The Australian economy has been on a steady recovery path, and now we have a very symbolic confirmation that S&P ASX 200 is about to cross 7000!
12% of global trade blocked in Suez: oil at risk?
The Suez canal is pretty shallow and narrow. Exactly the width of one huge ship. Currently, a container carrier is stuck in the canal transversely. Oil tankers are waiting for the situation to get resolved as the oil they're carrying needs to come to the destination. However, it was underlined that it may take days for the Suez canal to get cleared.
What was the market reaction?
Initially, the WTI oil spiked from depths around $57 above $60. However, it was quick to reverse the gain. Currently, it goes sideways at $60, although, with somewhat increased volatility. In general, it appears that the effect of the Suez canal incident on the WTI price was as minimal as short-lived. Therefore, unless the clearing of the canal takes much longer than expected, we may safely assume that no bullish sentiment is about to appear on the chart in the short-term unless fundamental indicate that.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.
In this article, you'll find the latest news and tech analysis of EUR/USD, gold, and GBP/USD!