April 16: market in focus

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.

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Strong USD on Tuesday
Strong USD on Tuesday

The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.

Latest news

USD starts the week with gains
USD starts the week with gains

Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.

ECB report is in focus
ECB report is in focus

The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time. 

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