What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
April 16: market in focus
Let’s see what’s moving the market today in different countries.
US dollar keeps safe-heaven status
Yesterday after the release of the poor retail data the US dollar price went up due to its safe-heaven status. EUR/USD, GBP/USD, AUD/USD – all dropped. Retail sales slumped by 8.7%, while only 8% decline was anticipated. It is the largest decrease in history. For comparison, this indicator fell by 2.8% during the crisis of 2008. That means that the coronavirus damage is terribly profound and long-standing.
Apple launches new IPhone SE
Apple released the new IPhone SE, its first low-cost device for four years. And, by that, the company proved that it is still sustainable even amid the coronavirus and its factories in China are back to work. Perhaps the Apple’s stock will continue its steady way up.
Chinese GDP is coming up on Friday
Most economists believe the Chinese gross domestic product data will show tomorrow its historic decline by 6.2%, while others think it may fall even by 11%. Also, retails sales and industrial output data will be reported too. So, we can see the full picture happening in China.
Germany is easing restrictions slowly
German Chancellor Angela Merkel declared that the country starts to come back to the normal life. She will allow to reopen some small shops next week and schools - in May. Germany car giants will soon start working too. However, some restrictions will still take place as crowded events will be banned and restaurants, bars and gyms will remain closed. However, the Germany’s economy is still struggling from the virus damage. According to the economy ministry, the recession will last until summer, but it will rebound in the second half of the year.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The volatility that the markets experienced last week promises the second tidal wave! What should your favorite assets anticipate during the first week of February?
The US Bureau of Labor Statistics will announce average hourly earnings, nonfarm employment change (NFP), and the unemployment rate on July 8, at 15:30 MT time.
The Federal Open Market Committee, a committee within the Federal Reserve, will reveal a detailed record of the central bank’s last meeting on July 6 at 21:00 MT.
The Reserve Bank of Australia will announce its cash rate and make a statement about future rate policy on Tuesday, July 5, at 07:30 MT.