Mar) at 15:30 (GMT+3);
  • – Bank of Canada Interest Rate Decision at 17:00 (GMT+3).

by Justforex, 2021.04.21

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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