Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!
USD/JPY slides to the 2-weeks low
Bulls could not hold yesterday's gains for USD/JPY. The pair has fallen below the weekly pivot at 111.70 and tested the support at 111.54 (200-day SMA). Strong bearish pressure may break this level and pull the pair lower in the direction of the next weekly pivot support at 111.30. If buyers take over the market, they will try to move USD/JPY up to to the resistance at 112.34. If we look at indicators, parabolic SAR still shows the upward movement for the pair.
Great news for oil bulls! OPEC and its allied producers agreed to expand output cuts for the next month.
During the recent days, silver made a spectacular rise to $30. Not only gold shines, it seems! It's all still an echo of Reddit, though...
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!
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The Reserve Bank of New Zealand will hold a meeting on Wednesday, April 14, at 05:00 MT.