OPEC+ Crashes Fed Inflation Plans

OPEC+ Crashes Fed Inflation Plans

 Welcome to April, folks! This week has already brought us a huge leap in some assets. We’ll talk about them later; now, let’s look at the most expected events of upcoming trading sessions.

Economic calendar

(All times are GMT+3; check your time zone here)

  1. Monday:
    1. OPEC-JMMC Meetings
    2. 17:00, US ISM Manufacturing PMI
  2. Tuesday:
    1. 07:30, Australia Cash Rate and RBA Rate Statement
    2. 17:00, US JOLTS Job Openings
  3. Wednesday:
    1. 05:00, RBNZ Rate Statement and Cash Rate
    2. 15:15, US ADP Non-Farm Employment Change
    3. 17:00, US ISM Services PMI
  4. Thursday:
    1. 15:30, Canada Employment Change
    2. 15:30, Canada Unemployment Rate
  5.  Friday:
    1. Bank holidays in New Zealand, Australia, Swiss, the UK, the EU, and Canada
    2. 15:30, US NFP, Average Hourly Earnings, and Unemployment Rate

Gold technical outlook

The metal broke the bearish channel we marked the previous week. The retest of the 200-period MA is possible but not mandatory.

If the price advances slightly above the resistance of $1960 to $1965, we will look for a Sell trade with a target of $1945. A local downtrend isn't over yet. 


News for you to stay informed:

  • OPEC+ cuts oil production, and XBRUSD opened with a 6.36% upside gap. More details in the previous post
  • Monthly Swiss CPI is lower than expected (0.2% vs. 0.4% forecast). USDCHF fell by 170 points and is now recovering.
  • From the start of the century, the USD share in world trade decreased from 70% to 40%. Over January 2023, the USD share decreased by 1.77%. As more countries start using local currencies, the USD loses its world reserve currency status.
  • Japan began purchasing Russian crude oil above the $60-a-barrel cap, breaking the market cap from the EU and US.
  • Bittrex US (one of the oldest crypto exchanges) will shut down its operations (only in the US) because of the current US regulatory and economic environment. 
  • UBS bank plans to lay off 20-30% of its employees after the Credit Suisse acquisition.

Have an amazing week!



Inflation Risks Return To The Markets
Inflation Risks Return To The Markets

Lagarde says difficult times have come, and the ECB raised the rate not to cause a recession but to stabilize prices. Read the report to learn the freshest news of the day!

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News for The Week

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Fed’s Rate Pause and UK Inflation Slows
Fed’s Rate Pause and UK Inflation Slows

Today's main event for the markets is the FOMC Interest Rate Decision, where the US regulator is widely expected to keep the interest rate at the same level of 5.5%.

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