What's moving markets on Thursday? Jump in and you'll get the full market wrap!
Risk-off is back. All eyes on the US data.
The market sentiment deteriorated as the USA and some other countries are suffering from the new virus resurgence. Investors worry that the economic reopening may be delayed.
- Australia has recorded its largest peak in COVID-19 cases since April. The US states such as Florida and California exceeded daily highs.
- Investors are concerned that governments may impose strict restrictions and lockdowns again. That may lead to devastating results for most businesses. Stocks dropped on that worries.
- Margie Patel, portfolio manager at Wells Fargo Asset Management, said that stocks just need to take a breath and then they may continue rallying.
- The USA revealed new tariffs on export goods from the Eurozone. The EU considers to ban the entry for Americans. The US-EU tensions began to heat up.
- The IMF lowered its guidelines for the global economic recovery and predict deeper downturn and slower rebound.
S&P 500 dropped dramatically, but the 200-day moving average stopped it at the 3,020 level. If it manages to cross this line, it will open doors towards the key psychological mark at 3,000. Follow the release of the US GDP and unemployment claims at 15:30 MT time. It will be the strong catalyst for the further falling, if the data comes worse than expected. Otherwise, if the market catches the risk-on stimulus after the report, stocks may soar. In this case, look for resistance levels at 3,110 and 3,225.
Gold is headed to new highs. Market participants found it the most attractive safe-haven asset amid the current uncertainty. The US dollar gains too, but gold still prevails. If it crosses the resistance at 1,775, it will surge to 1,800. Support levels are 1,717 and 1,700. Again, the US data will have a huge impact on gold. Don’t miss out.
AUD/USD has tumbled significantly as Australia suffers from the largest high in coronavirus cases. Look for the break below the 0.6830 level, as the pair may fall even deeper to the next support at 0.6800. Resistance lines are the 50-day moving average at 0.6890 and the high of June 23 at 0.6920.
The US GDP and unemployment claims at 15:30 MT time will make the market really volatile. Follow the report!
US retail sales will be out on Thursday, April 15, at 15:30 MT. It is a significant release for traders as it will impact the US dollar.
Coinbase Global Inc., the leading cryptocurrency exchange in the US, will go public on the Nasdaq index on April 14!
In this article, you'll find the list of the hottest stocks to trade on April 19-23, which will publish their earnings!
While Citigroup reports better-than-expected quarterly data, it is also aims at restructuring its global presence. What will be the impact?
What's moving markets on Friday? What is the hottest news? Let's find out!